Vietnam: Raw shrimp prices fell, exports fell 35% in April

Frozen Common Shrimp & Prawn

Seafood

Vietnam

Published May 27, 2023

Tridge summary

In the first four months of this year, Vietnamese shrimp were exported to 92 markets. Among the top 10 markets for Vietnamese shrimp, exports to the US and EU recorded the biggest drop, over 45%. Exports to markets such as Japan, Korea, and China recorded a decrease of around 30%. In April 2023 alone, in the top 10 single import markets, the UK and Hong Kong were the two markets with growth rates of 2% and 16% respectively over the same period last year. The US is still the largest single import market of Vietnamese shrimp, accounting for 18% of the proportion.

Original content

As of April this year, shrimp exports to this market reached $159 million, down 45%. Particularly in April this year, exports to this market reached 55 million USD, down 42% compared to the same period last year. According to FAS.USDA data, in the first 3 months of 2023, total shrimp imports into the US reached more than 181,111 tons, worth $1.5 billion, down 18% in volume and 29% in value over the same period. The average price of shrimp imported into the US also continuously decreased. The average price of shrimp imported into the US in the first quarter of this year was about US$8.30/kg, 13% lower than the same period and 11% lower than the average price of the whole year 2022. Most countries export shrimp. to the United States fell sharply. In the context of economic difficulties in the US, US importers are mostly in a state of listening to the situation. It is expected that it will not be until August of this year that US shrimp imports can be active again. Japan ranked ...

Source: Vietstock