Vietnam exported USD 330.2 million (EUR 292.5 million) worth of shrimp in May, 0.6 percent higher year-on-year, with considerable growth seen in the U.S. and Chinese markets, according to latest data from Vietnam Association of Seafood Exporters and Producers (VASEP).
In the first five months of 2020, Vietnam’s export value reached USD 1.2 billion (EUR 1.06 billion), up 2.3 percent from 2019’s January-May period.
Farmed vannamei accounted for 69.5 percent of Vietnam’s total shrimp exports between January and May, followed by black tiger shrimp with 19.2 percent. The rest was wild-caught shrimp. The export value of vannamei rose 8 percent year-on-year in the time period, while that of black tiger shrimp declined 16 percent in the period.
Vietnam’s shrimp exports to Japan tumbled in May, dropping 19.5 percent in value year-on-year, VASEP said. However, the export value to Japan in the first five months still increased 3.2 percent to USD 225.6 million (EUR 200 million) due to growth earlier in the year.
Vietnam’s shrimp exports to the U.S. surged 29.5 percent year-on-year to USD 65.8 million (EUR 58.3 million) in value in May, the fifth month in a row of positive export growth. The export value to the U.S. between January-May has soared 20.4 percent to USD 224.5 million (EUR 199 million). VASEP attributed the surge to Vietnam’s better market position resulting from the government’s handling of the COVID-19 outbreak, especially compared to India and Ecuador. While processors in India and Ecuador have struggled to overcome obstacles caused by the coronavirus outbreak, shrimp processing activities in Vietnam have remained at normal levels due to extensive and effective containment measures undertaken by the country’s government.
Exports of shrimp from Vietnam to China also rose in April and May, following a drop in the first quarter. The export value in May totaled USD 60.3 million (EUR 53.4 million), up 3.9 percent from the same month last year. However, sales have fallen 9.5 percent to USD 169 million (EUR 150 million) in the first five months of 2020.
VASEP said it expects shrimp exports from Vietnam to keep growing in the coming months. Shrimp prices are forecasted to rise in the beginning of the third quarter, as stockpiles in Japan, U.S., and the European Union are not as high as previously expected. Supplies in China are lower due to impact of the spread of decapod iridescent virus 1 (DIV1).
Shrimp prices are further rising as the supply chains in other major shrimp-producing, including Indonesia and Thailand, have been affected by the COVID-19 crisis, VASEP said.
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