For the sixth straight month, Vietnam increased its total export value compared to the same period in 2019.
Vietnam’s shrimp export value rose 16.3 percent year-on-year to USD 388.5 million (EUR 328.7 million) in July, securing sixth months of positive growth in a row, the Vietnam Association of Seafood Exporters and Producers (VASEP) said in a 26 August release.
The country’s shrimp export value declined in January and has grown on a year-on-year basis every month between February and July.
In the first seven months, Vietnam exported shrimp worth USD 1.9 billion (EUR 1.6 billion), up 7.7 percent from the same period last year. The export value of vannamei accounted for 71 percent of the country's total shrimp export value, with tiger shrimp accounting for 17.2 percent, and sea shrimp the remainder.
VASEP attributed the increase to Vietnam’s successful containment of COVID-19, saying many buyers have shifted their orders to Vietnam as leading suppliers like India and Ecuador are still struggling with the pandemic.
The U.S. was the largest destination for Vietnamese shrimp in July with sales soaring 45.3 percent compared to July last year, VASEP said, without providing the value. This was the seventh month in a row that the value of the shrimp exports to the U.S. enjoyed the positive year-on-year growth. The exports over January-July surged nearly 33 percent year-on-year to USD 435.2 million (EUR 368.2 million) in the period.
Vietnamese exporters, whose production activities are mostly not affected by the pandemic, could fulfill orders from the U.S. buyers more quickly than their competitors, according to VASEP. Meanwhile, processors in India and Ecuador not only saw lower orders but also met with several difficulties in business operations related to local coronavirus outbreaks.
In July, Vietnam exported shrimp worth USD 51.5 million (EUR 43.6 million) to Japan, down 7.8 percent year-on-year, making the country the second-largest buyer of shrimp from Vietnam in terms of value. The export value in the first seven months grew slightly 0.2 percent to USD 329.7 million (EUR 279 million). VASEP forecasted the value of shrimp exports from Vietnam to Japan this year is likely to drop by 2 percent from 2019 due to an expected low seafood demand.
Sales to the E.U. in July rose 2 percent year-on-year to USD 54.2 million (EUR 46 million). But exports were down 5.4 percent to USD 254.9 million (EUR 215.6 million) between January and July.
The trade group said it hopes Vietnam’s shrimp export value this year will reach USD 3.6 billion (EUR 3 billion), up 8 percent from 2019.
Photo courtesy of abdul aziz bin yunos/Shutterstock
