After a sharp decline in August and September, shrimp exports in October gradually recovered, in which, exports to the US and EU increased by double digits.
According to the Vietnam Association of Seafood Exporters and Producers (VASEP), shrimp exports in October reached $425.3 million, down slightly by 1.5% over the same period last year. This is considered a signal of recovery when shrimp exports in August and September continuously decreased sharply.
Notably, in the main import markets such as the US, EU, and South Korea, there has been a sharp increase again. In the US market, Vietnam's shrimp exports in October reached more than US$117 million, up 19% over the same period last year. Accumulation in 10 months reached 892.7 million USD, up 22% over the same period in 2020.
Currently, the US market needs a lot of fresh and frozen shrimp from Vietnam. Therefore, it is forecasted that in the last months of the year, shrimp exports to this market will continue to increase sharply.
For the EU market, shrimp exports in October reached US$74 million, up 13% over the same period last year. Accumulated 10 months is 482 million USD, up 10.4% over the same period. The EU is currently facing a shortage of goods in the last months of the year, combined with the impact of the epidemic and increased transportation costs. This will be an advantage for Vietnamese goods suppliers to the EU in the coming months.
In contrast to the above markets, shrimp exports to China are still on the decline. In October, shrimp exports to this market reached $43.5 million, down 36.5% over the same period. Accumulated 10 months reached 341.5 million USD, down 25% compared to the same period in 2020.
The Chinese side is protecting domestic goods and encouraging domestic people to use their products. Therefore, exporting goods to this market faces many difficulties.
Hong Chau
Hotline
