Shrimp exports increase 5.7 percent in first half of 2020

Shrimp exports reached US$1.5 billion in the first six months of 2020, up 5.7 percent over the same period last year, reported Vietnam Association of Seafood Exporters and Producers (VASEP).

Shrimp processing for export at Minh Phu Seafood Group (Photo: SGGP)

In June, shrimp exports reached US$349.9 million, up 19.2 percent over the same month last year. This is the highest growth rate since March.

Of the total export turnover in the first half of the year, white leg shrimp accounted for 70.1 percent while prawn accounted for 18.2 percent. The total export value of the former increased 11 percent while the later saw a decrease of 15 percent.

Despite of impact of the Covid-19 pandemic, Vietnam’s shrimp exports to two main markets including China and the US still posted positive growth rates with the export value from China reaching $57.7 million. In addition, exports to other markets like South Korea, the United Kingdom and Canada obtained two digit growth rates.

According to VASEP, Vietnam has stabilized shrimp production faster than other nations such as India and Ecuador where supply sources were heavily affected by the Covid-19 pandemic in the first six months.

Vietnamese shrimp price has seen upward trend since June. VASEP predicted that export will be good in the coming months.