Shrimp exports to China increased 2.5 times

Shrimp exports in the first two months of the year reached 425 million USD compared to the same period last year, of which goods to China and the US increased by 143% and 26% respectively.

The Vietnam Association of Seafood Exporters and Producers (VASEP) said that shrimp consumption demand in the US and Chinese markets has warmed up again.

Accordingly, shrimp exports to the US in the first two months of the year reached 72 million USD, up 26% over the same period.

China is a market with a sudden growth rate, increasing by 76% in February, reaching 39 million USD. This is the only market among shrimp importing countries to record positive growth in February. In the first two months of the year, shrimp exports to this market recorded an increase of 143%, reaching more than 81 million USD.

According to VASEP, in China and the US, Vietnamese shrimp is competitive in price compared to rival suppliers from Ecuador and India, but is considered to be of higher quality by buyers. For example, the export price of shrimp in China is about 8.8-9.5 USD per kg.

Vietnam is one of the largest shrimp producers and is in the world's top 4 in terms of exports, along with Ecuador, India and Indonesia. Seafood experts believe that shrimp exports will improve as China and the US - the two main markets for this product - continue to increase their purchases.

In 2023, the brackish water shrimp farming area of the whole country will reach 737,000 hectares, with an output of more than 1.1 million tons, up 5.5% over the previous year. Due to difficulties from many sides, shrimp export turnover last year reached 3.45 billion USD, down nearly 20% compared to 2022.

This year, this item is forecast to bring Vietnam 4 billion USD, an increase of 10-15% over the same period and contribute about 45-50% of seafood export value.

Thi Ha

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