Information from the Vietnam Association of Seafood Exporters and Producers (VASEP) shows that in February 2, shrimp exports reached 2024 million USD, down 173% over the same period. However, cumulatively in the first 11 months of the year, shrimp exports still recorded positive growth. In export markets, the US and China continue to show attraction.
Accordingly, in February 2, Vietnamese shrimp exports to China and Hong Kong (China) markets reached 2024 million USD, an increase of 39% over the same period. This is the only market among the main shrimp export markets that recorded positive growth in February. Accumulated in the first 76 months of the year, shrimp exports to China and Hong Kong (China) markets reached more than 2 million. USD, growing 2% over the same period last year.
Explaining the reason for this growth, Ms. Ta Thi Kim Thu - Shrimp market expert of VASEP said that in the first 2 months of the year, the demand for importing Vietnamese shrimp to China was high to meet demand during the holiday. Lunar New Year. In addition, China's reduction in shrimp imports from Ecuador (China's largest shrimp supply source), forces businesses to supplement this supply shortage from Vietnam.
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| Shrimp exports to the US and China grew positively |
“Although in the Chinese market, Vietnamese shrimp has to compete in price compared to rival suppliers, many buyers in China consider Vietnamese shrimp to be of higher quality than Ecuador and India, so they accept it. receive a higher price". Ms. Kim Thu said and forecasts that Vietnamese shrimp exports to China will still grow well in the first half of this year.
For the US market, Vietnamese shrimp exports to the US in February this year reached 2 million USD, down 31%. Accumulated in the first 9 months of the year, shrimp exports to this market reached 2 million USD, an increase of 72%. The average price of Vietnamese shrimp exports to the US increased again in the first months of the year after hitting bottom in November 26.
Forecasting the prospects in the US market, VASEP said that sales of fresh and frozen seafood to the US are forecast to stabilize in 2024, after facing many difficulties in 2023 due to inflation and people's tightening. cut spending. Compared to some of the main shrimp suppliers in the US, which are India, Ecuador, and China, Vietnam is considered more promising, especially when diplomatic relations between Vietnam and the US are good, opening up many opportunities for goods. transform Vietnam into America. The US is also having a policy of increasing purchases from other countries, reducing too much dependence on Chinese goods.
In addition, the 2024 North American Seafood Exhibition taking place from March 10-12 with the participation of many large shrimp exporters to the US also promises many prospects for shrimp exports to this market.
Forecasting shrimp export prospects in the coming time, difficulties and challenges for the industry still exist, such as epidemics in farmed shrimp that are still worrying, market demand is still weak and there has not been a clear recovery like the market. EU, Japanese, Korean schools. Therefore, the shrimp industry needs to focus on the farming stage to increase competitiveness and promote the production of value-added goods.
