Ample room ahead for Vietnamese shrimp exports to Middle East
VOV.VN - With the Middle East market accounting for 1.3% of Vietnam’s total shrimp exports, there remains plenty of opportunities to boost local shrimp exports to this potential market, according to details given by the Vietnam Association of Seafood Exporters and Producers (VASEP).
Local shrimp exports to the Middle East market during the 10-month period reached more than US$39 million, representing a slight decrease of 10% compared to the same period from last year.
Industry insiders assessed that amid numerous challenges from main consumer markets, local businesses are advised to seek small market segments to bolster exports.
The largest importers of Vietnamese shrimp in the Middle East region include Israel, Saudi Arabia, the UAE, Qatar, Lebanon, Turkey, Iran, and Kuwait.
During the 10-month period, Vietnamese shrimp exports to a number of markets in the Middle East region recorded an increase compared to the same period from last year. Specifically, shrimp exports to Saudi Arabia and Iran recorded a 42-fold and eight-fold rise to US$7.6 million and US$1.7 million respectively, while exports Kuwait and Lebanon recorded double-digit growth.
Most notably, exports to Oman and Qatar witnessed a sharp increase of 16 times and four times respectively.
The Middle East market is considered to be a potential market for Vietnamese products as the region depends heavily on imported food supplies.
As a means of meeting domestic demand, the Middle East must import up to 80% of food and foodstuffs, equivalent to US$40 billion per year, with demand for aquatic products growing strongly, especially in markets such as Saudi Arabia and the UAE.
Experts have advised local firms to meet high import requirements set for food products, including a Halal certification and packaging standards in a bid to make further inroads into the market.