(seafood.vasep.com.vn) The US is the largest single import market for Vietnamese shrimp. The demand for US shrimp imports from Vietnam has been quite stable since the outbreak of the Covid-19 pandemic. Vietnamese shrimp in the US market is becoming more and more competitive when India (the largest supplier of shrimp in the US) also faces many barriers due to the Covid epidemic. The market share of Vietnamese shrimp in the US increased from about 8% (2020) to nearly 10% in the first 9 months of 2021.
Among the top 5 largest import markets for Vietnamese shrimp, the US is the market with the best growth rate. During the period of social distancing to prevent the Covid-19 epidemic, shrimp exports to the US only decreased in August and quickly recovered in September, up 8% to $97.6 million. Accumulated in the first 9 months of the year, shrimp exports to the US reached over 775 million USD, up 22% over the same period.
The US remains the leading import market for vannamei shrimp of Vietnamese enterprises. 89% of shrimp export value to the US is vannamei shrimp products. In which, the value of processed vannamei (HS code 16) decreased slightly by 0.6%, live/fresh, frozen whiteleg shrimp (HS code 03) increased by 49%. Black tiger shrimp accounted for only 8.8% of Vietnam's total shrimp exports to the US, also recording a value increase of 46%. In which, the export of fresh/frozen black tiger shrimp (HS code 03) increased by 72%. However, processed black tiger shrimp exported to the US decreased by 29%. Marine shrimp exports to the US increased by 42%, especially dried marine shrimp with a good growth of 96% compared to the same period in 2020.
The US demand for large shrimp is recovering, the US also has high demand for fresh/frozen meat (PD) shrimp products from Vietnam. It is expected that from now until the end of the year, Vietnam's shrimp exports to the US will continue to increase and this growth momentum will last until Q.I/2022.
Retail sales in the US remain up during the pandemic. The US's demand for shrimp imports is still high for takeout and delivery. Demand for restaurants and food services in the US is gradually recovering due to the rapid speed of vaccination in this country.
For detailed information on the export of shrimp and other aquatic products to different markets in the first 9 months of 2021, please register for the Report on Vietnam Seafood Exports QIII/2021.