Shrimp industry leads in seafood export group in 9 months of 2024

Published Oct 16, 2024

Tridge summary

Vietnam has seen a steady increase in raw shrimp prices since July, with the average price of shrimp exported to the US and Europe rising since June. Prices are expected to remain positive in the fourth quarter of 2024, but local shortages may occur due to increased Chinese purchases for the Lunar New Year and New Year holidays. The shrimp industry has been the most profitable among Vietnam's seafood export products, with a projected turnover of nearly 2.8 billion USD in the first nine months of 2024, a 10.5% increase from the previous year.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

According to the Vietnam Association of Seafood Exporters and Producers (VASEP), Vietnam's raw shrimp prices have recorded more positive changes since July. Specifically, the price of raw white-leg shrimp of sizes 50, 80, 100 pieces/kg has increased steadily from July to September. The average price of Vietnamese shrimp exported to the US and Europe has also increased since June. Export prices to China and Japan have also increased slightly. It is expected that raw shrimp prices will continue to be positive in the fourth quarter of 2024. However, there will be a possibility of local raw material shortages because this is the period when China will increase purchases for the Lunar New Year and New Year holidays, businesses need raw materials to boost production of year-end orders, a representative of the Vietnam Association of Seafood Exporters and Producers warned. In the past 3 quarters, among Vietnam's seafood export products, the shrimp industry brought in the highest export ...
Source: Vietstock
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