Vietnam upped its sales of shrimp to its two primary markets, the United States and China, in the first two months of 2022.
The country’s shrimp export value in February was USD 244.8 million (EUR 222.5 million), 55 percent higher year-on-year. Its 2022 sales value through February rose 48 percent year-on-year to USD 558 million (EUR 507.2 million), according to the Vietnam Association of Seafood Exporters and Producers (VASEP).
The U.S. remained the top buyer of shrimp from Vietnam in the first two months of 2022, purchasing products worth USD 117.5 million (EUR 106.8 million), up 61 percent from a year ago.
After a decline of 22 percent last year, the value of shrimp exports from Vietnam to China grew 41 percent year-on-year to USD 21.3 million (EUR 19.4 million) in February and rose 14 percent to USD 39.7 million (EUR 36.1 million) in the first two months of 2022.
Demand for shrimp in China is forecasted to rise significantly this year. However, Vietnamese exporters should aim to strictly follow China’s instructions for prevention of spreading COVID-19 into China through foodborne transmission, VASEP said.
As many as 52 seafood cargoes, sent by 36 Vietnamese companies, were rejected by Chinese authorities between 1 January and 11 March, 2022, with Chinese Customs saying it found traces of COVID-19 not only on the packages, but also on the seafood in the containers.
VASEP said the total value of Vietnam’s shrimp exports this year will reach USD 4 billion (EUR 3.6 billion), with the U.S., the E.U. and Japan being the main destinations for shrimp from Vietnam.
However, the country’s shrimp exports will be affected by recent increases in fuel prices, freight rates, input material costs, and other negative factors related to the COVID-19 pandemic and Russia’s invasion of Ukraine. Although Russia and Ukraine are two small markets for Vietnamese shrimp, the ongoing conflict in Ukraine is expected to create residual negative impacts to Vietnam’s shrimp sales, VASEP said.
Photo courtesy of Son Truong/Shutterstock
