Vietnam and the 2 largest shrimp suppliers to the US make a sprint at the end of the year

Published 2021년 9월 22일

Tridge summary

In July, US shrimp imports experienced a 12% increase compared to the same period last year, totaling 76,000 tons. The first seven months of 2021 saw a significant rise in imports from India and Ecuador by 25% and 22%, respectively, while Vietnam's share remained at 9%. Frozen shrimp, accounting for 37% of imports, saw a 16% increase in volume and a 14% increase in value, with India and Ecuador as the leading suppliers. Challenges in China's imports from these countries have led to a shift in focus towards the US market, anticipating further growth in shrimp imports. Despite logistical challenges and high container costs, Vietnam's advantage in value-added processing could potentially increase its market share. The US shrimp market is expected to remain strong due to holiday demand, with retailers taking steps to ensure supply. The Vietnamese shrimp industry is urged to stabilize production by prioritizing worker vaccinations, improving domestic transportation, and securing support for input cost reductions.

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

Original content

According to the Association of Seafood Exporters and Producers (VASEP), in July, US shrimp imports reached 76,000 tons, up 12% compared to July 2020. Accumulated in the first 7 months of this year, US shrimp imports reached 478.5 thousand tons, of which imports from India and Ecuador both increased by 25% and imports from Vietnam increased by nearly 40% over the same period in 2020. Although Vietnam's shrimp exports to the US have grown positively, Vietnam's shrimp market share is still limited, accounting for only 9%. While, India's market share accounts for 36%, Ecuador accounts for 22% of the total volume of US shrimp imports. In the first 7 months of this year, frozen shrimp is the main shrimp product imported into the US, accounting for 37% of the total volume of US shrimp imports, up 16% in volume and 14% in value over the same period last year. In which, India is the largest supplier of this product, up 16% in volume and 14% in value over the same period last year. Ecuador ...

Source: Vietnambiz