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Forcast Q2/ 2021, shrimp exports will increase by 20%.

According to the Vietnam Association of Seafood Exporters and Producers(VASEP), since April, shrimps export have shown many positives signs in some major markets. VASEP forecasts that shrimp exports in the second quarter of 2021 will increase by more than 20% over the same period in 2020.

In the first four months of 2021, the covid 19 pandemic still tends to worsen in many parts of the world, including many traditional shrimp export markets of Vietnam. Thanks to the quick grasp of the market by entrepreneurs, shrimp exports are gradually recovering.

Specifically, in the first 4 months of 2021, the total shrimp export value of Vietnam reached 961,9 million USD, up 10,2% over the same period last year.

In April, excluding China and Russia (decreased by 9,4% and 9% respectively), other markets in the top 10 of Vietnam’s shrimp exports all grew positively.

In the markets of the Comprehensive and Progressive Agreement for Trans-pacific Partnership (CPTPP), shrimp exports in the first 4 months of the year reached 297,2 million USD, up 7.6% and accounting for nearly 31% of the total shrimp export value. In April , the largest market, Japan, reached 177,9 million USD, up nearly 6%. Another prominent market is Australia, up 177,4%.

Exports to the US market reached 198 million USD, increased by24,8%, accounting for 20% of the total shrimp. Currently, Vietnam is the fourth largest shrimp supplier of this market, after India, Ecuador,Indonesia. Forecasted that in the next quarter, US shrimp imports will continue to grow.

In the EU market, by the end of April, the total value of Vietnam’s shrimp exports to the EU still reached 145,7 million USD, up 18,5%. Particularly in April, it was nearly 50 million USD, up 45,2%.

In the Chinese market, in the first four months of this year, shrimp exports dropped by 9,8% to 98 million USD.

The top 10 leading shrimp exporters in Vietnam reached 452 million USD, accounting for 47% of the total shrimp exports of the whole country. Minh Phu Group is still the leading enterprise when the export turnover is over 86,8 million USD, accounting for more than 9% of shrimp exports and 3,5% of seafood exports of the country.

With the above statistics and many positive signs in some major markets, VASEP forecasts that soon, shrimp export value may increase by more than 20% over the same period last year.

VFM

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