The Japanese tempura market is very important and has spread worldwide thanks to the strong demand of Japanese food
Shrimp exports expected to improve in H2
Thursday, September 19, 2019, 06:00 (GMT + 9)
Vietnam shrimp exports in the first six months of 2019 reached USD1.4 billion, down 12% compared to the same period of 2018.
During this period raw material shrimp price decreased, export prices did not increase, import demand went down from the main markets and there was a fierce competition from India and Ecuador. These were the main factors that prevent Vietnam from increasing shrimp exports, according Vietnam Association of Seafood Exporters and Producers (VASEP).
Shrimp tempura processing line (Photo: Stockfile)
In the first half of 2019, in the structure of shrimp products exports, whiteleg shrimp accounted for 66.8%, black tiger shrimp accounted for 22.6% and the rest were marine shrimp.
Export of white leg shrimp (vannamei) reached nearly USD963 million, down 12% compared to the same period last year.
Export of black tiger shrimp hit nearly USD325 million, down 16%.
Export of other marine shrimp touched nearly USD153 million, up 2%, while export of processed black tiger shrimp dropped the most by 36%.
Vietnamese tempura shrimp commercialized in UK by Iceland frozen stores (Photo: ICELAND)
In June 2019, Vietnamese shrimp exports reached USD293.5 million, down 4.8% year on year. In the top five main shrimp importers from Vietnam, exports to Japan, the US and China have shown signs of growth, yet exports to the EU and South Korea still reported a two-digit drop. For the other markets, exports to Australia and Taiwan increased while exports to Canada, ASEAN and Switzerland fell.
In the first six months of this year, exports to the top five main importers all fell while exports to Japan, the US and China decreased less thanks to good growth in June.
Vietnam shrimp exports in the coming months are expected to inch up thanks to the effects of the Vietnam-EU Trade Agreement (EVFTA), the US-China trade war, the high demand for imports from other markets in the second half and reduced competition from India.