Vietnam: Shrimp exports to China slow down

Published 2022년 10월 5일

Tridge summary

Vietnam's shrimp exports to China have seen a significant increase of 56% up to 438 million USD from January to September 15, 2022, despite a decrease in July. This surge is attributed to China's high demand and a decline in its domestic production due to unfavorable weather. However, businesses face challenges in competing with domestic processors and must concentrate on maintaining their market share of preliminarily processed shrimp. Strict regulations on frozen imports and financial pressures of Chinese shrimp importers due to transportation costs and yuan devaluation could potentially decrease China's shrimp imports in the future.

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

Original content

In 3 months, 3, 4 and 5, shrimp exports to China recorded a high growth rate of 126%-140% while in the next 3 months (6,7 and 8), the growth rate was only 13%- 32%, especially in July, shrimp exports to China decreased by 17% over the same period. China's demand for shrimp imports is always high, combined with unfavorable weather, causing the country's domestic shrimp production this year to decline. Therefore, Vietnam's shrimp exports to China as of September 15, 2022 still increased by 56% to 438 million USD. China's imports in August 2022 reached a record of 95,000 tons, up 89% over the same period last year. In July, China's shrimp imports also set a record with 93,000 tons. Accumulated in the first 8 months of this year, China's shrimp imports were nearly equal to the first 11 months of last year, reaching 524,000 tons. Import value increased 64% to 3.42 billion USD. The main shrimp products exported from Vietnam to the Chinese market are live lobster, frozen whiteleg ...

Source: Vinanet