According to statistics from Vasep, shrimp exports of Vietnam in January 10/2024 reached 394 million, recorded a growth of 24% compared to 10 years ago. Total shrimp exports in the first 10 months of the year reached $ 3.2 billion, a 13% increase compared to the year 2023. In particular, the main market has strong growth in January 10, reflecting the strong recovery of demand.

A highlight is shrimp exports to China and Hong Kong, with a total value of $ 91 million in year 10, an increase of 44% compared with last year. Total shrimp exports to this market in the first 10 months of the year reached 676 million, an increase of 31%. Lobster is the items that the boom in demand, reaching a record growth of 157%, equivalent to 298 million. The consumer policy of China has contributed to create opportunities for Vietnamese businesses.

In the U.s. market, shrimp exports in January 10 reaches more than 80 million USD, an increase of 17% compared to the same period. From the beginning of the year, total exports of shrimp to the U.s. was 646 million, up 10%. Due to the three countries exporting shrimp main difficulty in production, the U.s. is now faced with the shortage of imported shrimp. Forecasting demand for imported shrimp of America will continue to increase in the coming time, along with trend shrimp prices increase.

At the other Asian markets, Japan and south Korea also saw the growth of shrimp exports to Vietnam in January 10, in turn, is 18% and 28%. In Europe, shrimp exports increased by 32% in year 10, with the total exports in the first 10 months of the year reached 408 million, an increase of 17% compared with the previous year. Steady demand from the EU has created the conditions for continuous growth from month 4 to date.

Data export in the first 10 months of the year showed optimistic outlook in the adult market. Demand from the U.s. and the EU remained stable, while China can continue to be a potential market thanks to the consumer policy. Shrimp prices, especially white-leg shrimp tends to increase, to help businesses improve profit margins. Market shrimp processing are also thriving, with the turn to products with high added value. The goal shrimp exports in the year 2024 to reach $ 4 billion workable.

(*) Source of reference information: The Shrimp