Shrimp exports to China recovered
According to the Association of Seafood Exporters and Producers (VASEP), after a sharp decline in the first quarter of 2020 due to the severe impact of COVID-19 pandemic in Wuhan, Vietnam's shrimp exports to China have recovered in the second quarter of 2020, up 13.5% over the same period last year.
Accumulated export value in the first 6 months of this year, Vietnam's shrimp exports to China reached USD 226.7 million, down 2.9%. In the first quarter of 2020, China is the country most heavily affected by the COVID-19 pandemic in the world. In quarter II / 2020, the pandemic has been better controlled.
Supply chain disruptions are addressed, and the demand for imported seafood including shrimp is also increasing.
China is the largest import market for black tiger shrimp of Vietnam. In the first six months of this year, in the structure of shrimp products exported to China, black tiger shrimp accounted for 32.7%, whiteleg shrimp accounted for 39.1%, the rest was marine shrimp.
Export of whiteleg shrimp and black tiger shrimp to China in the first half of this year decreased, only export of marine shrimp increased by 137%, especially dried marine shrimp increased 1,812%.
According to data from China Customs, in the first six months of this year, China imported 339,000 tons of frozen warm water shrimp, worth USD 1.98 billion.
China's imports of frozen warm water shrimp in June increased by 36% compared to May to 75,000 tons, the highest level since December 2019. The import value of frozen warm water shrimp reached USD 420 million, an increase of 34% compared to May.
VASEP forecasts that Vietnam's shrimp exports to China will continue to increase in the third quarter of this year, to offset the reduced supply from Ecuador and India.
China's domestic shrimp production this year is expected to decline due to disease in shrimp, China's coldwater shrimp imports also tend to decrease, China's economic growth in the second quarter of this year has been better and is forecast to not decline for the whole year.
Therefore, China's demand for shrimp imports is not expected to decrease. It is expected that Vietnam's shrimp exports to China will increase by about 7% in 2020.
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