WHITELEG SHRIMP EXPORT GREW STRONGLY AFTER 5 YEARS

05 Thu, 2020

In the 5-year period (2015 - 2019), Vietnam's shrimp industry has achieved positive results in production and export. Shrimp farming area increased by an average of 1.4% per year, while production increased by an average of 5.7%, mainly due to improved whiteleg shrimp farming productivity. The production of whiteleg shrimp increased continuously and increased sharply by nearly 41% after 5 years with an average increase of 9% per year. Meanwhile, black tiger shrimp production increased by an average of 1.2% and only increased by 3.1% after 5 years, productivity did not have a significant growth compared to whiteleg shrimp.

Shrimp exports in the past 5 years have achieved an average annual growth of 4%, an unstable annual growth. After 5 years, whiteleg shrimp exports have become increasingly dominant in export shrimp products thanks to strong growth.

Frozen shrimp products still account for a large proportion of Vietnam's shrimp exports. Processed shrimp only accounts for a significant proportion in some major markets (USA, EU, Japan). The proportion of shrimp in the US market is the highest, followed by the EU, Japan, and South Korea markets, while ASEAN and China are low.

Vietnam's top 6 shrimp import markets include the EU, the US, Japan, China and South Korea, accounting for 81-85% of the total shrimp import value in the last 5 years. Since 2017, the US and EU have exchanged positions because shrimp exports to the US have declined continuously and sharply decreased than the EU market. During this period, exports to China had the strongest breakthrough with an average annual growth of 16% and after 5 years increased over 55%. After China, South Korea has been a notable market in the past 5 years, followed by the EU.

In general, on the import tax of shrimp products in major markets, Vietnam's products have advantages compared to other exporting countries such as Indonesia, India, Thailand and China, especially in markets with FTA agreement with Vietnam. This will continue to be an advantage for Vietnam's shrimp exports in 2020 and the years to come.

However, the corona epidemic has been affecting shrimp production and export to markets in 2020, thus limiting the growth of shrimp industry this year, however the level of influence of each market will be different.

VASEP has released Vietnam Shrimp Industry Report, 2015 - 2019 (Vietnamese - English bilingual, 50 pages), providing detailed information and data on production and export movements of each major shrimp species to markets; assess shrimp supply and demand trends in markets; compare the export price, import tax of shrimp of Vietnam and other exporting countries in the markets; simultaneously assessing the prospects of production and export to each market, the impact of the corona epidemic (opportunities, challenges and forecast of export turnover) in 2020.

Please invite your business and readers to read the details of the report of Vietnam shrimp industry in the Vasep's website.

Source: http://vasep.com.vn/

Publication date: April 22, 2020.

WHITELEG SHRIMP EXPORT GREW STRONGLY AFTER 5 YEARS

WHITELEG SHRIMP EXPORT GREW STRONGLY AFTER 5 YEARS

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