By November 2020, Vietnam brought in $3.4 billion from exporting shrimps, up 11.3% as compared to the same period last year. The shrimp exports in 2020 are expected to reach $3.78 billion, up 12.4% from last year.
As for production, the shrimp stocking area is estimated to reach 725,900 ha (equal to 99.43% of the 2020 plan), with black tiger shrimp farming reaching 616,807 ha (equal to 99.48% of the 2020 plan), white leg shrimp farming area reaching 109.093 ha (equal to 95.24% of the 2020 plan). The output of black tiger shrimp reached 254,382 tons (equal to 90.2% ò the 2020 plan) and white leg shrimp reached 536,182 tons (equal to 96.17% of the 2020 plan). Prices of shrimp material in the Mekong Delta continue to stay high as compared to the first few months of the year and slightly rise because supply slightly falls and factories adjust their purchasing prices to fulfill orders of the last months of the year.
Steady sales of Vietnamese shrimps are recorded in the US and smaller markets such as the UK, Canada and Australia. Exports to China, EU, and Korea are recorded positive in the first eleven months of the year, and yet there are some months with drop. Vietnam’s exporting companies have searched, diversified markets, taken use of opportunities from changes of the market after the COVID-19 pandemic, and diversified products to suit different market segments.
As of November this year, exported white leg shrimp accounted for 72.5% of the shrimp export volume (from 70.1% of the same period last year), and black tiger shrimp accounted for 15.5% (from 20.4% of the same period last year), and marine shrimps made the rest. This year, the density of white leg shrimp increased while that of black tiger shrimp decreased. By the end of November this year, exports of white leg shrimp have reached $2.5 billion, up 5.7% while exports of black tiger shrimp reached $532.6 million, down 22.5% as compared to the same period last year. Processed white leg shrimp products and black tiger shrimp increased by 14% and 24% respectively, while a decrease was recorded in white leg shrimp products and live/fresh/frozen black tiger shrimp.
The US: the US is the leading importer of Vietnamese shrimps, accounting for 23.5%. Exports of Vietnamese shrimps to this market in Nov 2020 increased by 37% as compared to the same period last year. As of Nov 2020, shrimp exports to this market reached $806.6 million, up 34% as compared to the same period last year. Even though the US has been the hotbed of the COVID-19 pandemic, positive growth was recorded in sales of Vietnamese shrimps to this country in every single month of the first eleven months of 2020.
The US is considered the most stable destination of Vietnamese shrimp in the first eleven months. Despite a decrease in demand for food and services, the US has been in need of importing shrimps to serve the retail market.
The EU: the EU is the fourth biggest importer of Vietnamese shrimps after the US, Japan and China, accounting for 13.7% of total Vietnam’s shrimp export value. After slump in previous months, sales of Vietnamese shrimps to the EU started to grow from quarter III at the entry into force of the EVFTA in Aug 2020. However, it fell in Nov 2020. That was partly driven by the second overwhelming surge of COVID-19 pandemic in the region.
In Nov 2020, Vietnam brought in $35.7 million from exporting shrimps to the EU, down 10.2% as compared to the same period last year, leaving the accumulated value of shrimp exports to this market of $472.3 million and an increase up to 5.2%.
China: After a double-digit growth in September and October, exports of Vietnamese shrimps to this country displayed a 21% decrease, valued at $42.8 million. As of November this year, Vietnam brought in $496.8 million from exporting shrimps to China, up 0.8% as compared to the same period last year. Reduced demand for shrimps in the domestic market of China, growing supply of local shrimps, and concerns about coronavirus related imported seafood products have impacted on China’s shrimp imports and it can not recover in the next few months.