According to Vietnam Association of Seafood Exporters and Producers (VASEP), in the first 9 months of 2024, among Vietnam's seafood export products, shrimp brought in the highest export turnover, estimated at nearly 2.8 billion USD, up 10.5% over the same period in 2023.
According to VASEP, Vietnam's shrimp exports to several major markets have achieved positive results. According to annual rule, exports often accelerate in the third quarter. As of September 15, 2024, shrimp exports to the US reached 516 million USD, up 8%. Exports to the EU reached 337 million USD, up 15%. Exports to China and Hong Kong (China) reached 529 million USD, up 26%. Exports to Japan recorded a turnover of 342 million USD, down 1% (decrease was lower than at the beginning of the year).
According to data from US National Oceanic and Atmospheric Administration (NOAA), in the US market, in August 2024, Vietnam's shrimp exports recorded more positive results than other competitors such as India and Ecuador when shrimp exports from these sources to the US all decreased.
Average import price of shrimp from Vietnam to the US recorded an increase from 4.59 USD/pound in July 2024 to 4.95 USD/pound in August 2024. Price per pound also increased slightly compared to the same period last year, as average price was 4.93 USD/pound in August 2023. August was also the month that recorded the highest shrimp imports to the US since the beginning of the year, although figures still recorded a decrease compared to the same period last year.
In 2024, frozen shrimp exports will still be affected by price trend that has not clearly recovered, along with competitive selling price pressure with Ecuadorian and Indian shrimp. However, Vietnam's processed shrimp still has a good position in the markets. Therefore, by the end of September, processed white-leg shrimp exports still increased by nearly 10%, while frozen white-leg shrimp exports increased slightly by 4.5%. In the first 9 months of the year, white-leg shrimp exports reached nearly 2 billion USD, black tiger shrimp exports reached 334 million USD.
Vietnam's raw shrimp prices have been more positive since July this year. Prices of raw white-leg shrimp of sizes 50, 80, 100 pieces/kg increased steadily from July to September. Average price of Vietnamese shrimp exported to the US and EU also increased from June; export prices to China and Japan also recorded a slight increase.
VASEP expects raw shrimp prices to remain positive in the fourth quarter but there is a possibility of local raw material shortages as this is the period when China will increase purchases for the Lunar New Year and New Year holidays and businesses need raw materials to boost production for year-end orders.

Source: Vitic/ congthuong.vn