Vietnam: Shrimp exports to the EU market continue to grow

Published 2024년 8월 16일

Tridge summary

Vietnam's shrimp exports to the EU market have seen a significant increase of 14% in the first seven months of 2024, amounting to 241 million USD, with the Netherlands and Belgium experiencing a double-digit growth in imports. The export of shrimp to Germany also increased by 9%. This growth is expected to continue as the EU economy stabilizes and inflation decreases. However, Vietnam's traditional shrimp products may face competitive pressure, while value-added products are expected to perform better due to decreased inventories. The EU market requires shrimp suppliers to meet safety standards, reduce emissions, ensure traceability of origin, and adhere to animal welfare requirements.

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

Original content

NDO - According to the Vietnam Association of Seafood Exporters and Producers (VASEP), as of July 15, 2024, Vietnam's shrimp exports to the EU market reached 241 million USD, up 14% over the same period last year. Accordingly, exports to the Netherlands and Belgium increased by double digits, 19% and 21% respectively, while exports to Germany increased by 9% over the same period in 2023. Vietnam's shrimp exports to the EU began to record double-digit growth from April and maintained stable growth in May and June. It is expected that the EU's shrimp import demand from July to the end of 2024 will continue to increase as the EU economy gradually stabilizes and inflation continues to decrease. Vietnam's traditional shrimp products exported to the EU market will face competitive pressure from rival suppliers, while value-added products will grow better than in previous years because inventories have decreased significantly. In the structure of shrimp products exported to the EU in ...

Source: Baosoctrang