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NEWS Vietnam 🇻🇳: The export volume of shrimp

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Vietnam 🇻🇳: The export volume of shrimp 🍤 from Vietnam was reduced to US $ 307.3 million, 7.4% less than the previous month! Exports to China plummet! The EU is the largest exporter!

According to data from the Vietnam Sea Products Exporters and Processors Association (VASEP), in September 2019, Vietnam shrimp exports dropped 7.4% to $ 307.3 million. In the first nine months of this year, exports reached 2.4 billion dollars, a year-on-year decrease of 7%.

According to data from the Vietnam Sea Products Exporters and Processors Association (VASEP), in September 2019, Vietnam shrimp exports fell 7.4% to 307.3 million US dollars. In the first nine months of this year, exports reached 2.4 billion dollars, a year-on-year decrease of 7%.

In the first half of this year, shrimp production in Vietnam increased, but shrimp stocks are also high in the market. This has reduced the price of raw materials, and the supply of shrimp products from other producing countries has also been affected.

From January to September 2019, Vietnam's shrimp exports to the EU reached 513.4 million dollars, a 21% year-on-year decrease.

In September 2019, shrimp exports from Vietnam to the European Union (EU), its largest shrimp exporter, exceeded US $ 61 million, an annual decrease of 23% since September 2018. Exports to the United Kingdom and The Netherlands decreased 37% and 32% respectively year-over-year.

According to relevant sources: "If companies can take advantage of tariff preferences (European Free Trade Agreement-Vietnam) and effectively implement the rules of origin, then, since 2020, shrimp exports from Vietnam to the EU may have a chance. Without However, exports to the EU in the second half of this year are unlikely to recover. "

In addition, shrimp exports from Vietnam to the United States in September fell to US $ 64.7 million, a decrease of 18% year-on-year. However, in the first nine months of this year, exports of shrimp products from Vietnam to the United States increased to US $ 476.9 million, a year-on-year increase of 1%.

VASEP said that as the average price of Indian shrimp in the US market fell from approximately $ 10 per kg to $ 8.6 / kg, Vietnam's market share dropped from 11% to 8.3%. Due to the lower prices in India and other countries, the lack of competitive advantages in domestic aquaculture products is also the main reason for the decline in exports, but Vietnamese shrimp remains one of the highest priced shrimp in the market American.

Vietnam exports to China

Previous reports said that China is also one of Vietnam's largest exporters, but since China's repression of border trade, shrimp exports from Vietnam to China have fallen to US $ 233.5 million in the first half, a year-on-year decrease of 4.9%. The decline continued in the second half of the year.

Previously, Vietnam was the main "gray trade" channel for Chinese shrimp imports. Ecuador, India and other countries re-exported through Vietnam. China is the main consumer market of the terminal. However, due to China's repression in border trade, Ecuador's exports to Vietnam in January 2019 reached 12,194 tons (26883712 pounds), and in August they had fallen to 290 tons (641355 pounds), a fall of 42 times. This has drastically reduced Vietnam's exports to China.

At present, Ecuador and India remain the main shrimp importing countries in China, Vietnam is not ideal for the Chinese market and the EU remains an important target for Vietnamese shrimp exports. Unless China raises the price of its products, the export profit margin of white shrimp is higher than that of the EU market.

Published: 11/25/2019
Source: Frozen Raiders
Publisher: Huang Shan
 

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