Vietnam’s shrimp exports to China increased 30 percent in value in the first-half of this year, reaching USD 283 million (EUR 237.4 million), said the Vietnam Association of Seafood Exporters and Producers (VASEP).
According to VASEP this particular trade made a strong recovery in the second-quarter, surging 57.6 percent following a fall of 3.9 percent in the previous three months.
In total, China imported more than USD 777 million (EUR 651.9 million) worth of shrimp in H1 2017, mainly from Argentina and Vietnam. Its imports are mainly in the form of frozen warmwater shrimp, followed by frozen coldwater shrimp.
The proportion of warmwater shrimp is stable, while that of coldwater shrimp is on the rise, forcing Vietnam to compete with not only exporters in Asia but also with coldwater shrimp providers from Argentina and Canada, said VASEP.
However, thanks the ASEAN-China Free Trade Agreement, Vietnam can enjoy tariff preferences when exporting shrimp to the market.
It is projected that Vietnam’s shrimp exports to China in the second-half of the year will continue to grow given China’s shrinking output as a result of its policy to boost imports for re-export.
The association also highlighted that the transport cost for the Chinese market is lower, and there are no technical barriers and duty impositions like those encountered in accessing the U.S. market.
