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Shrimp exports to reach over US$2.1 billion in 2011

Vietnam shrimp exports in the first nine months of 2011 gained a remarkable achievement in spite of facing a lot of difficulties. In the past nine months, shrimp exports reached US$1.69 billion, up 18.5 percent from that of the same period last year. In which, black tiger shrimp exports achieved over US$1 billion, representing 59 percent of the total shrimp export value and whiteleg shrimp exports reached nearly US$477 million, accounting 28 percent. In the period of Jan-Sep 2011, Vietnam shrimp was exported to other markets apart from three main traditional markets (the U.S., Japan and EU). In the period of Jan-Sep 2010, shrimp export value to these three markets made up more than 71 percent of the total shrimp export value but this year, this figure reduced to 65 percent. Shrimp exports to other markets such as South Korea, ASEAN, particularly Russia rose sharply. In Jan-Sep 2011, shrimp exports to Russia reached US$17.7 million, up 336.6 percent against Jan-Sep 2010, shrimp exports to South Korea up 42.6 percent, ASEAN up 60.7 percent. During the period of 2011, Vietnam shrimp exports confronted with a lot of obstacles. Firstly, earthquake and tsunami in Japan at March led to the reduction in Vietnam shrimp exports to the market due to weak consumption. Shrimp exports to Japan recovered in August after a sharp reduction in 5 months. The U.S. has surpassed Japan to become the top shrimp importer of Vietnam while Japan held the first position in nearly past ten years. Secondly, the problem of shortage of raw material becomes usual to Vietnam shrimp processors and exporters but in 2011 the problem is worse more than ever before. In May 2011, the black tiger shrimp price reported the record high of VND260, 000 per kilogram (size 20 pieces per kilogram), the highest in the past ten years. Shrimp died in many industrial shrimp farming areas in Soc Trang, Tra Vinh, Bac Lieu provinces due to diseases. According to the report of Ministry of Agriculture and Rural Development (MARD), until the end of the third quarter of 2011, 81,000 hectares of shrimp farming area was lost in which Soc Trang province was hit the worst with over 28,000 hectares. Many domestic shrimp processing plants only operated at 40 – 50 percent of their capacity and must compete with Chinese dealers to purchase raw material at their localities. Based on the achievements in shrimp export in the first 9 months 2011, hopefully, Vietnam shrimp exports of the full year will exceed US$2.1 billion of last year.

Source: VASEP

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