Vietnamese shrimp occupies an overwhelming market share in Australia

Published 2021년 8월 12일

Tridge summary

Vietnam's shrimp exports to Australia saw a significant increase in the first half of the year, reaching $89 million, a 81% rise from the previous year, making it the fastest-growing major market for Vietnamese shrimp. Despite the higher price per kilogram compared to rival countries, Vietnamese shrimp have been competitive in the Australian market. In the first five months of 2021, Vietnam was the leading supplier of shrimp to Australia, contributing 62% to the total imported shrimp value. The COVID-19 pandemic initially impacted Australia's shrimp imports but businesses have since adapted, implementing changes like increased door-to-door delivery and prioritizing card payments. These adjustments, along with the less severe COVID-19 situation in Australia compared to other countries, are expected to continue fueling growth in shrimp exports to Australia throughout the rest of the year.

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

Original content

In the first half of this year, shrimp exports to Australia reached $89 million, up 81% over the same period last year. This is the market that recorded the best growth among the main shrimp import markets of Vietnam. As a potential shrimp export market in the CPTPP market, in the past two years, the export value of shrimp (especially vannamei shrimp) to the Australian market has been positive. In the second quarter of 2021, there are 81 Vietnamese enterprises participating in exporting shrimp to this market, the largest of which is Minh Phu Seafood Corporation Joint Stock Company. According to the latest statistics of ITC, in the first 5 months of 2021, Vietnam, Thailand, China, Malaysia, and Brunei are the top 5 shrimp supplying markets for the Australian market, in which, Vietnam is the largest market. , accounting for an overwhelming share of 62% of the total value of imported shrimp. Next, Thailand ranked second, accounting for 16%, China ranked third, accounting for 10%. ...

Source: Vietnambiz