Vietnamese shrimp exports rose by 13% in July 2019, down slightly by
1.6% in August and continued to decrease by 7.4% in September.
Vietnamese shrimp exports in September 2019 reached US$307.3 million,
decreased by 7.4%. Accumulated in the first 9 months of 2019, shrimp
exports reached US$2.4 billion, down 7% from the same period in 2018.
the first half of 2019, shrimp production increased, raw shrimp prices
decreased, while shrimp inventories at markets were high. Besides, the
supply of shrimp from other countries also lifted, resulting in lower
prices of imported shrimp in markets compared to the same period in
2018. Therefore, shrimp exports continued the downward trend from 2018.
Exports decreased mainly due to poor export results in the first half of
the year. In July, export showed signs of recovery but exports slowed
down in August and September.
the first 9 months of 2019, in the structure of Vietnamese shrimp
export products, whiteleg shrimp accounted for 69.4%, black tiger shrimp
represented for 20.9% and the rest was marine shrimp. White leg shrimp
exports reached US$1.7 billion, down 5.8% over the same period in 2018;
Black tiger shrimp exports reached US$508.2 million, down 16%; Other
marine shrimp exports reached US$236.5 million, up 6.3%. Processing of
black tiger shrimp had the strongest decline of 35% while canned shrimp
exports had the highest growth increased at 33.5%.
September 2019, shrimp exports to Vietnamese largest shrimp importer -
the EU, reached more than US $ 61 million, down 23% compared to
September 2018. In the 3 main importers of Vietnamese shrimp in the EU
(the UK, Netherlands, Germany), exports to the UK and the Netherlands
decreased by 2 -digits, at 37% and 32% respectively, exports to Germany
declined by 9%. Accumulated in the first 9 months of 2019, shrimp
exports to the EU reached US$ 513.4 million, down 20.8% over the same
period in 2018.
Averaged import price of shrimp of
these markets decreased by US$1/kg compared to 2018. The prices in the
UK decreased from US$12 to US$11, that of in Germany slid from US$10.8
to US$9.8, and that of in Netherlands decreased from US$11 to
US$9.57/kg. Compared to other countries such as India and China, the
price of imported shrimp from Vietnam was still higher from 15 to 20%
EU accounted for about 31% of the world's total shrimp imports and made
up 21% of Vietnam's shrimp exports. If enterprises can take advantage
of tariff incentives from the EVFTA and effectively apply the rules of
origin, Vietnamese shrimp exports to the EU might have an opportunity to
increase from 2020. However, exports to the EU in the second half of
the year are not likely to recover.
positive growth in 4 months from May to August, Vietnamese shrimp
exports to the US in September 2019 decreased by 18% to US $ 64.7
million. In the first 9 months of 2019, shrimp exports to this market
reached US$476.9 million, an increase of 1% over the same period in
US was still Vietnam's second largest shrimp importer after the EU,
accounting for 19.6% of Vietnam's total shrimp export value to markets.
In the US market, India was still
the leading market share (accouting for 38%) but the averaged price of
Indian shrimp in this market plummeted from US$10 to US$8.6/kg, while
Vietnamese shrimp prices decreased from US$12. to US$11/kg, Vietnam's
market share went down from 11% to 8.3%. Compared to Asian and Latin
American shrimp supply to the US market, Vietnamese shrimp prices
remained at the highest levels.
for US shrimp imports from Vietnam was more positive from May to August
due to reduced inventories while the US also reduced imports from
India, Thailand and sharply went down imports from China. However, the
US applied the seafood import monitoring programme (SIMP) for seafood
imported from Vietnam, including shrimp, which also caused many
difficulties for Vietnamese enterprises to the US.
the first 9 months of 2019, shrimp exports to Japan reached US $ 444.7
million, down 1.9% compared to the same period in 2018.
the Japanese market, although the export volume was stable and the
demand of the market did not increase, the average export prices
decreased by US$1/kg from US$12 to US$11, resulting in decreasing in the
export value to this market. Meanwhile, shrimp prices from Thailand and
Indonesia were stable at US$11/kg, Indian shrimp prices fell slightly
exports to China increased by 7.2% to US$382.3 million in the first 9
months of 2019 thanks to continuous positive growth from July to
exports tend to be more positive in the US, China and Japan in the last
months of the year when inventories decreased. However, exports to the
EU market in the last months of the year have not recovered. Competition
on shrimp prices is still a big pressure for businesses. Vietnamese
shrimp exports for the whole year of 2019 are expected to reach about US
$ 3.4 billion, down 4% compared to 2018.