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Viet Nam's Shrimp Exports Likely to Reach US$2.5B in 2013

Crustaceans Economics +2 more

VIET NAM - Viet Nam expects to earn US$2.5-US$2.6 billion from shrimp exports in 2013, up by 15 per cent from last year, attributable to the stability of the monthly average turnover of US$250 million from shipping this produce, Viet Nam News Agency (VNA) reported.

According to the Viet Nam Association of Seafood Exporters and Processors (VASEP), seafood exports raked in US$4.7 billion in the first nine months of this year, 4.5 per cent more than the same period last year, including US$2 billion contributed by shrimp. reports that the surge results from a hike in the global price of shrimp due to its scarce supply.

In the remaining months of this year, shrimp exports are expected to continue enjoying advantages thanks to positive signals in the United States market as the US Department of Commerce (DoC) recently confirmed that Vietnamese businesses trading with the US do not dump their frozen warm-water shrimp products on the market.

The increase in shrimp exports is also attributed to changes in the global market when some countries are cutting down their export of shrimp due to infectious diseases in this crustacean.

Viet Nam has constrained the diseases, thus ensuring the supply of shrimp to the world and making a high profit.