Shrimp export increased by 2.9% in April (Photo: congthuong.vn)
According to VASEP, in April 2020, Vietnam's shrimp exports to most major markets increased, with improved prices. Despite decreased demand of shrimp in restaurants and hotels, there is an increase in demand from supermarkets and the retail system because of the trend of buying for home processing during the COVID-19 pandemic.
Japan remains the largest shrimp import market of Vietnam, accounting for 20.7% of the total value of the country's shrimp exports. In April 2020, Vietnam's shrimp exports to Japan increased by 19%, reaching USD48.6 million, raising the turnover of shrimp export to this market in the first 4 months of 2020 to USD180.5 million, a year-on-year increase of 11%.
The US, Vietnam's second largest shrimp market, imported USD158.7 million of shrimp products from Vietnam in the first four months of this year, an increase of 17% over the same period last year. It is the only market that recorded positive growth in Vietnam's shrimp imports over the first four months of this year. The steady increase in demand for shrimp imports into the US from Vietnam is due to the reduction of shrimp imports from India and Ecuador, as the two countries’ supply sources are in trouble due to COVID-19.
Vietnam's shrimp exports to the EU in the first four months of 2020 reached nearly USD123 million, down 7.7% compared to the same period last year. Particularly in April, Vietnam's shrimp exports to the two main import markets in the UE, the Netherlands and Belgium grew, after a decline in March.
Meanwhile, Vietnam's shrimp exports to China in April reached USD39.2 million, an increase of 16.6% compared to April 2019, marking an export turnover of USD108.8 million to this market.
Vietnam shrimp exports are forecast to have many opportunities after COVID-19 as its main competitors, including India, Ecuador and Thailand, meet obstacles with the national blockade measures. Moreover, the EU - Vietnam Free Trade Agreement will help the Vietnamese shrimp industry to compete strongly in the EU, along with the low export tax of shrimp to the US market./.