Vietnamese Shrimp Exports to The EU Rise by 86%

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Published Jan 26, 2022

According to the Association of Seafood Exporters and Producers (VASEP), Vietnamese shrimp shipments to the EU increased by 86% in November, with exports to the US and Korea rising by 24% and 16%, respectively. The country's shrimp exports rose by 16% to over USD 366 million during November, pushing Vietnam's total shrimp exports up by 3.4% to USD 3.55 billion, compared to the same period in 2020. Vietnamese shrimp exports were forecast to rise by 4% compared to 2020, reaching USD 3.9 billion in 2021. According to VASEP, the country's shrimp exports could reach USD 4.3 billion in 2022, increasing by 10%.

Whiteleg and black tiger shrimp exports flourish

Vietnamese whiteleg and black tiger shrimp shipments increased by 82% and 158%, reaching more than USD 51 million and USD 12.6 million, respectively. By the end of November, whiteleg shrimp shipments to the EU in 2021 increased by 16% compared to the previous year reaching USD 437 million, accounting for 80% of the country's shrimp exports. Black tiger shrimp shipments rose by 31% to USD 87 million, accounting for 16% of Vietnam’s shrimp exports.

According to VASEP, Vietnam is the largest supplier of steamed/boiled vannamei shrimp in the EU due to the country's rich processing industry and ASC-certified products. Vietnam is the leading global producer of black tiger shrimp and the second-largest supplier of black tiger shrimp to the EU. Most of Vietnam's black tiger shrimp are sold in major supermarkets and high-end food-service markets in the EU, where ASC certification is required. In these markets, Vietnamese exporters face limited competition.

Netherlands, Germany, and Belgium lead the EU market

Vietnamese shrimp exports to the EU rose sharply by 86.4%, reaching USD 66.5 million in November 2021, with exports to the Netherlands, Germany, and Belgium increasing by 47%, 87%, and 118%, respectively. These three nations are key EU seafood trading centers, as they are strategically located. The three ports, Rotterdam, Hamburg, and Antwerp, allow Germany, and Belgium to act as a gateway to the rest of the EU. Shrimp imports through the port of Rotterdam (Netherlands) accounted for the highest proportion, at 23%; followed by the port of Hamburg (Germany), at over 14%; and the port of Antwerp (Belgium) accounting for over 12.2%. Significant increases also occurred in France, Denmark, Sweden, and Italy, with Vietnamese shrimp shipments rising by 161%, 99%, 196%, and 123%, respectively.

Market Outlook

According to VASEP, Vietnam's shrimp industry has a competitive advantage over other global suppliers due to the country's stable quality and product diversity. According to the Vietnamese Ministry of Agriculture and Rural Development, rising shrimp prices have enabled Vietnamese processors and exporters to recover from the effects of COVID-19. Recently, Vietnam has signed 16 free trade agreements, boosting the capacity of the country's chain-based production, allowing tracing of all the stages in production, processing, and export. According to the Vietnamese Ministry of Agriculture and Rural Development, the export target for Vietnamese shrimp in 2022 is between USD 3.9 billion and USD 4.1 billion.