Up 7.9% in Vietnam shrimp exports to US

The U.S. remains to be the largest market of Vietnamese shrimp, making up 22.5% of total shrimp exports in 2016. Vietnam shrimp exports to the U.S. in 2016 reached US$708.8 million; an increase of 7.9% compared to 2015. Shrimp sales to the market reported the highest growth of 30.6% in QI/2016; sales in QII and QIII reported lower growth of 13.8% and 15.2%, respectively.

The high growth in QI/2016 thanks to its higher demand amid supply shortage from other suppliers like India, Indonesia, Ecuador, Thailand. The U.S. was in high demand for importing black tiger shrimp amid decline in harvested production of the species in India, Indonesia. It was time when the restaurants and retailers in the U.S. launched the advertising strategies and trade promotion in order to boost consumption demand for shrimp of American people.

Shrimp exports to the U.S. in QIV/2016 witnessed the decline due to lower demand, higher inventory and spychological impact from higher antidumping duty on Vietnamese shrimp imported into the U.S. in POR10.

The U.S. is the largest importer of Vietnamese whiteleg shrimp with the import value of US$547.5 million in 2016; rising 18.3% from 2015 and accounting for 77% of total shrimp imports from Vietnam to the market.

Vietnam ranked the 5th in supplying shrimp to the U.S., accounting for about 10.7% of total shrimp import volume into the market. Shrimp imports from Vietnam to the market in Jan-Nov 2016 reported the growth of 10% and 7% in volume and value. In 2016, in the U.S. market, Vietnam was surpassed by Thailand and Indonesia. While Vietnam shrimp production was affected by sanility and drought in early 2016, the shrimp production by Thailand recovered from EMS. In the U.S. market, the price of Vietnam shrimp was US$1-1.2/kg higher than those of the above competitors.

Among top 5 largest suppliers of shrimp to the U.S., imports from Ecuador into the U.S. fell the most with the decrease of 14% in volume and 7% in value compared to the same period in 2015. The U.S. tend to reduce imports from Ecuador and raise imports from Asian suppliers such as Vietnam, India, Thailand and China because these suppliers can meet US’s demand for shrimp skewers with reasonable price.