Shrimp export saw an upstream rise slightly in November

After consecutive decrease in August, September and November 2019, Vietnam’s shrimp exports swim upstream to rise slightly from last year. The export value reached nearly US$309 million in November, up 1.5%, leading to the first eleven-month export value of US$3.1 billion, down 5.7% from last year.

According to the accumulated value of the first eleven months of 2019, the white leg shrimp accounts for 69.9%, black tiger shrimp accounts for 20.6%, and the rest is marine shrimp. The white leg shrimp export value reaches US$2.2 billion, down 3.9% from last year; the black tiger shrimp export value was US$636.2 million, down 15.7%; the export value of marine shrimp reaches over US$293.9 million, up 7.4%. The sharpest decline is recorded in processed black tiger shrimp (down 31.8) and the highest increase is seen with canned processed marine shrimp (up 19.5%).

In November 2019, seven of the nine biggest importer of Vietnamese shrimp saw a positive growth with the Chinese and Australian markets experiencing double-digit increase. The remaining two markets Japan and Korea kept reducing their purchases. Once fell their imports of Vietnamese shrimp, the EU market started to make positive growth in November. The increase in the price of raw material shrimp and export, and the growing demand in the festivals and holidays run-up have resulted in slight growth of Vietnamese exports in November.

EU

According to the accumulated data of the first eleven months of 2019, Vietnam’s shrimp exports to the EU market reaches US$636.5million, down 18.4% from last year.

After the consecutive decline since July 2019, Vietnamese shrimp exports to the EU market increase by 1.3% in November, reaching US$55.7 million. As for the top three biggest importer of the EU (England, the Netherlands, German), Vietnam’s shrimp exports to England and German saw growth of 3% and 10% respectively in November while exports to the Netherlands was down by 20.7%.

The white leg shrimp is the key product to be sold to the EU, accounting for 79.5% of all shrimp products exported to this market while the black tiger shrimp accounts for 12.6% and the rest is marine shrimp.

The EU market accounts for 31% of global shrimp import volume and 21% of Vietnam’s export volume. Vietnamese shrimp may have a chance to increase its export volume from 2020 if taking advantage of the duty privileges upon the EVFTA between Vietnam and EU and the regulations of traceability.

The US

Despite slight growth early this year, Vietnam has retained its shrimp export value to the US market with sales being recorded to increase by 1.3%, reaching US$601.5 million by November.

The US is the second biggest importer of Vietnamese shrimp, trailing EU, and accounts for 19.7% of the total of Vietnam’s shrimp export volume. Increase in sales was recorded in the US market at the end of this year as the US importing companies reduced their purchases from India, Thailand and China.

The POR13 result of anti-dumping duty imposed on Vietnamese shrimp in the US has enabled the Vietnamese shrimp companies to boost their exports to this market. Vietnam’s shrimp exports to the US are expected to increase by 5% in the last quarter this year.

China

Vietnam’s shrimp export to China reached US$54.4 million, up 17.6% in November, resulting in total export value by November of US$493 million, up 9.6%. That was the brightest highlight among top six importers of Vietnamese shrimp.

Vietnam’s shrimp export to China is expected to retain its growth at the end of 2019 and early 2020 due to the growing demand of importing raw material shrimp for process in the run-up to Tet Holiday.

More positive signs of sale were recorded in the US and Chinese markets at the end of 2019. Vietnam’s shrimp export value is expected to reach US$3.4 billion, down 4% from last year.