Vietnam's shrimp exports in October recover, businesses race for the target of 3.8 billion USD

Published 2021년 11월 23일

Tridge summary

Vietnamese shrimp exports in October bounced back to pre-pandemic levels, with a total turnover of $425 million, in line with October 2020 figures. Vannamei shrimp, which made up 77% of the exports, saw a nearly 10% increase in value over the same period. The US and EU markets experienced growth in shrimp imports from Vietnam, whereas exports to China continued to decline due to strict quarantine policies and domestic production challenges. The Association of Seafood Exporters and Producers (VASEP) is working towards a target of $3.8 billion in shrimp exports, advocating for vaccine coverage and supportive policies for the industry's recovery and growth.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Shrimp exports to the US, EU grow well According to the Association of Seafood Exporters and Producers (VASEP), in October, shrimp exports gradually recovered after a sharp decline in August and September. Export turnover reached 425 million USD, equivalent to the same period in 2020. Notably, the export value of vannamei shrimp reached US$327 million, up nearly 10% over the same period in 2020, accounting for 77% of shrimp export turnover. The rest, the export value of black tiger shrimp and marine shrimp accounted for 23%. According to VASEP, shrimp exports to the US, EU, and South Korea markets all increased while exports to China continued to decrease. Specifically, in October, shrimp exports to the US reached 118 million USD, up 19% compared to October 2020. Accumulating 10 months, shrimp exports to this market reached US$893 million, up 22% over the same period last year. Currently, the demand for US shrimp imports from Vietnam has been quite stable since the COVID-19 ...

Source: Vietnambiz