2018 - tough year for shrimp exports
The Vietnamese shrimp exporters have been in a tough year in 2018 as world supply saw strong increases that brought down both shrimp price and demand in major markets.
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The Vietnamese shrimp exporters have been in a tough year in 2018 as world supply saw strong increases that brought down both shrimp price and demand in major markets.
The US Department of Commerce (DoC) has announced the final results of the 12th Period of Review (POR 12), lowering the antidumping tariff on shrimp imports from Vietnam.
The fishery sector needs to take actions to convince the European Commission (EC) to remove a “yellow card” warning on Vietnamese seafood so as to realise the set target of 9 billion USD in export turnover this year.
Vietnamese shrimp exporters need to improve quality of their products, and update procedures and requirements in the Republic of Korea (RoK) to overcome technical barriers that hinder the shipments, experts have said.
Various challenges face Vietnam’s shrimp exports to the US, as aside from high anti-dumping duties, Vietnamese businesses have to tackle harsh policies the US uses to protect domestic production.
Export revenue of aquatic products is estimated to hit 2.7 billion USD in the third quarter, a 13 percent rise year-on-year, said the Vietnam Association of Seafood Exporters and Producers (VASEP).
With the US tightening import rules for shrimp and abalone at the end of this year, Vietnamese processors and exporters need to start preparing data now, an American expert has said.
The agriculture sector’s export turnover in the first six months of 2018 reached some 20 billion USD, setting a decent pace by meeting half the year’s target of 41 billion USD.
Vietnamese seafood companies need to work harder to realise the export target of 10 billion USD set by the Ministry of Agriculture and Rural Development (MARD) when oversea shipments in during January-July were estimated at only 4.66 billion USD.
The price of material shrimps is forecast to recover in August and September after suffering drops over the past months, especially in the second quarter of 2018, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).
Vietnam’s export of aquatic products maintained a two-digit growth in H1 and is forecast to continue growing strongly in the rest of the year despite world's plunging shrimp prices.
The southernmost province of Ca Mau is striving to earn 2.5 billion USD from shrimp exports, and become the largest shrimp breeding hub in the country by 2025.
Vietnam’s export of aquatic products maintained a two-digit growth in the first half of 2018 and is forecast to continue growing strongly in the last half despite plunging shrimp prices worldwide.
Minister of Agriculture and Rural Development Nguyen Xuan Cuong has ordered provinces and cities to focus on ensuring farmers raise shrimp using proper breeding processes and advanced techniques.
Vietnam’s shrimp export value to Canada reached 27.7 million USD by March 2018, a year-on-year increase of 16 percent, according to Vietnam Association of Seafood Exporters and Producers (VASEP).
The European Union (EU) market was the largest export market of Vietnamese shrimp in the first quarter of this year, according to Vietnam Association of Seafood Exporters and Producers (VASEP).
Vietnam’s shrimp industry is expected to gain an export value of 4.8 billion USD in 2018 due to the many advantages of export promotion, experts said.
Vietnam earned some 2.4 billion USD from exporting aquatic products in the first four months of 2018, representing a year-on-year rise of 13 percent.
