Vietnam shrimp exports to rise 40% in March
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Vietnam's shrimp exports are expected to continue growing by about 40 percent in March 2022 due to strong market demand.
According to an analysis by shrimp market experts from the Vietnam Association of Seafood Exporters and Producers (VASEP), the structure of Vietnam's shrimp exports in the first two months of this year showed double-digit export growth in South American white shrimp and black tiger shrimp, 49% and 54% respectively. In particular, exports of processed black tiger shrimp grew 119 percent.
The U.S. continues to be Vietnam's largest single shrimp import market, accounting for 21 percent of total shrimp exports. Shrimp exports to the U.S. continue to maintain the growth momentum of 2021. In the first two months of this year, shrimp exports to the U.S. were $117.5 million, up 61 percent year-over-year. Demand for seafood imports, including shrimp, continues to increase as the U.S. market reopens following the New Crown outbreak. Vietnam remains the fourth largest supplier of shrimp to the U.S. market, behind India, Ecuador and Indonesia.
Shrimp exports to China showed good signs of growth recovery in the first two months of the year. in February 2022, Vietnam's shrimp exports to China reached $21.3 million, up 41 percent from February 2021. In the first two months of this year, exports to this market reached $39.7 million, up 14 percent from the same period last year.
China is one of the world's largest consumer markets for shrimp, with a large foodservice channel. Chinese shrimp imports are expected to increase significantly in 2022. However, China's customs tightened regulations on imported food during the New Crown outbreak. Companies exporting to this market need to ensure control and prevention of New Crown virus during shrimp production and export to China.
Shrimp exports are expected to continue to grow by about 40% in March 2022 due to strong market demand, and are expected to reach about $4 billion for the year, up 3% from 2021.
Consulting service for China's imports & exports, please contact us.
Ms. Linda Li
0086（0）21 3538 3306
sinoloben@thecustoms.com.cn
As food importer & food distributor based in Frankfurt and Shanghai, Sinoloben Europa Trading GmbH helps client export to China and bring your food products to International Expo, e.g. China International Import Expo (CIIE), the world's largest import-themed expo.
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