The major suppliers of breaded shrimp to the US market include China, Thailand, and Vietnam. With the US recently imposing a 25 per cent tariff on US$200 billion worth of Chinese goods since May, there has been a sharp decline in the volume of breaded shrimp exported from China to the US market.
This is in addition to Thailand’s breaded shrimp exports seeing increasingly high prices caused by large production costs.
In order to capitalize on these factors and gain a larger market share from China and Thailand, VASEP has advised Vietnamese businesses to make investments in production chains in order to launch products that will be competitive on the market.
VASEP noted that along with a diligent workforce, breaded shrimp is considered a value-added product that can bring considerable benefits to domestic export businesses in the future.