Vietnam sees high shrimp export growth to US and Japan in Q1
Vietnam gained shrimp export growth to some key export markets in the first quarter of this year, especially Japan and the US, despite the COVID-19 pandemic.
Hanoi (VNS/VNA) - Vietnam gained shrimp export growth to some keyexport markets in the first quarter of this year, especially Japan and the US,despite the COVID-19 pandemic.
Japan jumped to first place in the five largest export markets, accounting for21 percent of Vietnam’s total shrimp export value after the export value tothis market in February surged sharply by 63 percent year-on-year, according tothe Vietnam Association of Seafood Exporters and Producers (VASEP).
During this period, Vietnam earned 132 million USD from shrimp exports toJapan, 8.4 percent higher than the same period of last year.
Meanwhile, the US became the second largest export market for Vietnamese shrimpin the first quarter because of higher demand for essential food, includingshrimp, during the COVID-19 pandemic, the association reported.
In the first three months Vietnam's shrimp export value to the US marketreached 115.5 million USD, a surge of 18.2 percent year-on-year. This was thehighest growth rate among the top five export markets for Vietnamese shrimpduring the first quarter.
In March alone, the shrimp export value to this market increased by 11.5 percentto 41.3 million USD year on year.
However, in the same month, shrimp export to many other major export marketsdecreased in value against the same period of last year, including the EU (16 percent),the Republic of Korea (6.3 percent) and China (6.4 percent).
It is reported that Vietnam’s total shrimp export value in the first three monthsrose by 1.8 percent year-on-year to 628.6 million USD.
Although it is still unclear when the pandemic ends, there is high demand forshrimp on the domestic and global markets because it is one essential food,according to the association. Therefore, Vietnam needs to ensure shrimp supplyfor the home and abroad markets now and in the future.
Shrimp output in many key producers in the world such as India and Ecuador isestimated to reduce due to disease of shrimp and bad weather while the shrimpdemand on the global market is forecast to increase sharply after the pandemic./.
The EU is a potential market for Vietnam's shrimp industry next year because it is the largest shrimp market in the world, while the shrimp production of this bloc has not met its demand, according to domestic seafood experts.
Shrimp exports to Australia increased strongly in 2019, expanding at a two-digit growth rate, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).
The domestic shrimp industry has not faced a great impact from the novel coronavirus-caused acute respiratory disease (COVID-19) because now this industry is under production and Vietnam will enter its shrimp harvesting crop in August.
Vietnam’s shrimp industry has found itself surrounded by difficulties since the beginning of this year due to COVID-19 but many exporters are now looking forward to a comeback in the second half after the pandemic is brought under control globally.
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Processing shrimp for exports (Photo: VNA) 
