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| Shrimp exports to China increased sharply in the first month of the year. (Photo: congthuong.vn) |
The Association of Seafood Exporters and Producers (VASEP) said that in the first month of the year, Vietnam’s shrimp exports reached 242 million USD, an increase of 71% over the same period in 2023. Along with exports, prices of shrimp raw materials in some localities also tend to increase in the month. This is a positive signal to start shrimp exports in 2024.
Accordingly, exports of white leg shrimp and black tiger shrimp products recorded double-digit growth, while export value of other types of shrimp increased by 3 digits. Fresh or frozen shrimp products also grew stronger than processed shrimp products.
Among the major markets, Vietnamese shrimp exports to China and Hong Kong (China) recorded the strongest growth of 275%, valued at 42 million USD in January 2024.
Thanks to strong growth, China and Hong Kong (China) are Vietnam’s largest shrimp import markets this month, accounting for 17.5%. In 2024, shrimp exports to China are forecast to continue to welcome many opportunities thanks to large demand and import priority policies of the market.
This month, shrimp exports to the US continued the growth momentum from the last months of 2023, increasing by 77%, equivalent to 41 million USD. In the US market, Vietnam accounts for 10% of the market share, ranking 4th after India (36%), Ecuador (22%) and Indonesia (18%). In 2023, peeled raw shrimp was imported the most into the US, recording slight growth; battered shrimp and steamed shrimp recorded a decrease.
This month, shrimp exports to Japan and the Republic of Korea grew by 30% and 21%, worth 37 million USD and 23 million USD, respectively. For the EU market, after a continuous decline in 2023, shrimp exports to the market recorded an increase of 22%, worth 30 million USD./.