Vietnamese shrimp exports to China increased 2.5 times
Frozen Common Shrimp & Prawn
Seafood
Vietnam
Market & Price Trends
Published Mar 25, 2024
Tridge summary
The Vietnam Association of Seafood Exporters and Producers (VASEP) has noted a significant increase in demand for Vietnamese shrimp in the US and Chinese markets. In the first two months of the year, shrimp exports to the US rose by 26% to reach 72 million USD, while exports to China surged by 76% in February to 39 million USD. The high quality of Vietnamese shrimp, compared to competitors from Ecuador and India, is expected to contribute to a shrimp farming area of 737,000 hectares by 2023, producing over 1.1 million tons. Shrimp exports are projected to generate 4 billion USD for Vietnam this year, accounting for 45-50% of the country's seafood export value.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.
Original content
Vietnam Association of Seafood Exporters and Producers (VASEP), said that demand for shrimp in the US and Chinese markets has warmed again. Accordingly, shrimp exported to the US in the first two months of the year reached 72 million USD, up 26% over the same period. China is a market with a sudden growth rate, with an increase of 76% in February, reaching 39 million USD. This is the only market among shrimp importing countries that recorded positive growth in February. Accumulated in the first two months of the year, shrimp exports to this market recorded an increase of 143%, reaching more than 81 million USD. According to VASEP, in China and the US, Vietnamese shrimp is competitive in price compared to rival suppliers from Ecuador and India, but is considered by buyers to be of higher quality. For example, the price of exported shrimp in China is about 8.8-9.5 USD per kg. Vietnam is one of the largest shrimp producing countries and is in the top 4 in the world in terms of ...
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