Vietnam shrimp exports to China jump 145% as demand recovers

By Dat Nguyen   March 25, 2024 | 03:31 am PT
Vietnam’s shrimp exports to China in January and February rose by 145% year-on-year to US$81 million amid recovering demand in that country.

Exports to the U.S. were up 26% at $72 million, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).

Overall, exports increased by 24% to $425 million.

VASEP said consumers in China and the U.S. rate the quality of Vietnamese shrimp higher than its competitors from Ecuador and India.

Industry insiders expect a strong recovery in these two markets in the coming months.

Vietnam’s shrimp production rose 5.5% last year to 1.1 million tons, but exports declined by 20% to $3.45 billion due to low demand in key markets.

Exports are expected to rise to $4 billion this year, accounting for 50% of total fisheries exports.

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