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Shrimp exports to hit USD2.2 billion this yearShrimp exports are expected to reach US$2.2 billion this year, down 8.3 percent against the same period in 2011.

As of September 2012, shrimp exports had earned US$1.62 billion, 2.9 percent less than last year’s figure.

China and Australia increased their Vietnamese shrimp import volumes in the third quarter. The shrimp sector continues to grapple with challenges including Japan’s shrimp product ethoxyqin level inspections and underwhelming exports to the three major EU, US, and Japanese markets. Vietnamese shrimp exporters also face increasingly fierce competition from Indian and Indonesian rivals.

Third quarter shrimp exports amounted to more than US$610 million (down 3.9 percent from the second quarter) and exports are expected to jump to US$650 million in the fourth quarter (an increase of 6.5 percent).

The Vietnam Association of Seafood Exporters and Producers (VASEP) said that the raw shrimp supply will be sufficient this year but prices will still be higher because of processor demand.

VASEP hopes that shrimp exports to the US market will earn US$127 million in 2012.

(VOV)

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