Vietnam’s shrimp export value was estimated at 3.8 billion USD in 2017, up 22 percent from 2016.
The EU was the top importer of Vietnamese shrimp, totaling more than 780 million USD worth of the country’s shrimp products in the first eleven months of 2017, 22.2 percent of Vietnam’s total shrimp export revenue in the period and an annual increase of 42.4 percent. The Netherlands’ imports grew 70.5 percent, the strongest growth among the three major EU markets for Vietnamese shrimp products, followed by the UK (54.5 percent) and Germany (5.9 percent).
VASEP General Secretary Truong Dinh Hoe attributed the outcomes to preferential treatments offered by the EU to some Vietnamese shrimp products under the Generalised System of Preferences (GSP). Thailand and China do not have this advantage, he said.
Vietnam’s biggest competition in the bloc are India and Ecuador, he noted, adding that Indian shrimp exports to the EU might fall and face a ban due to antibiotics problems. Vietnamese products could be a potential replacement, he said.
According to Hoe, to capitalise on the EU’s preferential import tariff, Vietnamese exporters have chosen domestic materials and invested more in intensive processing for better value added.
Exporters said Vietnamese shrimp’s big win in the EU last year came from consumers’ preference for convenient seafood products and higher demand during the year-end holiday season. Sources of cold-water shrimps saw higher prices and dwindling supply, increasing the bloc’s demand for Vietnamese imports.
The VASEP said the EU-Vietnam Free Trade Agreement, expected to take effect this year, will boost Vietnamese shrimp shipments to the bloc thanks to tariff elimination for a number of products, which are currently taxed at 20 percent.
Earnings of Vietnamese shrimps exported to China grew 60.2 percent to reach 637.9 million USD between January and November 2017.
China has witnessed a reduction of domestic shrimp sources due to poor weather and diseases, while demand is rising thanks to the expansion of the middle-income group and tourist arrivals. From December 1, 2017, the country’s tariff on frozen shrimp imports fell to 2 percent from 5 percent.
China is forecast to surpass Japan to become the second biggest importer of Vietnamese shrimps in the first quarter of 2018.
VN FILES COMPLAINT TO WTO ABOUT US ANTI-DUMPING DUTY ON FISH
Vietnam has filed a complaint with the World Trade Organization over anti-dumping measures the United States has imposed on Vietnam’s exports of fish fillets, according to announcements from Vietnam’s Ministry of Industry and Trade and the WTO.
VIETNAM SHRIMP SALES TO GO ON THE RISE IN QIV
After a reduction in the first quarter, Vietnam’s shrimp exports in QII and QIII/2017 showed the possitive growth. Of that, exports in QII increased by 52% over QI, exports in QIII increased by 25% over QII and 90% over QI. Vietnam’s shrimp exports in the first nine months of the year reached US$2.7 billion; up 21.4% over the same period in 2016.
VIETNAM PANGASIUS SALES TO BRAZIL JUMPED
As of 15th Oct 2017, Vietnam’s pangasius exports to Brazil totaled US$79.6 million, up 66.2% over the same period last year. This is considered as one of the potential importing markets of Vietnam with the good growth. In particular, in September 2017, exports to the market hit US$6.73 million, up 103.3% over the same period last year. Sales to the market reached the highest growth in the first three quarters of this year.