Shrimp exports remain buoyant

The exports were worth an estimated US$3.8 billion last year, US$700 million up from 2016 and US$400 million higher than the association’s target. There was big demand for shrimp in key markets such as the EU, China, Japan, and the Republic of Korea especially during the year-end festive season, VASEP said. In the first 11 months of last year, the EU was the largest importer of Vietnamese shrimp, with shipments to the market going up by 42.4% to US$780 million and accounting for 22.2% of Vietnam’s exports. Shrimp exports to China surged by 60.2% to US$637.9 million in the period, but shipments to the US fell by 7.8% mainly due to high anti-dumping duties. Truong Dinh Hoe, VASEP’s general secretary, said the strong growth in shrimp exports last year was mainly thanks to better control of antibiotic usage in breeding the crustacean, an increase in exports of processed products, and buyers’ increased confidence in Vietnamese shrimp products. In the EU, Vietnamese shrimp exporters enjoyed preferential treatment under the bloc’s Generalised System of Preferences while Thailand and China, the two main competitors, did not. India’s shrimp exports to the EU were down because antibiotics were being frequently found in its products, and Indian companies faced the risk of bans, he said. This meant European importers were looking for safer shrimp products, including from Vietnam, he said. The depreciation of the US dollar against the euro and yen had also supported Vietnamese exports, the association said. Tran Van Linh, chairman of Thuan… [Read full story]

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