MEKSEA.COM – According to the Vietnam Association of Seafood Exporters and Producers, thanks to export growth, 2021 became one of the most successful years in the shrimp industry. Thanks to recovery after covid-19, the world’s seven largest shrimp exporting countries exported 2.57 million tons in 2021.

The top 7 largest shrimp exporting countries in the world include Argentina, China, Ecuador, India, Indonesia, Thailand and Vietnam. According to the World Trade Center, 6 of these 7 countries (except Argentina) mainly produce farmed shrimp and recorded an increase in exports of 15% in 2021 from 2.24 million tons in 2022. In terms of value, exports increased. 23% reached 20.79 billion USD.

Export revenue increased on the back of a recovery in consumption in North America and Europe as the Government eased Covid-19 restrictions and more people returned to eating at restaurants.

However, in 2022, the inflation pressure causes consumers to tighten their spending. Therefore, the world’s shrimp demand is lower than last year.

In the first 4 months of 2022, the US imported 66,000 tons of shrimp worth 636 million USD in February 2022, up 25% in volume and 41% in value compared to February 2021.

Read more: Vietnam’s black tiger shrimp exports to the EU increased by 107%

For Vietnam, shrimp exports grew impressively in the first half of this year. In May, shrimp exports reached USD 416 million, up 19% after a significant increase by 47% in April. By the end of May, shrimp exports were estimated at USD 1.8 billion, up 38% and accounting for 39% of total turnover seafood export.

According to businesses, shrimp exports in the first four months of this year increased dramatically for five reasons: availability of raw materials for reserve and inventory from 2021, many businesses signed contracts from the end of last year at a low price, high in the context of Covid-19 stress, global price inflation, the return of Vietnamese businesses to international seafood fairs in the US and EU.

Meksea send you the list of our best selling products this week

Kindly please visit Meksea website to explore our shrimp products: https://www.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.

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By Hayati (Meksea Team)

(hayati@mekseaconnection.com)

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