Tridge summary
Vietnam's shrimp exports experienced a significant boost in the first half of the year, with a 33% increase compared to the same period in the previous year, amounting to 2.3 billion USD and accounting for 40% of the total seafood exports. The lobster segment saw remarkable growth, with exports reaching nearly 130 million USD, a 30-fold increase from last year. Other shrimp products also saw increases in exports, with processed vannamei shrimp, fresh/frozen shrimp, and black tiger shrimp all experiencing growth. China emerged as a major market for these exports, with a nearly 29-fold increase in imports of Vietnamese shrimp in May compared to the same period last year. However, shrimp businesses are facing challenges such as price inflation and raw material scarcity. To overcome these challenges, businesses are focusing on increasing the value-added of processed shrimp for export to high-end markets like Japan, the US, and the EU.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
The Vietnam Association of Seafood Exporters and Producers (VASEP), said that in the first half of the year, shrimp exports reached 2.3 billion USD, up 33% over the same period last year and accounting for 40% of total seafood exports. In particular, lobster exports recorded a record growth, reaching nearly 130 million USD in the first half of this year, up 30 times over the same period last year. This is also the type with the leading growth rate in the shrimp group. Currently, exports of processed vannamei shrimp in the first half of the year increased by 17%, fresh/frozen shrimp by 21%, and black tiger shrimp at $300 million, up 20%. VnExpress's survey also showed that in the first half of the year, thanks to high export demand, lobster prices continuously increased, sometimes doubling, to 1.7 million dong for lobster and 1.3 million dong a year. kg with green lobster. This is the year that lobster farmers are profitable after 3 years of being affected by the Covid-19 epidemic. ...
Source: VNExpress
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