Vietnam saw its shrimp export value surge in September, marking the growth in eighth month in a row since February, Vietnam Association of Seafood Exporters and Producers (VASEP) said on 20 October.
In September, the country exported shrimp worth nearly USD 385 million (EUR 327.6 million), up more than 25 percent year-on-year, as most markets scaled up imports to serve upcoming year-end festivals. The sales value in the first nine months went up 10.5 percent to USD 2.7 billion (EUR 2.3 billion).
Japan was the only market that posted a decline in the month, in contrast to other top destinations.
The United States was the largest buyer of shrimp from Vietnam in September with the export value growth of 36.9 percent. Between January and September, Vietnam shipped shrimp worth USD 634.4 million (EUR 540 million) to the U.S., an increase of 33 percent from a year ago. Exporters from Vietnam saw the U.S. a stable market for their products, with rising demand from the retail sector.
The value of shrimp exports from Vietnam to the European Union also soared 35.4 percent year-on-year in September to USD 57.6 million (EUR 49 million). The sales value in the first nine months was USD 371 million (EUR 315.7 million), up 2.3 percent from the January-September period last year.
The recent surge in the value of shrimp exports from Vietnam is attributed to the positive impacts of the European Union-Vietnam Free Trade Agreement (EVFTA), which entered into force from the beginning of August.
The foodservice and tourism sectors have re-opened in Europe. Retail and online sales in the E.U. are also on the rise, especially before the year-end festivals. Therefore, sales to the bloc are expected to continue its momentum until the end of this year.
The value of the exports to other major markets also rose in September, including China (up 22.9 percent year-on-year), South Korea (up 3.2 percent), United Kingdom (rising 54.3 percent), Canada (47 percent higher year-on-year), and Australia (up 50.7 percent).
The export value of vannamei accounted for 72 percent of Vietnam’s total shrimp export value, with the black tiger shrimp holding 16 percent and sea shrimp the remainder, VASEP said.
Photo courtesy of abdul aziz bin yunos/Shutterstock
