Shrimp exports to China went up

(10/2/2019 12:00:00 AM)

Vietnamese shrimp exports to China rose by 10% to nearly US$47 million in June 2019. In the first six months of 2019, exports to this market declined by 4.9% to US$233.5 million.

Vietnam shrimp exports to China fell incredibly in 2018 and in the first months of 2019 due to a sharp increase in Chinese shrimp imports from India, Ecuador (those countries had lower price than Vietnam shrimp). In the first quarter of 2019, Chinese shrimp imports from India went up by 624% in volume and 573% in value over the same period in 2018. In the first half of 2019, Ecuadorian shrimp exports to China increased by 224% in volume and 185% in value compared to the same period in 2018.

There were some of causes that made the decline in shrimp exports to China in recent time. Chinese Customs has been tightening trade in agricultural and aquatic products through border trade. Besides, Vietnamese shrimp had to compete firecely with Indian and Ecuadorian shrimp.

China was the 4th largest shrimp importer in the world, accounting for 6.9% of the total shrimp imports all over the world in 2018. Demand of shrimp imports for domestic consumption and re-export of China was still stable. Shrimp is always the most concerned product in seafood expo in China.

Vietnam ranked 6th among the main shrimp suppliers to China, accounting for 5.7%. In terms of import prices, on the Chinese market, shrimp import prices from Ecuador, India and Indonesia were always the most competitive. The average import prices from Thailand were the highest, while the price of Vietnamese shrimp ranked second in the Chinese market. Vietnamese shrimp must compete in prices with Asian suppliers in this market.

According to the International Trade Center (ITC), China's shrimp imports in the first 5 months of this year reached US$1.4 billion, up by 196% year on year. Ecuador was the largest shrimp supplier to China; India and Thailand ranked second and third respectively. Shrimp imports into China from the top 5 suppliers all grew well compared to the same period in 2018.

Vietnamese shrimp exports to China has shown signs of increasing in May and June. The export value of the whole year to this market is likely equivalent to 2018.