Shrimp imports into the US increased slightly in the first 8 months of this year

Among the top 6 largest shrimp suppliers to the US, in the first 8 months of 2019, in volume, imports from India increased by 13%, imports from Vietnam increased by 10%, imports from Ecuador increased by 10%. Imports from the remaining supply decreased such as Indonesia decreased by 3%, Thailand decreased by 10% and China plunged the most by 53% compared to the same period last year.

The growth of shrimp imports into the US from India in the first 8 months of this year has slowed down compared to the first months of this year due to Indian shrimp production this year has encountered difficulties due to diseases and reduced shrimp prices, resulting in reduced output.

Shrimp imports into the US from Ecuador increased, in contrast to the downtrend of the first 6 months of this year and 2018. 5 large Ecuadorian shrimp companies were temporarily banned from exporting to China, so Ecuador increased supply to major markets. Other like USA, EU.

Shrimp imports into the US from Thailand have maintained a downward trend since 2018. Up to now, Thailand shrimp exports to the US have not been able to recover positive growth momentum. On October 25, 2019, the US Trade Representative (USTR) announced that President Donald J. Trump had stopped US $ 1.3 billion of trade incentives for Thailand under the Universal Preferential System (GSP). because it does not meet the international requirements for workers' rights. This decision will be effective for Thailand after 6 months from the date of publication of the decision. It is expected that seafood exports including Thai shrimp to the US will still face many difficulties.

Shrimp imports into the US from China fell sharply among the major shrimp suppliers to the US. From October 1, 2019, the US has raised a 30% tax on US $ 250 billion of goods imported from China, including shrimp products. China's shrimp exports to the US could not increase.

In the US market, India is still the leading market share (39%) but the average price of Indian shrimp in this market decreased from 9 USD / kg in the first 8 months of 2018 to 8.2 USD / kg in 8 months. Earlier this year, Vietnam shrimp decreased from 11 USD / kg to 10.4 USD / kg. India's market share in the first 8 months of this year reached 39%, up from 35.5% in the same period last year. Vietnam's market share increased from 9.2% in the first 8 months of 2018 to 10.1% in the first 8 months of this year. Compared to Asian and Latin American shrimp supply to the US market, Vietnamese shrimp prices remain at the highest levels.

According to the US Department of Agriculture, the export of breaded shrimp from Vietnam to the US in the first 8 months of this year reached 7,098 tons, worth US $ 50.8 million, up 57% in volume and 52% in value over the same period. period of 2018. This is considered a positive signal for Vietnam's shrimp exports to the US.

China, Thailand and Vietnam are the three main suppliers of powdered shrimp to the US, accounting for 31%, 26%, and 25% of the total value of US shrimp imports, respectively. Of the three main suppliers of shrimp meal to the United States, China is subject to a 30% tax, leading to a sharp decline in China's shrimp product supply to the US by 33% in value and 27% in volume compared to the same period in 2018.

In the context of exporting Vietnam's traditional shrimp products (such as IQF) to the US, there is a strong competition from India (cheap advantage) and Indonesia (not subject to anti-dumping tax). Breaded shrimp is a product with a high profit margin, so Vietnamese enterprises should continue to promote exporting shrimp flour to the US.