Viet Nam dominates Canada’s shrimp market
Viet Nam dominates Canada’s shrimp market
Viet Nam’s shrimp export value to Canada reached US$27.7 million by March 2018, a year-on-year increase of 16 per cent, according to Viet Nam Association of Seafood Exporters and Producers (VASEP).
For many years, Canada has been among the top 10 shrimp import markets of Viet Nam. Although shrimp exports to Canada has not grown noticeably and continuously, the country is still considered a potential market for Vietnamese shrimp products due to its proximity to the United States and high living standards of the Canadian people.
Canada imports an average of over 50,000 tonnes of shrimps every year. From 2013 to date, the volume of shrimps imported by Canada has increased from 48,000 tonnes to 55,000 tonnes.
In 2017, shrimp imports value to Canada reached $546.5 million, up by 14 per cent compared to 2016. The four largest shrimp suppliers to Canada include Viet Nam, India, Thailand and China. Of these, Viet Nam is the largest supplier, accounting for 26.8 per cent of the total import value in 2017.
Consumers in Canada increasingly prefer processed seafood, especially processed and frozen shrimps, due to their high usability. Shrimp dishes are increasingly becoming popular in restaurants too.
According to VASEP, to have successful exports of shrimps to Canada, Vietnamese businesses should focus on the value-added products segment. Regarding fresh seafood products, Vietnamese firms should provide information to Canadian customers on preparing or processing those products.
Exporters should also pay more attention to the model of goods, develop new products as well as focus on quality services, packaging, labelling and appropriate prices, VASEP suggested.
