Raw shrimp prices, the weakness of which caused a decrease in Vietnamese exports during April 2018, are expected to recover "in the coming time", according to the Vietnam Association of Seafood Exporters and Producers (VASEP).

"Major shrimp-producing countries, such as India, Bangladesh, and Thailand, have been over-harvested and expected to reduce supplies in Q3 and Q4 this year. In addition, many Vietnamese shrimp exporters have begun to sign large orders for the holidays at the end of 2018 so shrimp prices are expected to increase again in August and September this year," VASEP said. 

Lower Vietnamese shrimp sales in April were offset by an increase in sales during the first three months of the year, according to VASEP.
In April 2018, Vietnam’s shrimp exports totaled $275.2 million, down 0.4% compared with April 2017. In January-April, however, Vietnamese shrimp exports increased nearly 14% year on year, reaching $1 billion. Weaker shrimp prices, however, decreased the growth rate of shrimp exports, VASEP said. 

In particular, exports of vannamei shrimp reached $687m, accounting for 67.5% of the total. 

In the first four months of 2018, Vietnamese shrimp was sent to 76 markets. Exports to the top eight markets for Vietnamese shrimp all increased except for Japan. Exports to South Korea and Australia recorded the highest growth, at 34.4% and 26%, respectively. Exports to the US and China grew by 1.4% and 4%, respectively.

In the period, Vietnamese shrimp exports to the EU totaled $189.6m, up 11%. Exports to the three main importing markets, the Netherlands, Germany, and Belgium, rose by 83.4%, 50%, and 28% respectively.

Shrimp exports to the US in the coming time still have to face high anti-dumping tax and the country's seafood import monitoring program (SIMP), VASEP noted.

As of Dec. 31, 2018, shrimp importers must comply fully with the requirements of the SIMP program.

Source: Undercurrent News
 

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