Shrimp exporters from Vietnam achieved sales totaling USD 1.4 billion (EUR 1.2 billion) in the first-half of this year, representing an increase of 4.8 percent year-on-year, though growth is slowing due to a raw material shortage, confirmed the Vietnam Association of Seafood Exporters and Producers (VASEP).
The association’s latest figures find the Southeast Asian country exported USD 732.2 million (EUR 649.1 million) worth of shrimp in the second-quarter, up 2.3 percent year-on-year, which was lower than the growth of 7.9 percent seen in Q1 2016.
The growth in shrimp exports was thanks to a recovery in importing demand from Vietnam’s main markets, lower inventories, a more stable exchange rate and a rise in shrimp prices, said VASEP. But it added that shrimp production in Vietnam and other regions will not grow this year, which could see global prices increase 10 to 15 percent after the “sharp decrease” in 2015.
In terms of species, sales of whiteleg shrimp (Litopenaeus vannamei) products increased by 5.2 percent to USD 794 million (EUR 703.9 million) in H1 2016; exports of black tiger shrimp (Penaeus monodon) products brought in USD 444.5 million (EUR 394.1 million), an increase of 5.3 percent; while exports of other marine products fell by 0.5 percent to USD 113 million (EUR 100.2 million).
After a sharp decline in 2015, Vietnam’s shrimp exports to the United States have achieved positive growth this year, totaling USD 299 million (EUR 265.1 million) in H1 2016, up 13.8 percent year-on-year. VASEP expects this trend to continue in the second-half of this year.
Exports to the EU market have also grown in H1 2016, reaching USD 262.3 million (EUR 232.5 million), up 6.5 percent year-on-year, with particularly strong demand coming from Germany, the Netherlands and the United Kingdom.
Looking ahead, salinity challenges will see the shrimp supply shortage continue, which will result in Vietnam achieving exports of USD 3.2 billion (EUR 2.8 billion) in 2016, up 10 percent compared to last year, estimated VASEP.
