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Opportunities Seen for Viet Nam Shrimp Exports to US

Crustaceans Sustainability Economics +5 more

VIET NAM - Data from General Customs shows that in the first 4 months of 2015, Viet Nam earned $164 million from shrimp exports, and the markets are showing positive signs, according to the Viet Nam Association of Seafood Exporters and Producers (VASEP).

On 3 March 2015, US Department of Commerce (DOC) announced preliminary results of of the ninth anti-dumping duty administrative reviews on certain frozen shrimp imported from Viet Nam.

The period of review (POR) is 1 February 2013 through 31 January 2014. The average tax rate would be 0.93 per cent, from 6.37 per cent of POR8. If these preliminary results are retained in the final results, the condition for Viet Nam shrimp exports to the US would be better.

A strong dollar resulted in higher purchasing power, so the US increased shrimp imports. Viet Nam was the fastest growing supplier of breaded shrimp to this market.

In the first quarter of the year, over 135,000 MT of shrimp was imported into the US, reaching the value of $1.4 billion. Frozen breaded shrimp imports increased by 11 per cent to reach 11,737 MT in volume and $94.7 million in value.

Imports from Viet Nam reported a surge of 50 per cent to 1,491 MT. In terms of vaue, it is 42 per cent increase to $11.9 million. Meanwhile, imports from China down 10 per cent to $45.6 million. Imports from Thailand, on the other hand, remained stable with $22.1 million.

Besides, imports of frozen shelled shrimp into the US grew to 54,984 MT, reporting the value of $551.4 million, up 17 per cent in volume and five per cent in value.

Frozen warm water shrimp imports reached 47,215 MT with the value of $501 million in the first quarter, down nine per cent in volume and 26 per cent in value over the same period last year.