Vietnam: Exporting shrimp to China with many opportunities but many challenges

Published Dec 29, 2023

Tridge summary

Vietnamese shrimp exports to China and Hong Kong decreased by 24% in November 2023, reaching 52 million USD, attributed to unstable demand and competition from cheap supply from Ecuador. Despite the decline, China and Hong Kong remain Vietnam's third-largest shrimp import market. China's economy is showing positive signs, and there is an opportunity for Vietnam to increase exports to the market, with the Chinese Ambassador expressing readiness to expand imports of Vietnamese aquatic and agricultural products. To take advantage of opportunities from China, B2B trade activities need to be enhanced, and there needs to be an exchange of information about market needs and regulations.

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

Original content

Vietnamese shrimp exports to China and Hong Kong continue to decrease by 24% of proportion, reaching 52 million USD in November 2023. The demand for China and HK is unstable, growing positively for 3 months from June to August, then returning to a downward trend in September, October, and November. However, the decline is not as strong as in the first months of the year. China and Hong Kong are the markets with the lowest decline among the main import markets. The demand for Vietnamese shrimp from the Chinese and Hong Kong markets not only depends on economic growth and inventory in China and HK but also heavily depends on cheap supply from Ecuador. China's demand for shrimp imports is still increasing strongly, but because there are too many supplies "rushing" to China and Hong Kong at low prices, it is difficult for Vietnamese shrimp to compete on price. In the last month of this year, Vietnamese shrimp exports to China and Hong Kong are expected to still decrease compared to ...

Source: Vasep