A shrimp processing factory in the Mekong Delta province of Ca Mau (Photo: VNA) According to the Vietnam Association of Seafood Exporters and Producers (VASEP), in the first 10 months shrimp exports rose by 2.6 percent to 3.2 billion USD, with shipments to the US rising sharply.
The US accounted for 24 percent of exports as they rose 25 percent to nearly 1.7 billion USD.
The EU accounted for 12 percent at 864 million USD after rising by 7 percent, and the Republic of Korea accounted for 9 percent at 643 million USD.
Exports to Japan fell by 7 percent to 1.08 billion USD, and to China, by a whopping 24 percent to 872 million USD.
Frozen small white shrimp, processed white-leg shrimp, fish balls, surimi, whole fillet, cut pieces, dried anchovies, and dried squid were some of the best-selling products.
Exports of frozen whole shrimp, especially tiger shrimp, decreased due to the high prices and tight control over frozen food imports in China.
According to experts and businesses, thanks to lifting of COVID restrictions in southern provinces and cities, supply chains have been re-established, with shrimp exports gradually recovering since October.
Besides, the fourth quarter is when demand for shrimp peaks in Europe and the US.
According to the Vietnam Industry and Trade Information Centre, global demand for shrimp is generally on the rise, especially in large markets.
With supply from other countries still hit by the pandemic, Vietnam’s exports are likely to rise enormously in the next few months due to the numerous free trade agreements it has and its production remaining steady.
Exports by delta provinces will remain high due to the many sales contracts businesses there have signed, but rising transport costs and potential COVID-related complications remain major challenges, according to many provinces.
Vietnam targets shrimp exports of 4 billion USD this year./.
VNA
