Vietnam’s shrimp export value in June reached nearly 402 million USD, bringing the shrimp export value in the first half of 2021 to 1.7 billion USD, up 13% over the same period in 2020, according to information from the Vietnam Association of Seafood Exporters and Producers (VASEP).
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Specifically, Vietnam’s shrimp exports to the U.S. in June 2021 increased by 45% compared to the same period in 2020, to Japan by 17%, to South Korea by 10% and to some European countries by 15 – 60%.
Although the US accounts for 30% of global shrimp imports and 22% of Vietnam's shrimp exports, Vietnamese shrimp products currently account for only 8.5% of the US market, behind India, Indonesia and Ecuador.
Deputy Director of Ca Mau Department of Industry and Trade Duong Vu Nam said the locality expects to achieve shrimp export value of 1 billion USD in 2021, contributing 25% of the country’s shrimp export value.
Experts say that shrimp export growth comes from advantages from new-generation free trade agreements such as the EU-Vietnam Free Trade Agreement (EVFTA), Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the UK-Vietnam Free Trade Agreement (UKVFTA).
Mr. Nam said that Ca Mau currently has 40 shrimp processors and exporters, including 32 factories processing seafood products with an annual capacity of 250,000 tons.
The province’s shrimp products are currently exported to more than 60 countries and territories worldwide. Companies in Bac Lieu province are also trying to make full use of the EVFTA when the tax under this agreement is reduced from 12-20% to 0%. ■
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