In September, shrimp exports to the US increased by 23% compared to the same period last year, marking the third consecutive month of positive growth, according to VASEP.
The Vietnam Association of Seafood Exporters and Producers (VASEP) assessed that shrimp exports have shown some signs of improvement recently. Last month, although negative growth was not yet achieved (reaching 322 million USD, down 8%), the decline has gradually narrowed each month. In the first 9 months, Vietnam's shrimp exports reached 2.5 billion USD, down 26% compared to the same period in 2022.
VASEP said that many markets such as the US, Australia, Canada, Belgium, and Taiwan have shown positive signs thanks to positive growth of 1-54%. Notably, the US market is noteworthy.
Shrimp exports to this market continued to grow positively in September, and this was the third consecutive month of increase. The 23% growth rate in September was also the highest compared to the previous two months. However, if calculated for the whole of the first 9 months, the total export value to the US reached 520 million USD, down 23%.
The data also shows that shrimp imports into the US have been on the rise recently. One of the reasons cited is that consumer spending in the country is more stable. Forecasts for US economic growth are also quite positive, with the IMF raising their growth rate by 0.3 percentage points this year and 0.5% next year.
In the remaining major markets such as the EU, Japan, and South Korea, VASEP said that shrimp export growth was still negative 10-26%, however, the decrease was lower than in previous months.
In the mainland China and Hong Kong markets, after positive growth in the 3 months of June-August, shrimp exports continued to decline. The reason is that this country has high inventories due to importing a lot of shrimp from Ecuador. According to VASEP, China's shrimp consumption demand is unlikely to recover in the last quarter of the year.
However, with positive signals from markets with increased demand for deep-processed shrimp during the year-end holidays such as the US, Canada, and Australia, VASEP believes that the shrimp export industry will record more positive results in the first half of 2023.
Vnexpress.net
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