This year, Vietnam shrimp exports have the opportunity to reach more than 4 billion U.S. dollars

This year, Vietnam shrimp exports have the opportunity to reach more than 4 billion U.S. dollars. For more information on export to China, please call SINOLOBEN, service Email: sinoloben@sloben.com.

Vietnam "Customs Online" reported on March 17, according to the General Department of Aquaculture of the Ministry of Agriculture and Rural Development, Vietnam's shrimp exports will face a new set of challenges in 2022. A survey by the Global Aquatic Alliance (GAA) shows that global shrimp production increased by about 8.9 percent year-on-year in 2021 and is expected to continue to increase in 2022. This will have a huge impact on Vietnam's shrimp industry. Specifically, there is more competition in the main export markets for Vietnamese shrimp; global shrimp raw material prices are on a downward trend, which will put a lot of pressure on the Vietnamese shrimp industry. In addition, there are changes in quarantine regulations for imported products from many countries, the challenge of food safety warnings.

 
In the first 2 months of this year, Vietnam's fish exports amounted to 1.5 billion U.S. dollars, up 51% year-on-year. Among them, shrimp exports in February amounted to 237 million U.S. dollars, up 50% year-on-year, shrimp exports in the first two months of this year amounted to 550 million U.S. dollars, up 46% year-on-year. Vietnam's main export markets for shrimp: North America, the European Union, Japan, China.
 
Despite certain difficulties and challenges, Vietnam's shrimp exports are expected to grow by 10-12% in 2022, surpassing the $4 billion mark.
 
Vietnam Association of Aquatic Processing and Export (VASEP) Secretary General Truong Dinh Hoa said that overall this year, market demand will continue to recover, but long-term and medium-term contracts are difficult to implement, shifting to short-term bulk contracts. The main markets for Vietnamese shrimp remain the United States, the European Union, Japan, China and South Korea.

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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