Why are shrimp exports to China growing 'steeply'?
According to the Vietnam Association of Seafood Exporters and Producers (VASEP), the first 2 months of this year recorded very high growth in shrimp exports to the Chinese market in the seafood industry.
Statistics from businesses, shrimp exports to China and Hong Kong reached 81 million USD, an increase of 143% over the same period in 2023. Of which, lobster export value reached nearly 29 million USD, an increase of 27 times compared to the same period in 2023. In addition, white shrimp exports recorded a growth of 18%, black tiger shrimp increased by 8%.
Sharing with Thanh Nien, an expert on the shrimp market from VASEP said that normally shrimp exports to China increase sharply in January because it coincides with the Lunar New Year, and China's import demand is very large. But this year, the Lunar New Year is in February and the import-export businesses of the two countries have nearly a week of Tet holiday, but the value of shrimp exports to China still maintains high growth momentum.
Sharing with Thanh Nien, an expert on the shrimp market from VASEP said that normally shrimp exports to China increase sharply in January because it coincides with the Lunar New Year, and China's import demand is very large. But this year, the Lunar New Year is in February and the import-export businesses of the two countries have nearly a week of Tet holiday, but the value of shrimp exports to China still maintains high growth momentum.
For the Chinese market, Ecuador is a shrimp supplier with a very large market share but mainly shrimp in the form of raw materials. Meanwhile, Vietnamese shrimp products are very diverse, with the strength being processed products and Chinese consumers will have many choices.
In addition, tensions from the Red Sea have pushed up ocean freight rates, making it difficult for Ecuadorian businesses to send goods to China. Vietnamese businesses also see difficulties when exporting shrimp to distant markets such as the EU, US... and are having many solutions to focus on exploiting advantages and promoting shrimp exports to China.
The VASEP expert also commented that another extremely optimistic signal for the shrimp export industry to China is that Vietnamese shrimp products are currently priced higher than their competitors.
This reflects that the Chinese market has a higher awareness and evaluation of the quality of Vietnamese shrimp than products from other countries. Chinese businesses accept to buy high-priced shrimp from Vietnam and continuously increase imported output.
The Chinese market always has very high demand for Vietnamese shrimp products, especially processed products. The evidence is that in 2023, China will import nearly 1 million tons of Vietnamese shrimp. If the Shrimp export enterprises focus on advertising and trade promotion activities, promoting the export of deeply processed, high-value products, and shrimp exports to China will grow strongly this year, according to experts of VASEP.
Cre: THANH NIÊN
Ngày đăng : 11/05/2024
1428 View
Other Articles
Indian shrimp pivot to the EU, increasing competitive pressure on Vietnam
Indoor shrimp farming in Europe: Investment challenges and the race to find a viable model
Shrimp production surged in the first month of the year, with exports benefiting from strong demand during the Lunar New Year holiday
Quang Ninh Accelerates Digital Transformation in Shrimp Farming, Rising to Lead Northern Vietnam
Lucky money is not just about cash — it’s Aqua Mina’s wish for a worry-free farming season for our valued customers
Việt Nam's top 10 seafood exporters command nearly one-fifth of industry revenue
Ca Mau Maintains Its Shrimp Brand in International Competition
VIETSHRIMP ASIA 2026 & AQUACULTURE VIETNAM 2026 – A TURNING POINT FOR THE MODERN SHRIMP FARMING INDUSTRY
Ecuador's shrimp industry educational program SustainED kicked off its 2026
An Giang will start raising brackish water shrimp as early as the beginning of 2026
Aqua Mina conducts the on-site installation of two aquaculture air blowers | Ceramic Ball Bearing – 15 kW – 25 kPa for a customer in Quang Ninh
Towards Building Brand Value for the Shrimp Industry
.jpg)