Shrimp exports top $1b in H1

Shrimp exports top $1b in H1

The country's shrimp exports in the first half of this year were estimated to be worth US$1.03 billion, increasing 1.5 per cent over the same period last year.

However, the Association of Seafood Exporters and Producers (VASEP) forecast that shrimp exports into the US would hardly improve in the third quarter.

This is due to the US Department of Commerce's (DOC) recent preliminary decision on anti-subsidy duties on frozen shrimp imported from seven countries, including Viet Nam, VASEP explained.

The final decision would be issued in mid-August, according to VASEP, saying that it was possible Vietnamese shrimp would be hit by two taxes on the US market: anti-subsidy duty and anti-dumping duty.

Exports of shrimp into Japan were expected to increase by just 1-3 per cent in the second and third quarters over the same periods last year.

The association said the devaluation of the yen against the US dollar caused difficulties for those exporting shrimp to Japan and the check of the Ethoxyquin level in shrimp continued to hinder shrimp exports to the market.

In European markets, shrimp exports would remain gloomy in the third quarter as the EU economy struggled.

Viet Nam earned about $2.25 billion from shrimp exports in 2012, 6.3 per cent lower than 2011. This year's figure was expected to reach $2.4 billion.

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