According to the Association of Seafood Exporters and Producers (VASEP) in October, shrimp exports to China increased by 50% over the same period in 2021, to $65 million. This increase helps China surpass the US, becoming Vietnam’s largest shrimp import market in October.
In October, Vietnam’s shrimp exports to China recorded the highest growth rate in the top 5 main shrimp import markets of Vietnam.
Accumulated in the first 10 months of the year, shrimp exports to China reached 547 million USD, up 60% over the same period in 2021.
VASEP reported that over the past time, China’s domestic shrimp production has decreased due to adverse weather and shrimp diseases in some main shrimp production areas. Therefore, the country must increase shrimp imports to serve the Mid-Autumn Festival, National Day, and Lunar New Year.
(The source: VASEP)
However, VASEP also forecasts that China’s shrimp imports in November and December will continue to decline compared to previous months due to a seasonal decline in demand after stockpiling for the Lunar New Year. The country’s shrimp import demand is expected to increase sharply after the Lunar New Year in China.
Recently, Chinese President Xi Jinping sent a message that he will not relax the Zero-COVID policy immediately.
But since July this year, China has removed the policy of suspending the import of frozen food contaminated with Sars-COV-2 virus after nearly two years of implementation. VASEP considers this to be positive news for shrimp suppliers to China, including Vietnam.
China Customs data shows that China’s shrimp import turnover in October reached about 524 million USD, of which Ecuadorian shrimp accounted for 60% of the market share, India accounted for 13% and Vietnam accounted for 12.5%.. .
Accumulated in the first 10 months of the year, China’s shrimp import turnover increased by 65% over the same period in 2021, to US$4.5 billion, of which Vietnamese shrimp accounted for 12% of the market share.
