Vietnam managed to boost its shrimp sales to China in November 2022, even as it faced decreases in its exports to other most of its other major markets, according to Vietnam Association of Seafood Exporters and Producers (VASEP).
VASEP said Vietnam's shrimp sales to China reached USD 68 million (EUR 64 million) in the month, up 88 percent year-on-year. Between January and November 2022, Vietnam's cumulative shrimp sales to China hit nearly USD 616 million (EUR 580 million), up 63 percent from a year earlier.
VASEP did not provide an explanation for the increase, though it said Chinese authorities have reportedly moved to ease pandemic-related restrictions since early December, with imported cargoes no longer being required to be tested for the coronavirus before clearance.
Vietnam's shrimp sales to other major markets dropped in the month, including a 55 percent year-on-year decline in sales to the U.S. to USD 41 million (EUR 38.6 million) in November, bringing its total sales to USD 773 million (EUR 727.7 million) in the first 11 months of 2022, down 21 percent. However, VASEP said it expects U.S. sales will recover in the first quarter of 2023 due to possible lower stockpiles and a brighter economic situation.
Sales of shrimp from Vietnam to the E.U. also contracted sharply - 44 percent year-on-year to USD 37 million (EUR 34.8 million) in November - mainly due to impacts of high inflation in the bloc. The total export value to the E.U. between January and November, however, rose 19 percent year-on-year to USD 655 million (EUR 617 million).
Sales of shrimp from Vietnam to Japan also shrank 16 percent in the month compared to a year ago.
VASEP said Vietnam's shrimp sales in November slid 18 percent year-on-year, the highest decline from the beginning of 2022. The sales value in the month was also the lowest monthly level since March 2022.
In the first 11 months of 2022, Vietnam shipped shrimp worth more than USD 4 billion (EUR 3.8 billion), up 14 percent year-on-year. The trade group hopes the country will take in USD 4.3 billion (EUR 4 billion) from shrimp sales in 2022, up 10 percent over its 2021 total.
Photo courtesy of Vietnam Stock Images/Shutterstock
