Shrimp exports to Chinese market increased by 50% in October
VOV.VN - Vietnamese shrimp exports to China soared by 50% to US$65 million in October, with the northern neighbour surpassing the United States to become the largest importer of local shrimp, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).
During the past 10 months of the year, the shrimp industry raked in US$547 million from exports to the Chinese market, representing a rise of 60% against the same period from last year.
October witnessed Vietnamese shrimp exports to China recorded the highest growth rate among the top five major Vietnamese shrimp import markets.
China’s rising demand for shrimp imports can largely be attributed to the mid-autumn festival, National Day, and the upcoming Lunar New Year festival.
The reviewed period witnessed China import 691,000 tonnes of frozen warmwater shrimp, up 49% on-year, with the import value expanding by 65% to reach US$4.52 billion.
According to details given by the experts, China's shrimp imports in November and December are anticipated to decline, but they will rebound strongly after the Lunar New Year.
Furthermore, China’s recent policy of removing the suspension of the import of frozen food contaminated with the SAR-COV-2 virus is expected to be a positive signal for shrimp suppliers, including Vietnam moving forward.
