VASEP: Shrimp export to earn US$3.3 billion in 2016
The Vietnam Association of Seafood Exporters and Producers (VASEP) forecasts that shrimp exports will reach US$3.3 billion in 2016, up 12% from 2015.
The sector saw a surge in the first month of this year, up 8% from the same period last year, according to VASEP.
Shrimp prices also saw a slight increase of 5-20% in the Mekong Delta region due to low supplies.
Statistics from the General Department of Vietnam Customs showed that shrimp exports to the US generated US$657 million in 2015, up 38.3% from 2014, making the US the largest import market of Vietnam.
Vietnam’s shrimp exports to the US in 2016 will rise thanks to positive results from the ninth administrative review (POR9) for anti-dumping duties on Vietnamese frozen shrimp and the signing of the Trans-Pacific Partnership (TPP).
In 2015, Vietnamese shrimp was sold in 92 markets, down from 150 markets the previous year.
Key markets included the US, Japan, the EU, China, the Republic of Korea, Canada, Australia, ASEAN and Switzerland.