Shrimp Export: Optimistic about Price and Market
Due to limited supply in many shrimp exporting countries, shrimp prices in the world market in the first 6 months of the year were quite good in terms of quantity and price. Shrimp exporting enterprises are stepping up to increase year-end orders, and the banking sector has also committed to having a special credit policy for aquatic raw material areas.
Due to limited supply in many shrimp exporting countries, shrimp prices in the world market in the first 6 months of the year were quite good in terms of quantity and price. Shrimp exporting enterprises are stepping up to increase year-end orders, and the banking sector has also committed to having a special credit policy for aquatic raw material areas.
Vietnam's shrimp export value by the end of the second quarter of 2013 has increased significantly compared to the same period last year. Although raw material output has decreased compared to the previous year due to disease and many shrimp farmers no longer have capital to maintain production, shrimp exporting enterprises still try to maintain output as well as increase export turnover. For example, Minh Phu Seafood Corporation, in the first 6 months of 2013, exported 14,450 tons of shrimp, worth 175.3 million USD, equal to 96.53% in volume and 97.92% in value compared to the same period last year.
Shrimp classification ready for preliminary processing at Fimex Viet Company
According to the customs sector, Vietnam's shrimp exports in the first 6 months of the year increased by 8.6%, reaching over 1.1 billion USD, with major markets such as Japan, the US, China and Canada all seeing encouraging growth. In June alone, exports to Vietnam's largest shrimp market, Japan, increased by 7.9% over the same period last year. This is also the fourth consecutive month that shrimp exports to this market have grown, with a total increase of 6.6% in the first 6 months of the year, reaching 293.9 million USD.
Besides Japan, the export price of Vietnamese shrimp in the US also increased quite a bit. If in January 2013, the selling price of HLSO black tiger shrimp size 16/20 in the US was 5.20 USD/pound (1 pound = 453.59237 grams), by the end of June it had increased to 6.10 USD/pound. In the first 6 months of this year, Vietnam's shrimp exports
The highlight is that white-leg shrimp has begun to find a foothold in the world market as the demand of many countries has begun to change consumer trends, looking for cheaper products. According to the Vietnam Association of Seafood Exporters and Producers, the proportion of white-leg shrimp exports in the first two quarters of the year accounted for 41.3%, reaching nearly 456 million USD; while black tiger shrimp accounted for 50.8% and earned more than 560 million USD. It is known that black tiger shrimp output in the first 6 months of the year reached 80,000 tons, down 27.1% over the same period last year, while white-leg shrimp output reached 20,000 tons, up 33.3%.
Thailand, the largest shrimp exporter to the US market, is facing difficulties in raw material sources due to early mortality syndrome. Vietnamese shrimp businesses and farmers are also facing many difficulties. However, with the results achieved in the past 6 months, the target of shrimp export turnover this year reaching around 2.2 billion USD is achievable.
In the last months of the year, besides the big markets, shrimp exporting enterprises are also looking for ways to expand new markets, promoting the export of goods to the most potential markets, especially Southeast Asia and China.
To support seafood businesses in general and shrimp businesses in particular, the State Bank has also committed to having a specific credit mechanism for seafood raw material areas. According to State Bank Governor Nguyen Van Binh: The Government and the banking system are conducting a preliminary review to issue new, more appropriate regulations to overcome the current situation where credit for seafood raw material areas is low, while processing loans have a higher proportion.
According to (Industry and Trade Newspaper) - HV