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VN’s shrimp export reaches 2.25 billion USD in 2012

Vietnam expects to earn 2.25 billion USD from shrimp export in 2012, down 6.3 percent from 2011, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).

In the first 11 months of 2012, Vietnam ‘s shrimp export totalled 2.06 billion USD, a year-on-year decrease of 4.7 percent.

Half of the top 10 import markets reported strong decreases, including the US (down 15.6 percent), EU (25 percent), Canada (14 percent), ASE AN (22 percent) and Switzerland (11 percent).

VASEP blamed the dropping export value on unstable shrimp supply due to diseases and increases of 15-25 percent in input costs.

In the first five months of this year, shrimp export to Japan grew strongly. However, when Japan began examining all shrimp from Vietnam , exports fell by 1.5 to 17 percent.

Shrimp export to the EU was affected by the economic downturn, while sale to the US market suffered from high supply and poor consumption. Exports to the US is unlikely to increase in the near future as reserves remain high.-VNA