Vietnam: Shrimp exporters focus on added value

Published 2023년 3월 27일

Tridge summary

In February 2023, Vietnam's shrimp exports experienced a significant decline of 12%-35% in major markets, with the exception of China, Australia, and France. The first two months of the year saw a decrease in exports to the US, EU, and Japan, but a slight increase in exports to China and Hong Kong. Despite these challenges, including global inflation, economic instability, and increased competition from Ecuador and India, the Vietnam Association of Seafood Exporters and Producers (VASEP) remains optimistic, citing opportunities for businesses to reduce costs, add value, and improve product quality. The association also anticipates a recovery in market demand from the second quarter of 2023.

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

Original content

According to Ms. Kim Thu, shrimp market expert of the Vietnam Association of Seafood Exporters and Producers (VASEP), in February 2023, shrimp exports to major markets decreased by 12%-35%, a Some markets have shown signs of growth such as China, Australia and France, increasing from 4-7%. Among the top 5 main import markets, shrimp exports to the US and EU decreased sharply; shrimp exports to Japan and Korea also decreased but the rate of decrease was less; Exports to China showed signs of recovery, up 4%. In the first 2 months of the year, shrimp exports to the US, EU and Japan increased from 51-58 million USD. Exports to Korea reached 46 million USD, exports to China and Hong Kong reached 34 million USD. Exports to these markets in the first 2 months of this year decreased by 16%-51% over the same period. In terms of shrimp production output, shrimp farming is in a transitional phase towards improving quality, in many places farmers focus on renovating and repairing ponds and ...

Source: Haiquanonline