Illustrative photo (Source: VNA)HCM City(VNA) – Despite a rebound in shrimp exports to the EU in recent months, Vietnam’sshrimp sector is facing a fierce competition in the market, requiring domesticexporters to continue improving their product quality and competitiveness, accordingto the Vietnam Association of Seafood Exporters and Producers (VASEP).
The country’s shrimp enjoyed a surge of 32 percent in exports to the Europeanmarket in the first nine months of 2017.
Shrimp exports to the market in June and July came to a standstill due to thesupply shortage and price hikes while EU businesses reduced shrimp imports. Butfrom August, exports to the EU have been restored with more supply fromdomestic businesses, making the EU the top market of Vietnamese shrimp.
According to theVASEP, leading European importers of Vietnamese shrimp were the UK, theNetherlands and Belgium, with growth of 46.5 percent, 47.8 percent and 34.1percent, respectively.
In the rest of theyear, exports to the EU market are predicted to continue rising as the festiveseason is coming.
Shrimp is a profitable products supplied by many large firms in theAsia-Pacific region. Currently, the major competitors of Vietnam in the EU marketare India and Ecuador.
The free tradeagreement between Ecuador and the EU, which took effect from January 1, 2017,has offered Ecuador the preferential tax rate of zero percent from 3.6 percentearlier, enhancing the competitiveness of the country’s shrimp.
It is forecast thateach year, the EU consumes about 40,000 tonnes of white-leg shrimp from Ecuadorat zero percent tax. Ecuador is likely to enjoy 7-9 percent growth in 2017 inthe market.
Vasep said that to boost exports to the market, businesses should pay moreattention to labels and the quality of products to build brand names and expandmarkets.
According to Tran VanPham, Director of Soc Trang seafood company, firms should invest more intechnology and equipment for shrimp processing to ensure clean products, while reducingproduction cost and improving quality.
Vietnam exported 2.5billion USD worth of shrimp to the world in the first nine months of 2017, arise of 21.9 percent over the same period last years.
Currently, the EU currentlyconsumes about 30 percent of shrimp in the world, with about 6-8 billion USDper year. The market’s shrimp imports increased to 6.7 billion USD in 2016 from5.6 billion USD in 2007.-VNA
The country’s shrimp enjoyed a surge of 32 percent in exports to the Europeanmarket in the first nine months of 2017.
Shrimp exports to the market in June and July came to a standstill due to thesupply shortage and price hikes while EU businesses reduced shrimp imports. Butfrom August, exports to the EU have been restored with more supply fromdomestic businesses, making the EU the top market of Vietnamese shrimp.
According to theVASEP, leading European importers of Vietnamese shrimp were the UK, theNetherlands and Belgium, with growth of 46.5 percent, 47.8 percent and 34.1percent, respectively.
In the rest of theyear, exports to the EU market are predicted to continue rising as the festiveseason is coming.
Shrimp is a profitable products supplied by many large firms in theAsia-Pacific region. Currently, the major competitors of Vietnam in the EU marketare India and Ecuador.
The free tradeagreement between Ecuador and the EU, which took effect from January 1, 2017,has offered Ecuador the preferential tax rate of zero percent from 3.6 percentearlier, enhancing the competitiveness of the country’s shrimp.
It is forecast thateach year, the EU consumes about 40,000 tonnes of white-leg shrimp from Ecuadorat zero percent tax. Ecuador is likely to enjoy 7-9 percent growth in 2017 inthe market.
Vasep said that to boost exports to the market, businesses should pay moreattention to labels and the quality of products to build brand names and expandmarkets.
According to Tran VanPham, Director of Soc Trang seafood company, firms should invest more intechnology and equipment for shrimp processing to ensure clean products, while reducingproduction cost and improving quality.
Vietnam exported 2.5billion USD worth of shrimp to the world in the first nine months of 2017, arise of 21.9 percent over the same period last years.
Currently, the EU currentlyconsumes about 30 percent of shrimp in the world, with about 6-8 billion USDper year. The market’s shrimp imports increased to 6.7 billion USD in 2016 from5.6 billion USD in 2007.-VNA
VNA
