MEKSEA.COM – The US market is Vietnam’s largest shrimp import market, accounting for 20% of Vietnam’s total shrimp export turnover to the world. As of October 15, 2024, Vietnam’s shrimp export turnover to the US reached nearly 600 million USD, up 10% over the same period in 2023.

According to Ms. Phung Thi Kim Thu, in the first 3 quarters of 2024, Vietnam’s shrimp exports to the US reached 566 million USD, up 9% over the same period last year. After a 7% decrease in the second quarter, Vietnam’s shrimp exports to the US had a significant recovery in the third quarter, up 19%. Total shrimp export turnover to the US in the third quarter reached 263 million USD, up 19% over the same period in 2023. This recovery is driven by demand during the holidays, inventory reductions, and a more positive economic outlook.

The structure of Vietnamese shrimp products exported to the US in the first 3 quarters of 2024 was mainly whiteleg shrimp, accounting for 85.5%, followed by black tiger shrimp accounting for 8.9%, and the rest were other types of shrimp. Notably, the export value of processed black tiger shrimp recorded the highest growth rate, reaching 44%. Among other shrimp types, fresh/frozen shrimp products grew the strongest with an increase of 188%. The average export price of frozen white leg shrimp to the US in the first 3 quarters of 2024 ranged from 9.6 – 10.3 USD/kg, while the price of black tiger shrimp ranged from 14.9 – 19.3 USD/kg.

Notably, the average export price of black tiger shrimp to the US in the third quarter tended to decrease slightly compared to the second quarter, contrary to the price trend of white leg shrimp. The average price of black tiger shrimp in the third quarter of 2024 recorded unstable fluctuations.

The re-election of President Trump will certainly affect the import of goods into the US, including seafood. This brings both opportunities and challenges to Vietnam’s shrimp exports, depending on the tax rate that the Trump administration may apply. Mr. Trump has proposed a 10% tax on all goods imported into the US, which could push up consumer prices and potentially affect domestic GDP and employment.

Meksea brings you our list of best-selling shrimp products this week.

Kindly please visit Meksea website to explore our shrimp products: https://mekseaconnection.com/product-category/shrimp/

Meksea always pays particular attention to product quality to secure each consumer’s family member’s health and set their mind at rest by bringing in true quality seafood products.

Are you looking for shrimp products for your sales plan for 2024 – 2025? Contact Meksea right now for the best offers.

By Hayati/Orange (Meksea Team)

(Reference: nguoinuoitom)

(hayati@mekseaconnection.com)

If you found this topic interesting, please click the Like button below, so we may continue to expand this topic. Leave a comment with your thoughts for the author team to discuss