Shrimp exports reach US$ 2.25 billion

The Vietnam Association of Seafood Exporters and Producers has estimated Vietnam’s 2012 shrimp exports at US$2.25 billion, down 6.3 percent from 2011.

The Vietnam Association of Seafood Exporters and Producers (VASEP)  has estimated Vietnam’s 2012 shrimp exports at US$2.25 billion, down 6.3 percent from 2011.

In the first 11 months of 2012, Vietnam’s shrimp exports totaled US$2.06 billion, a year-on-year decrease of 4.7 percent.

Half of the top 10 import markets suffered significant declines, including the US (15.6 percent), the EU (25 percent), Canada (14 percent), ASEAN (22 percent), and Switzerland (11 percent).

VASEP attributed the falling export value to unstable shrimp supply caused by diseases, as well as 15–25 percent increases in input costs.

In the first five months of this year shrimp exports to Japan grew strongly, but the boom was stymied—reducing by 1.5 to 17 percent—when the country began examining all Vietnamese shrimp entering the market.

Shrimp exports to the EU were affected by the region’s economic downturn, while sales to the US market suffered from oversupply and underwhelming demand. Exports to the US are unlikely to recover in the near future, as reserves remain high.