Accordingly, shrimp exports in July reached 375 million USD, up 17% over the same period last year.
Shrimp exports in July recorded the highest value since the beginning of the year. It was also the month in which Vietnam's shrimp exports recorded the best growth since February this year. In the first 7 months of this year, total shrimp export turnover reached about 2 billion USD.
In terms of markets, shrimp exports recorded growth in July in most major consumption markets such as the US, China, and the EU.
Markets such as Japan and the Republic of Korea still recorded a decrease or only a slight increase in previous months, however they recorded double-digit growth rates in July.
For the US market, Vietnam's shrimp exports to the US increased by 16%, reaching 89 million USD in July. In the first 7 months of the year, shrimp exports to this US market reached 391 million USD, up 4% over the same period last year.
In the Chinese and Hong Kong (China) markets, Vietnam's shrimp exports tended to recover in July with double-digit growth over the same period last year. In the first 7 months of the year, shrimp exports to these markets reached 399 million USD, up 18% over the same period in 2023.
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Shrimp processing for export. |
Vietnam’s shrimp exports to China increased again thanks to increased import demand from this market. In addition, Vietnam’s main competitor in the Chinese market, Ecuador, is facing strict quality control from China, making it difficult for Ecuador to export shrimp to China.
VASEP noted that exporting enterprises continue to face difficulties such as increased shipping costs and risks of conflicts in the world.
Shrimp farming activities in September will also be affected by heavy rains, leading to the possibility that from now until the end of the year, our commercial shrimp volume will not be very large.
However, enterprises have also had their own strategies such as taking advantage of signing contracts for the whole year and increasing raw material reserves.
It is expected that in the last months of the year, the world economy and major import markets will have better signals so that the shrimp industry can achieve the set goals for 2024.
