Vietnam shrimp exports to China
(10/3/2019 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.
businesses need to pay attention to new
requirements on quality, traceability as well as regulations, standards
on packaging, goods labeling and regional bar codes for sustainable
exports as well as enhance value added.
VIFEP (Vasep)
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