9 months, shrimp export turnover highest in seafood group

According to the Vietnam Association of Seafood Exporters and Producers (VASEP), in the first 9 months of 2024, among Vietnam's seafood export products, shrimp brought in the highest export turnover, estimated at nearly 2.8 billion USD, an increase of 10.5% over the same period in 2023.

According to VASEP, Vietnam's shrimp exports to several major markets have achieved positive results. According to the annual rule, exports usually accelerate in the third quarter. As of September 15, 2024, shrimp exports to the US reached 516 million USD, up 8%. Exports to the EU reached 337 million USD, up 15%. Exports to China and Hong Kong (China) reached 529 million USD, up 26%. Exports to Japan recorded a turnover of 342 million USD, down 1% (the decrease was lower than at the beginning of the year).

According to data from the US National Oceanic and Atmospheric Administration (NOAA), in the US market, in August 2024, Vietnam's shrimp exports recorded more positive results than other competitors such as India and Ecuador when shrimp exports from these sources to the US all decreased.

In the first 9 months of 2024, shrimp exports brought in nearly 2.8 billion USD, an increase of 10.5% over the same period in 2023. Photo: MH

The average import price of shrimp from Vietnam to the US increased from $4.59/pound in July 2024 to $4.95/pound in August 2024. The price per pound also increased slightly compared to the same period last year, with the average price being $4.93/pound in August 2023. August was also the month that recorded the highest shrimp imports into the US since the beginning of the year, although the figure still recorded a decrease compared to the same period last year.

In 2024, frozen shrimp exports will still be affected by the price trend that has not clearly recovered, along with competitive selling price pressure with Ecuadorian and Indian shrimp. However, Vietnam's processed shrimp still has a good position in the markets. Therefore, by the end of September, processed white-leg shrimp exports still increased by nearly 10%, while frozen white-leg shrimp exports increased slightly by 4.5%. In the first 9 months of the year, white-leg shrimp exports reached nearly 2 billion USD, black tiger shrimp exports reached 334 million USD.

Vietnam's raw shrimp prices have been more positive since July this year. The prices of raw whiteleg shrimp of sizes 50, 80, 100 pieces/kg have increased steadily from July to September. The average price of Vietnamese shrimp exported to the US and EU has also increased since June; the export price to China and Japan has also recorded a slight increase.

VASEP expects raw shrimp prices to remain positive in the fourth quarter, but there is a possibility of local raw material shortages because this is the period when China will increase purchases for the Lunar New Year and New Year holidays, and businesses need raw materials to boost production for year-end orders.

Source: https://congthuong.vn/9-thang-kim-ngach-xuat-khau-tom-cao-nhat-trong-nhom-thuy-san-352283.html