According to the Vietnam Association of Seafood Exporters and Producers (VASEP), though shrimp export in the first four months grew by 13.8 percent annually to over USD1 billion, the April figure dropped by 0.4 percent year-on-year, reaching over USD275 million.Last year, while shrimp export to countries surged, it fell by 8 percent from 2016 in the US market, partly due to high anti-dumping tax.In early March, the US Department of Commerce (DOC) announced preliminary results of anti-dumping tax on Vietnamese shrimp during the 12th period of review from February 1st, 2016 to January 31st, 2017, amounting to 25.39 percent, much higher than the previous reviews.Though lawyers discovered DOC’s miscalculations and preliminary results only serve as a reference, the ruling worried both sellers and buyers.Source: VNAIn April 2018, shrimp was added to the SIMP by the National Oceanic and Atmospheric Administration. Accordingly, shrimp importers must fully abide by SIMP’s … [Read more...] about Measures sought to facilitate Vietnam’s shrimp export to US
Shrimp export
EU tops market for Vietnam’s shrimp exports
In the first quarter, the export value of shrimp from Vietnam to the EU gained a year-on-year increase of 20.2 percent to 742.9 million USD, including 302.4 million USD in March, up 25.8 percent compared to March 2017. Therefore, the EU maintained its position as the largest market for Vietnamese shrimp products, accounting for 18.2 percent of Vietnam’s total shrimp export value in the first quarter. Shrimps for exports The association said the EU was considered as the "most dynamic" market for Vietnamese shrimp in 2017. In 2018, the shrimp export to this market has maintained an upward trend. Vietnam has gained by exporting shrimp to the EU, because India, Vietnam’s big competitor in the EU market, has faced difficulties in exporting shrimp to the EU market as a result of antibiotic residue testing. India has also faced the risk of banning shrimp exports to the EU, reported Cong Thuong newspaper. In addition, Vietnamese shrimp is more affordable than its … [Read more...] about EU tops market for Vietnam’s shrimp exports
Vietnam’s shrimp export goal faces imminent failure as farmers close ponds
Vietnam’s goal of exporting $10 billion worth of shrimp in 2025 is facing a grim future as farmers are closing ponds after consecutive losses, local newspaper Tuoi Tre reported on Tuesday. Vo Thanh Sang, a shrimp farmer in the southern Soc Trang Province, said he has just sold his shrimp for VND70,000 ($3) per kilogram, while remarking that the price is at its lowest in 10 years. “Each pond has about 4 to 5 tons of shrimp in it. So if I sell my shrimp at the current price, I would lose about VND40 to 50 million. I cannot afford that,” Sang said. His ponds would be closed soon, he said. Record low shrimp prices are the result of global shrimp oversupply, said Vo Van Phuc, director of a Vietnamese food company. And despite the low prices, Vietnamese factories are not buying shrimp because of low demand globally. “Even though shrimp prices are already low, foreign markets like the U.S. are expecting the prices to drop even further,” Phuc said. Truong … [Read more...] about Vietnam’s shrimp export goal faces imminent failure as farmers close ponds
Vietnam to gain 4.8 billion USD from shrimp exports
Vietnam expects to earn 4.8 billion USD from shrimp export in 2018 (Source: VNA) Hanoi (VNA) - Vietnam’s shrimp industry is expected to gain an export value of 4.8 billion USD in 2018 due to the many advantages of export promotion, experts said. These advantages from existing mechanism and policies include a programme on sustainable development of the fisheries economy during 2016-20. Under the programme, the shrimp industry will actively produce varieties of black tiger shrimp and white leg shrimp to meet the demand of market demand. Meanwhile, the Ministry of Agriculture and Rural Development as well as other State management agencies have removed many obstacles in export procedures to create favourable conditions for export enterprises. The shrimp sector now has many favourable conditions with the Government’s higher attention, including opening of material production centres and solutions on supplying raw material, according to a representative of Minh Phu Seafood … [Read more...] about Vietnam to gain 4.8 billion USD from shrimp exports
VN to gain $4.8b from shrimp exports
Việt Nam’s shrimp industry is expected to gain an export value of US$4.8 billion in 2018 due to the many advantages of exports promotion, experts said.– VNA/VNS Photo HÀ NỘI – Việt Nam’s shrimp industry is expected to gain an export value of US$4.8 billion in 2018 due to the many advantages of exports promotion, experts said. These advantages from existing mechanism and policies include a programme on sustainable development of the fisheries economy during 2016-20. Under the programme, the shrimp industry will actively produce varieties of black tiger shrimp and white leg shrimp to meet the demand of market demand. Meanwhile, the Ministry of Agriculture and Rural Development as well as other State management agencies have removed many obstacles in export procedures to create favourable conditions for export enterprises. The shrimp sector now has many favourable conditions with the Government’s higher attention, … [Read more...] about VN to gain $4.8b from shrimp exports