Shrimp exports to the US grow well

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Shrimp exports to the US grow well

Despite the impact of Covid-19, shrimp exports to the US still grew positively and was the only market in the top 5 with strong recovery signals since September.

According to Customs data, in September, Vietnam's shrimp exports decreased by 20%, reaching more than 308 million USD. Accumulating 9 months, shrimp exports reached 2.76 billion USD, up 2.6%.

Among the major export markets, the US was the fastest to recover in September, up 8%. Accumulating 9 months, shrimp exports to the US reached over 775 million USD, up 22% over the same period last year.

According to the Vietnam Association of Exporters and Producers - VASEP, the demand for US shrimp imports is still high, especially when this market is reopening after the pandemic and the upcoming year-end holidays. The US National Oceanic and Atmospheric Administration (NOAA) said that the country's shrimp imports continued to increase in September and were the 10th consecutive month of increase with an average monthly import of 89,000 tons of shrimp and the price of... worth more than 800 million USD.

Since the beginning of the year, the US has also continuously imported shrimp from Ecuador, but according to VASEP, the growth rate of Ecuadorian shrimp exports to the US will be difficult to maintain in the near future due to the lack of raw materials for processing. This will create opportunities for Vietnamese shrimp.

In the EU market, Vietnam's shrimp exports to this region decreased by 15% in September compared to the same period last year, reaching just over $48 million. Accumulating 9 months, shrimp exports to the EU reached nearly 408 million USD, up 10% over the same period.

VASEP recognizes that the EU's shrimp reserves are at a low level, the import demand of this market is very high from now until November to serve Christmas, together with the Free Trade Agreement will be an opportunity. for Vietnamese shrimp exporters to step up to this market.

By the end of September, Vietnam's shrimp import market share in the US market accounted for 28%, EU 15%, China 11%, Korea 9%, CP TPP 25%, UK 6% and 6% respectively. other markets.

Hong Chau

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