Vietnam is the largest supplier of shrimp products to the UK

Published 2023년 12월 11일

Tridge summary

Vietnam is the sixth largest single exporter of shrimp to the UK, with an export volume of US$159 million as of October. Although there has been a decrease in export volume, the UK is still considered an important market for Vietnamese shrimp. Vietnamese shrimp faces competition from Indian and Ecuadorian shrimp in the British market, but Vietnam's shrimp exporters will benefit from tariff preferences in the Vietnam-UK Free Trade Agreement to compete with other countries.

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

Original content

According to news from SeafoodMedia on December 4, the UK is the sixth largest single exporter of Vietnamese shrimp. As of October, the export volume was US$159 million, a year-on-year decrease of 18%, accounting for 5.6% of total exports. Vietnamese shrimp exports to the UK have been unstable. But it is still regarded as an important export market. From 2020 to 2022, Vietnam's shrimp exports to the UK ranged from US$222 million to US$243 million. The export value in 2020 increased by 20%, and the export value in 2021 and 2022 decreased by between 3% and 5%. Shrimp products account for 10% of the British seafood market consumption. Vietnam is the largest shrimp supplier to the UK, but Vietnamese shrimps have to compete with Indian shrimps and Ecuadorian shrimps in the British market. In the first three quarters of this year, the UK's cost of importing shrimp from India and Ecuador decreased by 12% and 3% respectively, ...

Source: Foodmate