Shrimp exports to South South Korea sligtly decreased

(seafood.vasep.com.vn) As of March 15, 2021, the total value of shrimp exports to the South Korean market reached 53.6 million USD, accounting for 10.8% of the total shrimp export value, down by nearly 5% over the same period last year. By 2020, whiteleg shrimp products account for nearly 85% of the total shrimp export value to the South Korean market.
Shrimp exports to South South Korea sligtly decreased
Minh Phu's shrimp products

In the structure of Vietnam's seafood export in the past three years to the South Korean market, shrimp is the product with the highest export value, with an average of 15-40 million USD/month. Currently, South Korea is the third largest white shrimp export market of Vietnam (after the US and Japan).

In the first three months of this year, South Korea continued to order white shrimp from Vietnam with outstanding products such as HLSO whiteleg shrimp, fresh and frozen Nobashi white shrimp, fresh and frozen sushi, butterfly whiteleg shrimp, frozen PD white shrimp. In addition, this market also imports fresh and frozen PTO black tiger shrimp from Vietnam.

Originally a large traditional export market of Vietnamese shrimp exporting enterprises, in 2020, shrimp exports to this market was affected by the Covid-19 epidemic, the average shrimp export price to South Korea also decreased slightly.

In the first 3 months of 2021, there were nearly 30 shrimp processing enterprises participating in exporting shrimp to the South South Korean market, of which, Ca Mau Seafood Processing and Service Joint Stock Company (CASES) was the enterprise with the largest export value to this market, followed by businesses such as: MINH PHU HAU GIANG (Hau Giang); Minh Hai Seafood Joint Stock Company (SEA MINH HAI - Bac Lieu); Ngoc Trinh Bac Lieu Seafood Company Limited and Hai Viet Corporation (HAVICO - Ba Ria - Vung Tau).

According to the latest statistics of ITC, in the first two months of this year, South Korea also imported shrimp from more than 100 markets, of which Vietnam is still the leading shrimp supplier of South Korea. In addition, a number of other major shrimp suppliers are also focusing on exporting shrimp to the South South Korean market such as Thailand, Ecuador, Argentina, China, Malaysia ...

In 2020, South Korean seafood importers will also face many difficulties due to the Covid epidemic. So far, due to neglect and subjectivity with epidemics, the 4th wave of infections has returned to the country in March-April 2021. Currently, the authorities have increased surveillance in highly infectious places such as restaurants, cafes, steam facilities and childcare centers. Health officials could tighten regulations in crowded places and business activities if this trend continues. Therefore, in the upcoming time, business activities of South Korean seafood enterprises may not avoid the impact, and sales are likely to decrease.


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  • SPECIALIST ON SHRIMP MARKET

Ms Kim Thu

Email: kimthu@vasep.com.vn

Tel: 84.24.3771.5055 (ext 203)

  • Vinh Hoan
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