Tridge summary
Vietnam's shrimp exports have seen a decrease for the third consecutive month as of October 2022, despite an 18% increase in the first half of the year. The exports experienced a decrease of 1% and 13% in June and July respectively, but still managed to reach $3.8 billion, a 18% increase compared to the same period last year. The types of shrimp exports have seen a variation, with whiteleg shrimp increasing by 13%, black tiger shrimp by 1.2%, and marine shrimp by 106%. However, the main markets for Vietnam's shrimp, including the US, EU, UK, and South Korea, have reduced their imports, with the US and EU seeing a sharp decrease of 51% and 35% respectively. The decline in imports is attributed to factors such as market oversupply, record inflation, and fuel crisis. Despite these challenges, exports to China saw a growth of 49%.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
This is the third month since the beginning of this year, shrimp exports recorded a decrease compared to the same period last year. Previously, in June and July, shrimp exports decreased by 1% and 13%, respectively. According to the Vietnam Association of Seafood Exporters and Producers (VASEP), although shrimp exports have decreased in recent months, thanks to the breakthrough growth in the first half of the year, Vietnam's shrimp exports as of October 2022 are still increased by 18% to reach $3.8 billion. According to the analysis of Ms. Kim Thu, shrimp market expert of VASEP, in the structure of Vietnam's shrimp exports, exports of whiteleg shrimp increased by 13%, black tiger shrimp increased slightly by 1.2%, and marine shrimp increased the most. 106%. Among the exported vannamei and black tiger shrimp products, processed products outperformed live/fresh/frozen products. In October, the main markets that reduced shrimp imports from Vietnam such as the US, EU, UK, and South ...
Source: Vinanet
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