Strong growth shown by shrimp exports
2018-01-11 18:32:58   copyfrom:    hits:

Shrimp processing plant (Photo: LarEll)VIET NAMWednesday, January 10, 2018,02:10 (GMT + 9)Exports of Vietnamese shr

Shrimp processing plant. (Photo: LarEll)


Click on the flag for more information about Viet NamVIET NAM 
Wednesday, January 10, 2018, 02:10 (GMT + 9)


Exports of Vietnamese shrimp experienced strong growth in 2017, a trend that the Association of Seafood Producers and Exporters of Vietnam (VASEP) expects to continue this new year.

According to VASEP estimates, Vietnamese shrimp sales abroad generated some USD 3.8 billion last year, USD 700 million more than in 2016 and USD 400 million more than what had been projected.

The European Union (EU), China, Japan and South Korea were the markets with the highest demand for shrimp, especially during the holiday season.

The statistics for the first 11 months of 2017 indicate that the EU was the main destination: its purchases grew by 42.4 percent year-on-year, to USD 780 million, and represented 22.2 percent of the total value of Vietnamese shimp exports. 

China's shrimp exports increased 60.2 percent to USD 637.9 million, while shipments to the United States dropped 87.8 percent due to high anti-dumping duties.

Truong Dinh Hoe, general secretary of VASEP, emphasized that the strict control of the use of antibiotics favored the growth of shrimp exports. The increase in exports of processed products and increased demand for Vietnamese crustacean also had a positive effect.

For his part, Tran Van Linh, president of Thuan Phuoc Seafood and Trading Corporation, told Vietnam News that farming technology improvement, the reduced use of antibiotics and the expansion of organic aquaculture have contributed to positioning the Vietnamese shrimp in the international market.

In addition, the businessman said that the new Free Trade Agreement between Vietnam and the EU will be of great help to compete for the Thai and Indonesian shrimp market.

Exports from Vietnam to China will also benefit, as that country reduced the import tariff of frozen shrimp from 5 percent to 2 percent.

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