Shrimp exporters from Vietnam achieved sales totaling USD 1.6 billion (EUR 1.4 billion) in the first seven months of this year, representing an increase of 4.6 percent year-on-year, with the Vietnam Association of Seafood Exporters and Producers (VASEP) attributing the growth to stronger demand from main markets and an upward trend of global shrimp prices caused by an overall supply shortage.
The association’s latest figures find the Southeast Asian country has exported shrimp to 76 different markets this year, with strong increases in the values earned from three of its main markets – the United States, the EU and China.
After a sharp decline in 2015, Vietnam’s shrimp exports to the United States for January through August 2016 have grown 16.3 percent year-on-year to USD 364.8 million (EUR 326.3 million).
Exports to the EU market in the same period reached USD 315.9 million (EUR 282.6 million), up 6 percent year-on-year, with particularly strong demand coming from the Netherlands and the United Kingdom. At the same time, exports to China totaled USD 249.2 million (EUR 222.9 million), an increase of 38 percent over the corresponding period of 2015.
China’s demand for imported shrimp is increasing strongly due to higher demand for domestic consumption, the increase in people's incomes and a reduction in the supply of domestically-reared shrimp, said VASEP.
Looking ahead, the association anticipates Vietnam’s shrimp exports will continue to rise in spite of unfavorable weather for domestic production. It has estimated shrimp exports will achieve total sales of USD 3.2 billion (EUR 2.9 billion) in 2016, up 10 percent compared to last year.
