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NEWS India's price for shrimp 🍤 has fallen, and Vietnam has gained market share!

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Vietnam 🇻🇳: India's price for shrimp 🍤 has fallen, and Vietnam has gained market share!

China Fisheries Channel reported that, according to the Vietnamese Association of Seafood Exporters and Processors (VASEP), the total value of Vietnamese shrimp exports in September 2019 fell 7.4% to $ 307.3 million.

In the first nine months of this year, exports reached 2.4 billion dollars, 7% less year-on-year.

In September 2019, shrimp exports to the EU, the largest shrimp importer country in Vietnam, exceeded US $ 61 million, a 23% decrease since September 2018. Sales to the United Kingdom and the Netherlands fell by 37% and 32% respectively.

In the last nine months, shrimp exports to the EU reached $ 513.4 million, 21% less year-on-year.

"If companies can take advantage of tariff preferences in the (European-Vietnamese Free Trade Agreement) and effectively apply the rules of origin, the export of Vietnamese shrimp to the EU may increase from 2020. It is unlikely to recover in The second half. "

On the other hand, Vietnamese shrimp exports to the United States fell 18% in September to $ 64.7 million. In the first nine months of this year, exports increased 1% to $ 476.9 million.

According to VASEP, Vietnam lost its market share from 11% to 8.3% because the average price of Indian shrimp in the US market fell from approximately US $ 10 per kilogram to US $ 8.6 per kilogram. The Vietnamese shrimp is still the most expensive shrimp in the US market.

Source: Seafood Guide
Translation: Shen Jiwen
2019-11-23
 

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