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Farmed shrimp produced in Vietnam. (Photo: Stock File)

Good prospects forecast for shrimp exports to the EU

Click on the flag for more information about Viet Nam VIET NAM
Wednesday, November 14, 2018, 02:50 (GMT + 9)

Việtnamese shrimp has a competitive advantage over other major competitors in the European Union (EU) market and this opens further opportunities to increase the sales of this crustacen to the bloc, according to the Việt Nam Association Seafood Exporters and Producers (VASEP).

The association argues that other important producers, such as India and Thailand, have experienced issues related to quality standards.


Source: VASEP

In addition, the entity expects the Việt Nam-EU Free Trade Agreement (EVFTA) comes into effect next year so the country will be allowed to avoid import tariffs on shrimp and processed shrimp.

Another advantage for white-leg shrimp exports is the fact that more European consumers are buying shrimp in supermarkets, instead of eating shrimp at restaurants, leading to a growth in the resource volume purchased by EU’s retail market.

VASEP states that European restaurants often use tiger prawn because of its taste and size, but the economic crisis has made white shrimp more popular.

In terms of processed products, VASEP outlines that the demand for steamed shrimp in MAP (modified atmospheric packaging) is increasing in the European market.

 

► Vietnamese shrimp processing plant. (Photo: VASEP)

In the association’s view, to promote shrimp exports to the EU, local enterprises should increase the number of farms and factories that are certified for good farming practices and meet environmental and quality standards. They also should increase the number of factories with upgraded processing lines meeting European retail standards.

The EU is the largest export market of Vietnamese shrimp, accounting for 24.7 per cent of Việt Nam’s total shrimp exports. Việt Nam’s shrimp exports to this market as of September this year reached USD 648.4 million, representing an increase of 11 per cent over the same period in 2017.

Within the bloc,  the UK is the largest importer of Vietnamese shrimp, accounting for 27 per cent of Việt Nam’s shrimp exports to the EU. In the first nine months of this year, shrimp exports to the UK reached nearly USD 176 million, which is a 27.6 per cent year on year growth. 

►Photo: VASEP 

The Netherlands is the second largest export market of Vietnamese shrimp in the EU, after the UK. In the first nine months of this year, shrimp exports to the Netherlands reached USD 158.6 million, representing a 11.6 per cent year on year increase.

In the structure of Vietnamese shrimp products exported to the Netherlands, white shrimp accounted for the highest volume of 86 per cent, followed by black tiger shrimp at 10 per cent and other kinds of shrimp at 4 per cent.


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www.seafood.media


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