Vietnam is selling the most shrimp to the Chinese market

Published 2024년 6월 11일

Tridge summary

In the first five months of 2024, Vietnam saw a 7% increase in shrimp exports, totaling 1.3 billion USD, with whiteleg shrimp making up 72% of the exports and black tiger shrimp 12%. Lobster exports also saw a significant increase. However, processed shrimp exports decreased, while live/fresh/chilled/frozen shrimp products increased. China has become the top shrimp import market, replacing the United States, due to a surge in blue lobster imports. The US Department of Commerce is investigating potential anti-subsidy tariffs on Vietnamese shrimp, which could impact exports to the US. The industry faces challenges in competing with high production costs and other countries like India, Ecuador, and Thailand. The EU market growth is hampered by sustainability issues and upcoming regulations.

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

Original content

According to the Vietnam Association of Seafood Exporters and Producers (VASEP), in the first 5 months of 2024, shrimp exports reached 1.3 billion USD, an increase of 7% over the same period in 2023. Of which, whiteleg shrimp accounted for 72 % with a value of nearly 935 million USD, an increase of 21%, black tiger shrimp accounts for 12% reaching 155 million USD, a slight increase of 1% over the same period in 2023. Lobster also accounts for a significant proportion, accounting for more than 8% reaching over 106 million USD, with a breakthrough increase of nearly 70 times compared to the same period in 2023. In addition, exports of iron shrimp, crayfish, mantis shrimp, and zebra shrimp have also tended to increase positively in recent times. In the first 5 months of 2024, China increased imports of blue lobster from the Vietnamese market 112 times. In the first 5 months of this year, exports of processed shrimp products tend to decrease. Of which, processed whiteleg shrimp with ...

Source: VNRuralEconomics