China Leads as Vietnam's Premier Shrimp Export Destination

In a significant shift in global trade dynamics, China has surpassed the United States to become Vietnam's top shrimp export market in the first half of the year, with imports totaling nearly US$595 million. This change is attributed to a domestic supply shortage in China and increased demand for premium seafood products like lobster during the summer months.

Factors Driving Vietnam's Shrimp Export Success

Geographic proximity and competitive pricing have played pivotal roles in Vietnam's ability to capitalize on China's growing appetite for shrimp. Meanwhile, traditional markets such as Japan, South Korea, and the E.U. have shown steady growth, with Japan particularly interested in deeply processed, ready-to-eat shrimp products.

A lobster for sale in Ho Chi Minh City. Photo by VnExpress/Quynh Tran

Challenges and Opportunities in the US Market

Exports to the U.S., previously Vietnam's largest shrimp market, have declined, influenced by new tariffs and looming anti-dumping duties. Despite a temporary surge in May, June saw a 37% drop in exports. The E.U.-Vietnam Free Trade Agreement, however, offers a competitive edge in European markets.

Future Outlook for Vietnam's Shrimp Industry

With global market shifts impacting domestic prices and demand, Vietnamese shrimp producers are focusing on diversifying markets and enhancing product quality. The industry is also adapting to stricter traceability and origin requirements from major markets, aiming to sustain growth in a volatile global trade environment.