Vietnam: Shrimp exports to the US and China are still positive in the last 2 months of this year, according to VASEP

Published Nov 26, 2023

Tridge summary

Vietnam's shrimp exports have been negatively impacted by various factors such as low market demand, inflation, high inventories, and conflicts in Europe and the Middle East. However, there has been a slight increase in domestic raw shrimp prices, although it mainly reflects the impact of domestic supply and demand rather than warming consumer markets. Shrimp exports to the US have shown positive growth in recent months and are expected to continue growing, but overall, Vietnam's shrimp exports for the year still decreased by 20%.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

There are many factors that negatively affect Vietnam's shrimp exports and global shrimp exports this year such as low market demand, inflation, high inventories, people tightening their spending, and conflicts in the East. Europe and the Middle East. At the same time, raw material prices and export prices have decreased, increasing challenges for both farmers and processing enterprises. Since the end of the third quarter of 2023, domestic raw shrimp prices have shown signs of increasing, which is good news for farmers; However, the price increase is mainly due to the impact of domestic supply and demand, and does not reflect much warming from consumer markets. In October 2023, shrimp exports recorded positive growth in markets such as the US, Canada, Belgium, Taiwan, and Switzerland. In particular, exports to small markets such as Taiwan and Switzerland grew positively by 21% and 11% respectively in the first 10 months of this year. It is expected that shrimp exports to the US in ...
Source: Vietstock
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