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Vietnamese Shrimp Exports Up in May

Crustaceans Economics +2 more

VIET NAM - Vietnam shrimp exports in May 2015 reached US$242.7 million, up 9 per cent compared to the previous month.

However, this value was still down 29.6 per cent compared with May 2014, reports VASEP.

Shrimp exports in the first 5 months received $1 billion, down 29.4 per cent from the same period in 2014.

Recovered global shrimp production and lower demand in the end markets including the US, EU, Japan and China led to a decreasing shrimp price which caused the Viet Nam shrimp export reduction.

In the first five months of the year, whiteleg shrimp (vannamei) sales reached $579.7 million, representing 57.5 per cent of total exports of shrimp from Viet Nam, while black tiger shrimp exports reached $346.8 million, accounting for 33.3 per cent.

Shrimp exporting to the US achieved $212.2 million, down 52 per cent over the last year.

The US shrimp demand has been quiet since January 2015. Besides, inventories in the US remained high.

Exports to the EU reached $192.4 million, down 13.8 per cent from the same period last year. The European economy is still not completely out of the recession which caused its demand for shrimp imports drop. The euro weakened against the dollar, which also reduced shrimp imports into the EU. This trend may persist in the coming months.

Global shrimp production increased from 3.4 million tonnes to 3.6 million tonnes in 2014, of which Asian producers account for around 3 million tonnes. World shrimp production continued to rise this year, as these countries have kept control of early mortality syndrome.