Vietnam's shrimp exports will increase by 5.7% in the first 6 months of 2020

Published 2020년 7월 24일

Tridge summary

In June 2020, Vietnam's shrimp exports experienced a significant surge, reaching 349.9 million USD, a 19.2% increase compared to the same period last year. This growth makes it the best since March 2020 and is notably resilient amidst the ongoing Covid-19 pandemic. The first half of the year saw a total export value of 1.5 billion USD, showing a 5.7% year-on-year growth. Both of Vietnam's major markets, the US and China, reported positive growth, with the US becoming the leading importer. Other countries like South Korea, the UK, and Canada also saw double-digit growth in imports. Despite challenges in other markets, as seen with suspensions of imports from Ecuadorian companies and delays in Indian exports, Vietnam's shrimp industry has shown resilience and competitiveness, with prices increasing and inventories in major markets remaining high. This performance underscores the industry's adaptability and strength, highlighting Vietnam as a key player in the global shrimp market.

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

Original content

Vietnam Association of Seafood Exporters and Producers (VASEP) said that in June 2020, Vietnam's shrimp export reached 349.9 million USD, up 19.2% compared to June 2019. This is the best growth since March 2020. In the first 6 months, shrimp export is 1.5 billion USD, up by 5.7% YoY. This is an encouraging result in the context that the Covid-19 epidemic is still ongoing in major markets. Notably, Vietnam's shrimp exports to two key markets, the US and China, in June still recorded positive growth and it is expected that Vietnam's shrimp exports to these markets will still grow well in the the next month. In the first six months of this year, whiteleg shrimp accounted for 70.1% of Vietnam's total shrimp exports, tiger shrimp accounted for 18.2%, the rest were marine shrimp. The total value of whiteleg shrimp exports increased by 11% while that of black tiger shrimp decreased by 15%. Export of processed whiteleg shrimp (HS code 16) and live / fresh / frozen white shrimp (HS code ...

Source: CafeF