Vietnam processes more value-added products than Ecuador and India, so Vietnamese shrimp prices have decreased less - Photo: QUANG DINH
The Vietnam Association of Seafood Exporters and Producers (VASEP) has just cited data from the General Department of Customs of China, in the first half of 2024, this market imported more than 367,000 tons of shrimp worth 1.78 billion USD, down 11% in volume and 24% in value.
VASEP leaders said Ecuador and India are two major shrimp suppliers to China, but both saw double-digit declines in shrimp export value to China this year.
"In the past 10 years, in 2024, the amount of shrimp imported into China began to decrease, and shrimp consumption demand showed signs of decline because this market itself has a strategy to boost domestic shrimp production.
In addition, Vietnamese shrimp is expensive and difficult to compete while Chinese people are tightening spending because of the economic slowdown," he explained.
On July 15, speaking with Tuoi Tre Online , Mr. Le Van Quang, Chairman of Minh Phu Seafood Corporation, acknowledged that this year, global shrimp prices have decreased.
"Because China buys a lot of small, cheap shrimp, the export price is low. But if we compare the same size of shrimp with last year, the price of shrimp China buys this year is higher than in 2023.
"When the world shrimp market decreases, the price of Vietnamese shrimp must also decrease. However, Vietnam processes many value-added products that Ecuador and India cannot process, or can process less, so the price of Vietnamese shrimp decreases less," said Mr. Quang.
Meanwhile, according to shrimp exporting enterprises in Nha Trang City (Khanh Hoa Province), in the first 6 months of the year, shrimp exporting enterprises to China had a cumulative increase compared to 2023, but growth gradually decreased from January to April, especially in May.
This business said: "We sold shrimp to China from June to September, which will definitely decrease further. From that, it can be understood that shrimp exported from Vietnam to China will also decrease.
But Vietnamese shrimp has an advantage over Ecuadorian shrimp because it has a bright red color, which is very suitable for Chinese consumers, while Ecuadorian shrimp is only light red because it is raised in earthen ponds."
Vietnam shrimp exports to China may increase
According to the General Administration of Customs of China, in nearly half of 2024, India exported nearly 55,000 tons of shrimp to China; in return, Ecuador exported 267,700 tons of shrimp.
Of which, China imported a lot of headless Ecuadorian shrimp from India at a price of 5.07 USD/kg, down 11%; while whole Ecuadorian shrimp was only 4.5 USD/kg, down 16%.
The price of imported frozen warmwater shrimp into China reached 4.86 USD/kg in the first 5 months of the year. This is the longest period in the past 10 years that the price of imported shrimp into China has been below 5 USD/kg.
In terms of volume, India exported 54,819 tonnes of shrimp to China in the first five months of the year, up 15%;
VASEP predicts that China's shrimp imports will increase again from the third quarter of 2024 to serve the National Day - Mid-Autumn Festival, from September 17 to October 7. Accordingly, Vietnam's shrimp exports to China are likely to increase during this period.
Source: https://tuoitre.vn/an-do-va-ecuador-ban-tom-cho-trung-quoc-gia-re-nhat-10-nam-qua-tom-viet-nam-ban-sao-20240715154237316.htm
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