The Vietnam Association of Seafood Exporters and Producers (VASEP) assessed that Vietnam’s shrimp exports to the EU began to record double-digit growth from April and maintained stable growth in May and June. Shrimp exports to the market are still affected by conflicts, economic and political fluctuations in the world, consumers’ frugal spending and rising prices.
|
Vietnam’s shrimp exports to the EU enjoy positive growth. (Photo: VNA) |
As of July 15, Vietnam’s shrimp exports to the EU market reached 241 million USD, up 14% over the same period last year. In the EU, Germany, the Netherlands and Belgium are the three largest import markets. In particular, exports to the Netherlands and Belgium recorded double-digit growth of 19% and 21%, respectively, while exports to Germany rose by 9%.
In the EU market, Vietnamese shrimp has to compete strongly with Ecuadorian shrimp, which is cheaper, meets ASC standards and has lower transportation costs. Ecuador is still the largest shrimp supplier to the EU.
The EU market requires farmed shrimp to meet safety standards, with solutions to reduce emissions in farming and processing, detailed traceability and animal welfare. The EU’s shrimp import demand from July to the end of the year is forecast to continue to increase due to the EU’s stable economy, stable consumer prices and falling inflation. While traditional Vietnamese shrimp products face competitive pressure from other sources, value-added products are expected to grow better thanks to reduced inventories.
In the structure of shrimp exports to the EU in the first two quarters of 2024, whiteleg shrimp accounts for the largest proportion at 80.5%, black tiger shrimp accounts for 12.4%, and the rest are other types of shrimp. In the group of whiteleg shrimp and black tiger shrimp exported to this market, processed black tiger shrimp coded HS 16 recorded a decrease, while the remaining whiteleg shrimp and black tiger shrimp products enjoyed growth.
Major shrimp exporters to the EU include Minh Phu - Hau Giang, Nha Trang Seafoods - F17, and Thong Thuan. In the second quarter of 2024, average export price of whiteleg shrimp to the EU fluctuated from 7.2 to 7.4 USD per kg, while price of black tiger shrimp fluctuated from 8.6 to 10.3 USD per kg./.