Shrimp export to US increases by 18.2% in Q1

According to the Vietnam Association of Seafood Exporters and Producers (VASEP), Vietnam’s shrimp export turnover in the first quarter was at USD628.6 million, a slight increase of 1.8% compared to the same period in 2019. In particular, shrimp exports to the US market recorded the most positive growth among the major import markets.

The US ranked second in Vietnam's shrimp imports. With turnover of USD115.5 million, it was an encouraging growth for Vietnamese shrimp export businesses during interruption of export activities caused by COVID-19.

According to the Import and Export Department under the Ministry of Industry and Trade, the US usually orders shrimp imports about 2 months in advance. Therefore, US shrimp imports in the first 2 months of 2020 were not affected by COVID-19. There was a sharp increase in shrimp demand in the US in late 2019 due to positive economic development, reasonable price of shrimp and an increase in sale of shrimp for US food businesses. In addition, companies have a tendency to prepare shrimp for the Easter holiday and the increasing consumption of shrimp in summer.

COVID-19 spreading widely in the US has caused delay in imports, including shrimp import. However, there is still an increase in retail consumption due to the needs of people.

Currently, the largest shrimp exporter to the US, India, the major competitor of Vietnamese shrimp in the US market, is facing many difficulties due to COVID-19./.