Shrimp exports to US likely to increase in last months of 2015

Shrimp exports to US likely to increase in last months of 2015 (Photo:static.tuoitre.vn

 

Shrimp exports to the US are expected to increase in the last months of 2015 due to low tariffs and high supply, said the Vietnam Association of Seafood Exporters and Producers (VASEP).

However, the growth will be modest as the US dollar and price competitiveness in the market are relatively high.

Shrimp exports to the US are expected to yield 638 million USD in 2015, down 40 percent compared to the previous year.

As of July 15, shrimp exports to the North American country had earned 284.6 million USD, plummeting 50.8 percent from the same period last year, the strongest fall in the country’s three biggest shrimp importers.

The US is Vietnam’s biggest consumer, accounting for 20 percent of total shrimp exports.

Shrimp exports to Japan, the EU, China and the Republic of Korea likewise plunged 18.6 percent, 15.2 percent, 26.1 percent and 19.3 percent, respectively.

In the reviewed period, total shrimp export turnover hit 1.4 billion USD, down 28.1 percent annually, of which white-leg shrimp accounted for 824.2 million USD, dropping 29.2 percent, and tiger prawn reached 460.2 million USD, down 30.2 percent.-VNA

VNA