![\"Covid-19](\"https:\/\/lpfoods.com.sg\/wp-content\/uploads\/2021\/01\/CovidShrimpNewsletterBlogTemplate-4.jpg\")
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According to VASEP in the first 9 months of 2020, Vietnam shrimp export has reached $2.7 billion which is an increase of over 10.5% comparing to last year. On the other hand, the COVID-19 pandemic has delayed unloading at many major ports in the world resulting in a severe shortage of shipping container in Asia. Some seafood companies in Vietnam have experienced a rising of shipping costs by 300 to 500 percent. However, VASEP said it will recommend suitable measures to the government to cope with the situation.<\/p>\n
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Despite the rising of shipping costs, Vietnam shrimp export has continued to grow in the US market – the leading market for Vietnamese shrimp imports. The US is considered the most stable market and has a good demand for shrimp imports especially in the retail segment. Following by the EU market being the 4th largest shrimp importer of Vietnam. We have seen a growth in demand after the EVFTA Agreement took affect from the beginning of August 2020.<\/p>\n
With positive signals of shrimp exports in the first 9 months of 2020, Vietnam seafood exporters can continue to expect a boost in production and exports to major markets as well as seeking opportunities to recover from the impact Covid-19 has caused over the years.<\/p>\n