Product description:

The Shrimps market has now entered the off-season stage in a strong demand market pushed by USA and Europe. From Central to South Vietnam, ponds are now empty and farming is on rotation to minimize the risk associated with bad weather.

In the Central of Vietnam the typhoon season has started with the usual strength and power so farming has nearly halved, restarting will happen only after TET 2021 scheduled for February 12, so main harvest commencing around end May. In the South this year started seeding the 2nd crop earlier than last year due to the colder weather brought by La Nina. So now South Vietnam is preparing for the dry season which will be peak in the November/December.

Vietnam factories are flooded by orders with major producers fully booked until year end, especially from the European retailers increasing orders of cooked shrimps after the EU-VN Free Trade Agreement went into the effect + weak availability of certified ASC raw material in other origins.

There is no availability of small sizes as most of it where booked on annual contracts in the months of May-June by the European markets. The medium and big sizes have therefore gone up in prices, reversing the weakness trend of the June-July months.

The price may go up higher in next coming weeks if the weather turns bad, but will remain in line with last year. On the other end, we forecast quantity scarcity.The raw material is getting more scarce due to off season, diseases plus farmers reduce farming quantity. There will be no raw material or very few early next year Jan-April while waiting for the main crops coming in May.

Top 10 largest importers of Vietnamese black tiger shrimp, Jan-Jun 2020
1China & HK74,212,0276Taiwan15,334,938
2Japan69,593,4807The Netherlands9,704,753
3The US24,170,5608Germany9,130,403
4Canada21,087,4299South Korea7,989,579
Top 10 largest importers of Vietnamese white shrimp, Jan-Jun 2020
1The US291,392,8786Canada51,003,971
2Japan159,270,4367The Netherlands43,182,310
3South Korea134,996,3768Australia42,297,107
4China & HK88,589,9389Germany38,519,402
5The UK82,470,61810Belgium27,330,093
Top 10 largest shrimp exporters of Vietnam in Jan-Jun 2020
NOCOMPANIESJan-Jun 2020 (US$)Jan-Jun 2019 (US$)Variations (%)Proportion in total seafood turnover (%)
Proportion in total shrimp turnover (%)
1MINH PHU SEAFOOD CORP142,009,511199,593,983-28.949.3
4FIMEX VN70,361,67068,382,2662.924.6
5VINA CLEANFOOD48,635,10638,120,53527.61.43.2
6THUAN PHUOC CORP38,986,36639,631,402-
7TAIKA SEAFOOD CORPORATION 9 CAMIMEX CORP37,494,84332,403,11115.712.5
9CAMIMEX CORP25,314,13921,305,40718.80.71.7
10UTXI CO24,556,62718,371,80033.70.71.6