Vietnam has many opportunities to increase white-leg shrimp exports to the European Union (EU). (Source: vasep.com.vn) Hanoi (VNA) - Vietnam has manyopportunities to increase white-leg shrimp exports to the European Union (EU)in the future, according to the Vietnam Association Seafood Exporters andProducers (VASEP).
The association said Vietnamese shrimp has acompetitive advantage over other major competitors in the EU market such asIndia and Thailand. These countries have seen a reduction in their exports tothe EU due to problems relating to quality standards.
Meanwhile, the EU-Vietnam Free Trade Agreement(EVFTA) is expected to come into effect next year so Vietnam will be allowed toavoid import tariffs on shrimp and processed shrimp.
In addition, more European consumers are buyingshrimp in supermarkets, instead of eating shrimp at restaurants. This is anadvantage for white-leg shrimp exports because the volume of white shrimp inthe EU’s retail market is increasing, according to the VASEP.
European restaurants often use tiger prawnsbecause of their taste and size, but the economic crisis has made white shrimpmore popular. This is an opportunity for businesses that can provide whiteshrimp at lower prices.
In terms of processed products, demand forsteamed shrimp in MAP (modified atmospheric packaging) is increasing in theEuropean market, according to VASEP.
To promote shrimp exports to the EU, localenterprises should increase the number of farms and factories that arecertified for good farming practices and meet environmental and qualitystandards, the association said. They also should increase the number offactories with upgraded processing lines meeting European retail standards.
VASEP reported the EU is the largest exportmarket of Vietnamese shrimp, accounting for 24.7 percent of Vietnam’s totalshrimp exports. Vietnam’s shrimp exports to this market as of September thisyear reached 648.4 million USD, up 11 percent over the same period in 2017.
Of which, the UK is the largest importer ofVietnamese shrimp, accounting for 27 percent of Vietnam’s shrimp exports to theEU. In the first nine months of this year, shrimp exports to the UK reachednearly 176 million USD, up 27.6 percent year on year.
Over the past three years, Vietnamese shrimpexports to the UK have grown steadily from 114.6 million USD in 2014 to 210.6million USD in 2017, up nearly 84 percent.
The Netherlands is the second largest exportmarket of Vietnamese shrimp in the EU, after the UK. In the first nine monthsof this year, shrimp exports to the Netherlands reached 158.6 million USD, up11.6 percent year on year. Vietnam was the largest supplier of shrimp to theNetherlands, accounting for 37.6 percent of the total import value to thismarket in 2017.
In the structure of Vietnamese shrimp productsexported to the Netherlands, white shrimp accounted for the highest volume of86 percent, followed by black tiger shrimp at 10 percent and other kinds ofshrimp at 4 percent.-VNA
VNA
