US becomes biggest Vietnamese shrimp consumer

November 08, 2013 | 09:26

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The Vietnam Association of Seafood Exporters and Producers (VASEP) has announced the US recently overtook Japan to become the world’s biggest importer of Vietnamese shrimp.

The November 7 announcement noted US shrimp prices sharply increased in the first nine months, prompting Vietnam to boost its shrimp shipments to this market.

Vietnam Customs said shrimp exports to the US increased 62.6% from last year’s levels to more than US$542.7 million in the reviewed period.

September 2013’s record 138.7% high was helped by two important US regulatory rulings. All 33 Vietnamese companies were exempted from US anti-dumping tariffs. The US International Trade Commission also vetoed a Department of Commerce decision imposing an average 4.52% anti-subsidy tariff on Vietnamese shrimp, concluding a lawsuit initiated in December 2012.

The two decisions not only lessened Vietnamese shrimp exporters’ cost burdens but also acknowledged the sector operates according to the principles of the market economy and does not receive any Government subsidies.

Shrimp exports to Japan increased 12.8% between January-September 2013 to US$497.1 million.

Exports to the EU show signs of recovering from 2012’s decline. Nine-month exported shrimp value exceeded US$263.6 million, an increase of 14.8%, and shrimp exports to Germany, France, and the UK rose 2.7%, 48.5%, and 34.2% respectively.

VOV

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