MEKSEA.COM – Demand for US shrimp imports from Vietnam has remained stable even amid the COVID-19 outbreak. The US is the market with the best growth rate in the top 5 shrimp import markets of Vietnam. Moreover, Vietnamese shrimp in the US market is becoming more and more competitive when India (the largest supplier of shrimp in the US) also faces many barriers due to the Covid epidemic.

After decreasing in August, Vietnam’s shrimp exports to the US in September 2021 recovered slightly, up 8% to $97.6 million. Accumulated in the first 9 months of the year, shrimp exports to the US reached over 775 million USD, up 22% over the same period.

The US is the market with the best growth rate among the top 5 largest import markets for Vietnamese shrimp. (photo: Internet)

The US remains the leading import market for vannamei shrimp of Vietnam. Nearly 90% of total shrimp exports to the US is vannamei products. In which, the value of processed vannamei (HS code 16) decreased slightly by 0.6%, live/fresh, frozen vannamei shrimp (HS code 03) increased by 49%. Black tiger shrimp accounted for only 8.8% of Vietnam’s total shrimp exports to the US, also recording a value increase of 46%. In which, the export of fresh/frozen black tiger shrimp (HS code 03) increased by 72%. However, processed black tiger shrimp exported to the US decreased by 29%. Marine shrimp exports to the US increased by 42%, especially dried marine shrimp with a good growth of 96% compared to the same period in 2020.

Post-pandemic, US demand for large shrimp is recovering rapidly. Especially, Vietnamese fresh/frozen shrimp (PD) products are in high demand. It is expected that Vietnam’s shrimp exports to the US will continue to increase, and last until the first quarter of 2022.

The US’s demand for shrimp is gradually recovering due to the rapid speed of vaccination. (photo: internet)

With the rapid speed of vaccination, restaurants and food services in the US are gradually recovering at a high speed. Retail sales in the US are still growing during the pandemic. Demand for US shrimp imports for purchase and home delivery remains high. Demand for restaurants and food services in the US is gradually recovering due to the rapid pace of vaccination in the country.

Moreover, serving the consumption needs of people during the peak season, when the year-end holidays are approaching, the demand for shrimp imports from the US continues to increase. August is the 9th consecutive month, importing shrimp of the US recorded positive growth. The US imported 89,407 tons of shrimp, worth $822.9 million in August 2021, up 8% in volume and 17% in value compared to 82,427 tons, valued at 701.6 million USD in August 2020.

By Hayati (Meksea Team)

(hayati@mekseaconnection.com)

(Reference: VASEP)

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