Vietnam's $4 billion shrimp export target for 2024 within reach

Vietnam's shrimp exports to China and Hong Kong in October amounted to $91 million, up 44%. Accumulated by October 2024, shrimp exports to this market reached $676 million, up 31% year-on-year. Shrimp exports to this market are more promising, especially with lobster exports surging 157% to $298 million in the first ten months of this year. China's consumer stimulus policies have also contributed to boosting imports into this market. Vietnam's shrimp exports to the US in October exceeded $80 million, up 17%. In the first ten months, shrimp exports to this market reached $646 million, up 10% year-on-year. Shrimp imports into the US from the top three suppliers have all decreased, raising concerns about supply shortages. Improved market sentiment and an optimistics economic outlook, coupled with declining inventories and a balanced supply-demand situation, have led to expectations of higher US imports and improved shrimp prices in this market. Proposals to increase import tariffs on ...