Vietnamese shrimp exports to China enjoy rebound

Vietnam’s shrimp exports during the eight-month period of the year to China soared by 21% to reach US$477 million against the same period from last year, according to figures released by the General Department of Vietnam Customs.

Vietnamese shrimp exports to this market throughout the reviewed period recorded a decrease in May before rebounding in June and then enjoying robust growth in July and August.

Statistics indicate that China imported 610,249 tonnes of frozen warm-water shrimp worth US$2.95 billion from January to August, down 10% in volume and 21% in value compared to the same period from last year.

Ecuador remained China’s largest shrimp supplier with turnover falling by 20% to more than US$2 billion, followed by India with US$485 million, and Thailand with US$140 million.

The Vietnam Association of Seafood Exporters and Producers (VASEP) stated that the northern neighbour’s shrimp import volume for the entire year is likely to drop by 11% to only 933,083 tonnes, lower than the figure of more than one million tonnes last year.

Experts attributed this to China’s economy facing difficulties while domestic shrimp prices remain low, therefore making importers more cautious.

Vietnamese shrimp exports to this market ahead in the remaining of this year are expected to recover due to the rising demand to serve the National Day holiday from October 1 to October 7 in the neighbouring country.