AsemconnectVietnam - Vietnam’s shrimp exports to China and Hong Kong for the first time recorded positive growth since the beginning of 2023. Along with that, many niche markets have also increased, expecting shrimp exports to have many opportunities to recover.

According to the Vietnam Association of Seafood Exporters and Producers (VASEP), in June of 2023, Vietnam’s shrimp exports reached 328 million USD, down by 21% compared to the same period of 2022. This decrease was lower than the decrease in the previous months (down from 28-35%).
In June of 2023, shrimp exports to main markets such as the US, Japan, EU, and South Korea continued to decrease by double digits. Notably, the exports to China and Hong Kong for the first time recorded positive growth since the beginning of this year.
According to the statistics figures of Vietnam Customs, June was the first month since the beginning of this year saw shrimp exports to China recorded an increase over the same period last year, up by 19% to 59 million USD. In the first half of this year, Vietnam’s shrimp exports reached 239 million USD, down by 19% over the same period last year. The rate of decline has been gradual since March of 2023.
According to the data from China Customs, the country's shrimp imports in May increased sharply by 77% year-on-year to 100,310 tonnes and the import value increased 55% to 579 million USD. Generally in the past 5 months, shrimp imports increased by 48% to 415,305 tonnes; the turnover also increased 28% to 2.3 billion USD.
Along with China, in this June, shrimp exports to a number of smaller markets recorded positive growth compared to the same period last year, such as to Australia increased by 9%; the exports to the UK increased by 23%, the exports to Taiwan increased by 20%, and to Switzerland increased by 86%.
However, shrimp exports to the EU in each month from March to June this year recorded a decrease of over 40% (down from 41%-56%) and showed no sign of cooling down. In the first 6 months of this year, EU imported 193 million USD worth of shrimp from Vietnam, down by 49% over the same period last year.
According to Dr. Ho Quoc Luc, Chairman of the Board of Directors of Sao Ta Food Joint Stock Company, in the EU market, Vietnamese shrimp competes strongly with Ecuador due to the abundant supply of raw materials from Ecuador (about hundreds thousands of tonnes are harvested every month) with good price. Ecuadorian shrimp dominates the EU market in the middle and high market segments of processed products. In this market, Vietnamese shrimp only retains the advantage in the high-end segment.
Similarly, the Japanese market bought 236 million USD of shrimp from Vietnam in the first 6 months of this year, down by 29% over the same period last year. Vietnam's shrimp exports to Japan in June of 2023 decreased by 35% - the deepest decrease since March this year.
In the Japanese market, Vietnamese shrimp also have to compete with "fierce" shrimp from India and Ecuador. The country’s exports of shrimp to Japan recorded a decrease, but Japan still increased its shrimp imports from India and Ecuador by 44% and 49%, respectively.
Besides, Vietnam's shrimp exports to Japan in the first months of this year still faced difficulties due to the sharp depreciation of the yen. By early July 2023, the yen had fallen too sharply, to above 145 yen per dollar, making it difficult to consume shrimp in this market because the selling price had to fall in line with the yen's decline.
CK
Source: VITIC/ haiquanonline.com.vn