As shrimp supply from the main producers in the world is still large so the world price of shrimp is almost remained, even in some countries shrimp is sold at low price. The competition has impacted the shrimp export market. As a result, Vietnamese shrimp is also influenced by major consuming markets such as the US, EU, Japan and China. Meanwhile, trade barriers and measures to protect the domestic market from major import markets have also affected the shrimp export situation of Vietnam in recent years.
In addition, the US dollar increased sharply than some other currencies, causing the importers are forced to reduce the price of shrimp. Shrimp prices have recently tended to inch up but not enough to offset the impact of the US dollar rise.
White leg shrimp remains dominant in the structure of shrimp export products of Vietnam, accounting for 68.4%, black tiger shrimp is 23.1% and marine shrimp is 8.5%. Compared with the first nine months of 2017, the proportion of white shrimp increased while the proportion of black tiger shrimp decreased.
In the first nine months of 2018, the value of white leg shrimp exports increased by 1%, while that of black tiger shrimp decreased by 7% and marine shrimp fell by 28% compared to the same period last year.
For white leg shrimp, the value of processed white leg shrimp (HS 16) increased by 10% while white / live / frozen white leg shrimp (HS 03) decreased by 5%. For black tiger shrimp, the value of processed black tiger shrimp (HS 16) decreased by 19% and that of live / fresh / frozen black tiger shrimp (HS 03) decreased by 6%.
EU is Vietnam's largest shrimp importer, accounting for 24.7% of Vietnam's total shrimp exports. In the first two quarters of this year, Vietnam shrimp export to EU increased sharply in the context of shrimp export to big markets such as the US, China and Japan decreased continuously. However, in the third quarter of this year, shrimp export to this market began to decline. Thanks to good growth in the first two quarters of this year, Vietnam shrimp exports to this market reached US $ 648.4 million in September, an increase of 11% over the same period in 2017.
The UK, the Netherlands and Germany are the three largest shrimp importers of Vietnam in the EU block. In the first nine months of this year, shrimp exports to all three markets showed positive growth of 27.6%, 11.6% and 19.4% respectively over the same period last year.
Vietnamese shrimp still maintains competitive advantages over other competitors such as India and Thailand. These two rivals of Vietnam are increasingly reducing exports to the EU due to problems with meeting quality standards.
In Europe, the demand for convenience food is increasing due to busy life and time pressure. Consumers prefer to quick and easy meals. Easy-to-cook meals should also be affordable. If businesses provide PUD shrimp products, marinated shrimp at an affordable price, companies will have many opportunities in this market in the coming time.
The US is Vietnam's third largest shrimp importer, accounting for 18% of Vietnam's shrimp export value. After a continuous decline in shrimp exporting to the US from April to July this year, Vietnamese shrimp exports to this market have recovered positive growth in August and September this year. Export of shrimp to the US in the first nine months of this year reached US $ 472.4 million, down 3% over the same period in 2017.
The final result of the anti-dumping duty on Vietnamese shrimp during the 12th administrative review period - POR12 (from 1 February 2016 to 31 January 2017) has been reduced to 4.58%. This positive result will help Vietnamese shrimp farmers firmly boost sales to the US market in the coming time, especially when the holiday time is coming. Currently, the US is one of the major markets of Vietnam shrimp with turnover of over US $ 600 million per year. As a result, the reduction of anti-dumping tax is a favorable condition for Vietnamese shrimp to increase its competitiveness in this market.
In addition, the US-China trade war is also an opportunity for shrimp exporting companies of Vietnam to promote export to this market because the US imposed high tariffs on Chinese goods.
Market demand is showing signs of good movement. If Vietnam's shrimp export price and world shrimp price are improved in the coming time, Vietnam's shrimp export in the last quarter of this year will achieve positive growth, bringing the total shrimp export turnover this year over the threshold of US $ 3.85 billion of last year.
Huong Tra (source: vasep.com.vn)