Shrimp Exports: A Key Contributor
Shrimp exports played a pivotal role in this achievement, contributing $542.387 million during the two-month span, a 30.8% rise from the previous year. In February 2025, shrimp export turnover was $231.406 million, up by 33.9%. This resurgence indicates that the shrimp industry is regaining its growth momentum after enduring a prolonged period of low prices over the past two years.
Global Market Dynamics
Despite a decline in imports from China and the U.S. in 2024, other markets, including the EU and emerging regions, compensated for this shortfall. This shift helped maintain global shrimp production stability while improving prices, signaling a healthier balance between supply and demand.
European Union: A Market of Interest
The EU emerged as a noteworthy market, importing 376,875 tons of fresh frozen and value-added whiteleg shrimp in 2024, a 4% increase from 2023. This long-term upward trend represents a 26% rise compared to 2019 figures, primarily driven by contributions from Ecuador (up 78%) and India (up 47%).
Vietnam also experienced a partial recovery in supplying the EU market, reinforcing its position among top exporters. However, intensifying competition from Ecuador and India necessitates a strategic focus on value-added products and market diversification to sustain Vietnam's competitive edge.
Optimistic Outlook for 2025
VASEP forecasts a positive trajectory for the shrimp sector in 2025, provided that external uncertainties, such as trade disputes, do not cause further disruptions. Import prices have been on the rise since October 2024 and are expected to remain elevated throughout the year, supported by stable inventories. This trend instills confidence among exporters and importers alike, suggesting a favorable environment for Vietnam's shrimp industry moving forward.
