VASEP said that in the first seven months of 2014, Vietnam’s shrimp exports to the ROK increased by 55% in volume and doubled in value compared with the same period of 2013, while China’s shipments declined by 40% in volume and 22% in terms of value.
According to the association, shrimp supplies in the world market have been strongly affected by early mortality syndrome (EMS).
It is estimated that shrimp output by Thailand in 2014, the world’s largest shrimp producer, will fall to about one third of its output in previous years and EMS is also making China lose its share in many major markets.
The ROK is currently the fifth-largest market for Vietnamese shrimp after the US, Japan, the EU and China, accounting for 7.9% of Vietnam’s total shrimp exports.
As of August 15, Vietnam’s shrimp shipments to the ROK rose by more than 114% to reach US$185 million.
Along with Ecuador, Indonesia and India, Vietnam is becoming an important shrimp supplier for the world.
According to the General Department of Customs, Vietnam’s shrimp exports as of August 15 to the US and the EU reached US$694 million and US$387 million, respectively.
