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Vietnam’s shrimp exports expected to increase by more than 12% in 2020

December 25, 2020 | 07:28

According to the Vietnam Association of Seafood Exporters and Producers (VASEP), as of November, Vietnam's shrimp exports reached 3.4 billion USD, an 11.3% year-on-year increase. Shrimp exports are expected to record a vigorous increase of 12.4% to US$3.78 billion this year.

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In terms of production, the total area for ​​shrimp farming is estimated at 725,900 ha (reaching 99.43% of the 2020 plan), with 616,807 ha of black tiger shrimps (equal to 99.48% of the 2020 plan) and 109,093 ha of white leg shrimp (equal to 99.1% of the 2020 plan), Vietnambiz reported.

The total output of shrimps is estimated to reach 790,564 tons (reaching 95.24% of the 2020 plan), with 254,382 tons of black tiger shrimp and 536,182 tons of white leg shrimp.

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Vietnam’s shrimp exports are expected to increase by more than 12% in 2020. Photo: VOV

Raw shrimp prices in the Mekong River Delta have slightly increased due to the reduction in supply and factories adjust purchasing prices to serve export demand at year-end.

Vietnamese enterprises have made efforts in searching, diversifying markets as well as taking full advantages of the opportunities.

As of November, white leg shrimp accounted for 72.5% of total shrimp export value, black tiger shrimp occupied 15.5% and the rest was marine shrimp.

Given the complicated development of the Covid-19 pandemic in the world, processed shrimp products were more preferred than fresh and frozen ones.

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As of November, Vietnam's shrimp exports reached 3.4 billion USD, an 11.3% year-on-year increase.

Photo: CafeF

As of November, white leg shrimp exports stood at US$ 2.5 billion, up 5.7% while black tiger shrimp exports reached US$532.6 million, down 22.5% over the same period last year.

The United States remained the world's leading consumer of Vietnamese shrimp, with turnover in November rising by 37% to US$806.6 million in comparison with last year's corresponding period.

Vietnam’s shrimp exports expected to increase by more than 12% in 2020
Photo: Vietnamnet

Meanwhile, the EU made up Vietnam’s fourth-largest shrimp importer, after the US, Japan, and China, accounting for 13.7% of the nation’s total shrimp export value. Shrimp exports to the EU have enjoyed robust growth since the beginning of the third quarter thanks to the enforcement of the EU-Vietnam Free Trade Agreement (EVFTA). Nevertheless, in November, it suffered a decline due to the influence of the Covid-19 second wave in Europe. In January- November period, the local export to this market rose by 5.2% to US$472.3 million.

After reporting two-digit growth in September and October, Vietnam's shrimp exports to China in November fell by 21% to 42.8 million USD. As of November, shrimp exports to the neighboring market reached 496.8 million USD, representing only a 0.8% year-on-year increase, mainly because of a decline in China's demand for domestic shrimp consumption. It is predicted that Vietnamese shrimp exports to China may not be able to bounce back in the next few months.

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