VASEP forecasts the Vietnamese shrimp export market in 2024

Recently, the Vietnam Association of Seafood Exporters and Producers (VASEP) made some comments about Vietnam's major shrimp import markets in 2024. Accordingly, for the US market, in 2023, shrimp exports to the US will reach 682 million USD, down 15% compared to 2022. However, with some positive signals from this market, it is forecasted that shrimp exports Vietnam to the US will increase slightly in 2024 when food demand improves, inflation cools down, and retail sales in the US recover. But there is also bad news that the US has initiated an anti-subsidy investigation into Vietnam's frozen warm water shrimp. It is unclear what the outcome will be, but Vietnamese shrimp exports to the US will be affected. For the Japanese market, shrimp exports to the Japanese market in 2023 will continuously decline due to high inflation in this market and a sharp decline in the yen, affecting the purchasing decisions of Japanese importers. In 2023, shrimp exports to this market will reach 511 ...