From January to September 2014, South Korea imported 44,418 MT of shrimp, with the value of $407.4 million, up 6.4 per cent in volume and 44.5 per cent in value, reports VASEP.
As imports from China plummeted and imports from Thailand fell sharply at 39 per cent, Viet Nam became the largest shrimp supplier for South Korea.
Viet Nam increased its market share from 33 per cent last year to 44 per cent.
Early mortality syndrome (EMS) was the main cause for the decline in shrimp imports from China and Thailand. This became an opportunity for other sources such as Viet Nam, India and Indonesia to boost exports to Korea.
Shrimp imports from Indonesia to Korea were reported up 311.7 per cent in the first nine months of this year.
Accounting for 7.9 per cent of total shrimp exports from Viet Nam, South Korea is ranked fifth in the top list of biggest shrimp markets for Viet Nam, after the US, Japan, EU and China.
Shrimp exports from Viet Nam to South Korea in the first nine months of 2014 upped 84.8 per cent year on year. This growth rate is only lower than exports to EU.
Until the end of September 2014, whiteleg shrimp exports to Korea, up 106 per cent year on year, were double those of black tiger shrimp.