MANY OPPORTUNITIES FOR BLACK TIGER SHRIMP TO EUROPEAN MARKET

The EU has been an important market for Vietnam's seafood in recent years and is expected to continue to be a potential market in the coming years. Especially, when EVFTA comes into effect, it will bring opportunities for tax reduction, helping Vietnam to strengthen its competitiveness in the EU market and export markets in general.

Reportedly, the current import tax rate on seafood into the EU is currently average 14%. In particular, many items are taxed as high as 26%. But when the agreement comes into effect, there will be about 840 basic tariff lines, accounting for about 50% of the tariff lines for fishery products, will be reduced to 0%; the rest have a roadmap of 3-7 years.

Especially, for shrimp products, import tax on this market will sharply decrease from the first year of implementation of the agreement, then gradually decrease to 0% in the following years. This is really an advantage and creates competitiveness for Vietnamese businesses in the consumption market, selling prices when other shrimp exporting countries are not entitled to the GSP tax rates imposed by the EU. Thereby, the export business is facing many opportunities when the tax rate is 0% and the European market will be a fertile land for developing seafood export.

According to the Vietnam Trade Office in the Netherlands, black tiger shrimp is one of the advantageous products in the European shrimp market, moreover, this is a traditional product in the markets of Northwestern Europe and France. EU countries consider black tiger shrimp as a high-class product because of its characteristic color, taste, quality and large size.

Reportedly, in Europe, the average person will consume nearly 25 kg of fish and seafood / year. In particular, according to a recent European Commission study, shrimp accounted for 6% or about 1.5 kg each people of the total consumption of European fish and seafood. Most shrimp imported into Europe is consumed in Southern Europe. In Spain, the average person will consume 3kg of shrimp per year, 2kg in Portugal and 1.5kg in France.

After the appearance of Pacific vannamei shrimp and Argnetina red shrimp, black tiger shrimp is the third most popular special shrimp imported to the European market. Although Pacific vannamei shrimp is competitively priced, tiger shrimp is still chosen by many people because of its unique color, taste, texture and larger size.

According to the Vietnamese deal in the Netherlands, black tiger shrimp is mostly imported into Europe as a final product, packaged and ready to be distributed in the frozen segments of supermarkets or wholesale food service shops. Contrary to Pacific vannamei shrimp, black tiger shrimp are rarely imported as a bulk product for the European processing industry, with some exceptions such as the United Kingdom or Northwestern Europe. Some importers have their own processing facilities to break down the volume of imported black tiger shrimp into new products.

Accordingly, Vietnamese tiger shrimp suppliers will have a great opportunity to gain a foothold in some retail markets in Northwestern Europe. Vietnamese shrimp export enterprises have free access to Trade Map data to look up data for black tiger shrimp with relevant HS codes to better understand market information.

In fact, the black tiger shrimp is currently competing in price when Pacific vannamei shrimp price continues to decrease. But in the long run, the representative of the Vietnam Trade Office in the Netherlands expects that black tiger shrimp will be consumed more in the Northwest European wholesale market. With a delicious taste, attractive colors, black tiger shrimp will always be a popular item in this market if the supplier offers a good price product, ensuring sustainable standards.

In particular, in order to boost exports to Europe, businesses must comply with the series of regulations outlined in EVFTA.

In particular, regulations to ensure food hygiene and safety and quality standards are the most important. If black tiger shrimp producers are interested in the retail markets in Germany, the Netherlands and Belgium, it is important to study industry standards such as Global GAP.

For European retail markets, especially in Northwestern Europe will require certification of the Aquaculture Stewardship Council (ASC), but more and more places are also requiring this document to access the market. Even most of the major retailers are committed to selling only ASC certified shrimp products. This is something that Vietnamese businesses need to pay special attention to.

(According to Industry and Trade Newspaper)

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