Vietnam saw the value of its shrimp exports rise for the first time in November after falling through August to October, with the increase seen in many major markets.
The country exported shrimp products worth nearly USD 309 million (EUR 278.6 million) in November, 1.5 percent higher year-on-year, according to a statement from the Vietnam Association of Seafood Exporters and Producers (VASEP).
The rise in export value in the month was due to higher material prices and increasing demand from key markets ahead of year-end seasonal holidays. Of the nine main markets for shrimp from Vietnam, the value of exports to Japan and South Korea dropped in the month, while all others went up. Exports to China and Australia even witnessed a double-digit increases in November, respectively, VASEP said, without providing further details.
Exports to the European Union were worth USD 55.7 million (EUR 50.2 million) in November, up 1.3 percent from the same month in 2018, following a continuous year-on-year decline beginning in July 2019. The value of exports to the United Kingdom and Germany in November increased 3 percent and 10 percent year-on-year, respectively, while the export value to the Netherlands fell 20.7 percent.
The value from whiteleg shrimp accounted for 79.5 percent of the total sales value to E.U. in the month, while the value from giant tiger shrimp contributed 12.6 percent to the total.
Vietnam exported shrimp worth USD 54.4 million (EUR 49 million) to China in November, rising 17.6 percent from a year earlier.
Exports to China are expected to keep the momentum in late 2019 and early 2020 to serve higher demand during Chinese Lunar New Year, VASEP said.
Between January-November, Vietnam earned USD 3.1 billion (EUR 2.8 billion) from exports of shrimp, down 5.7 percent year-on-year. Of the total, the export value of whiteleg shrimp was USD 2.2 billion (EUR 2 billion), down 3.9 percent year-on-year, while the giant tiger shrimp’s value stood at USD 636.2 million (EUR 573.6 million), down 15.7 percent, and the export value of other sea shrimp was USD 293.9 million (EUR 265 million), 7.4 percent higher than 2018’s period.
Major markets for shrimp from Vietnam in the first 11 months included E.U. with USD 636.5 million (EUR 574 million), down 18.4 percent; U.S. with USD 601.5 million (EUR 542.4 million), up 1.3 percent; and China with USD 493 million (EUR 444.5 million), 9.6 percent higher year-on-year.
Vietnam is expected to earn value of USD 3.4 billion (EUR 3.1 billion) from sales of shrimp in 2019, down 4 percent from 2018, as export values tumbled in many months of the year, VASEP said.
Photo courtesy of Trieu Tuan/Shutterstock
