Whiteleg shrimp continues to make up most of Vietnam’s exported shrimp products (Photo: VNA) Hanoi (VNA) - Vietnam’s shrimpexports are expected to increase to more than 4 billion USD in 2019 thanks tofree trade agreements, said the Vietnam Association of Seafood Exporters andProducers (VASEP).
VASEP said the shrimp sector would make a breakthroughin exporting to 28 European Union countries as the nation will enjoy low importtariffs once the EU-Vietnam Free Trade Agreement takes effect for an estimatedexport value of 1 billion USD.
According to VASEP, 2018 ended with shrimpexports failing to meet the business targets. They reached 3.55 billion USD,down 7.8 percent from the previous year.
The shrimp industrytargeted to gain an export value of 4.8 billion USD in 2018 due to the manyadvantages of exports promotion. These advantages from existing mechanism andpolicies include a programme on sustainable development of the fisherieseconomy during 2016-2020.
However, shrimp demand of large markets such as the US and Canadadecreased due to weather and high inventory volume in Japan, the Republic of Koreaand the EU. Domestic prices in the second quarter fell by between 20 and 30 percent, affecting the local market and export value.
At the end of last year, world shrimp pricesfell. The supply from shrimp-producing countries such as India, Thailand andIndonesia increased, while inventory in the US was high, meaning Vietnam couldnot boost exports to this market.
Inventories in India, Ecuador and Indonesia alsoincreased after China tightened the export of shrimp via informal cross-bordergates.
In 2018, Vietnam’s shrimp exports to its fourmain markets declined from the previous year. The value of exports to Chinadropped by 28 percent; Japan fell by 9.2 percent. Exports to the EU and the USwere down by 2.8 percent and 3.3 percent, respectively. The exports to theRepublic of Korea and Canada saw slight increases of 1 percent and 3.5 percent,respectively.
The EU was still the largest market for exportedVietnamese shrimp, accounting for 23.6 percent of exports with a value of 838.3million USD.
White-leg shrimp continued to occupy a keyposition in the market, accounting for 68.7 percent of shrimp exports, whiletiger shrimp accounted for 23 percent and other types of shrimp 8.3percent.-VNA
VASEP said the shrimp sector would make a breakthroughin exporting to 28 European Union countries as the nation will enjoy low importtariffs once the EU-Vietnam Free Trade Agreement takes effect for an estimatedexport value of 1 billion USD.
According to VASEP, 2018 ended with shrimpexports failing to meet the business targets. They reached 3.55 billion USD,down 7.8 percent from the previous year.
The shrimp industrytargeted to gain an export value of 4.8 billion USD in 2018 due to the manyadvantages of exports promotion. These advantages from existing mechanism andpolicies include a programme on sustainable development of the fisherieseconomy during 2016-2020.
However, shrimp demand of large markets such as the US and Canadadecreased due to weather and high inventory volume in Japan, the Republic of Koreaand the EU. Domestic prices in the second quarter fell by between 20 and 30 percent, affecting the local market and export value.
At the end of last year, world shrimp pricesfell. The supply from shrimp-producing countries such as India, Thailand andIndonesia increased, while inventory in the US was high, meaning Vietnam couldnot boost exports to this market.
Inventories in India, Ecuador and Indonesia alsoincreased after China tightened the export of shrimp via informal cross-bordergates.
In 2018, Vietnam’s shrimp exports to its fourmain markets declined from the previous year. The value of exports to Chinadropped by 28 percent; Japan fell by 9.2 percent. Exports to the EU and the USwere down by 2.8 percent and 3.3 percent, respectively. The exports to theRepublic of Korea and Canada saw slight increases of 1 percent and 3.5 percent,respectively.
The EU was still the largest market for exportedVietnamese shrimp, accounting for 23.6 percent of exports with a value of 838.3million USD.
White-leg shrimp continued to occupy a keyposition in the market, accounting for 68.7 percent of shrimp exports, whiletiger shrimp accounted for 23 percent and other types of shrimp 8.3percent.-VNA
VNA
