Shrimps Market Updated: October 2020

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
No Markets Value(US$) NO Markets Value(US$)
1 China & HK 74,212,027 6 Taiwan 15,334,938
2 Japan 69,593,480 7 The Netherlands 9,704,753
3 The US 24,170,560 8 Germany 9,130,403
4 Canada 21,087,429 9 South Korea 7,989,579
5 Switzerland 15,501,947 10 Belgium 7,876,519
Top 10 largest importers of Vietnamese white shrimp, Jan-Jun 2020
No Markets Value(US$) NO Markets Value(US$)
1 The US 291,392,878 6 Canada 51,003,971
2 Japan 159,270,436 7 The Netherlands 43,182,310
3 South Korea 134,996,376 8 Australia 42,297,107
4 China & HK 88,589,938 9 Germany 38,519,402
5 The UK 82,470,618 10 Belgium 27,330,093
Top 10 largest shrimp exporters of Vietnam in Jan-Jun 2020
NO COMPANIES Jan-Jun 2020 (US$) Jan-Jun 2019 (US$) Variations (%) Proportion in total seafood turnover (%)
Proportion in total shrimp turnover (%)
1 MINH PHU SEAFOOD CORP 142,009,511 199,593,983 -28.9 4 9.3
2 STAPIMEX 130,554,537 75,396,661 73.2 3.6 8.6
3 MINH PHU HAU GIANG SEAFOOD JOINT STOCK COMPANY 84,613,271 86,132,581 -1.8 2.4 5.6
4 FIMEX VN 70,361,670 68,382,266 2.9 2 4.6
5 VINA CLEANFOOD 48,635,106 38,120,535 27.6 1.4 3.2
6 THUAN PHUOC CORP 38,986,366 39,631,402 -1.6 1.1 2.6
7 TAIKA SEAFOOD CORPORATION 9 CAMIMEX CORP 37,494,843 32,403,111 15.7 1 2.5
8 SVS 27,610,287 26,310,194 4.9 0.8 1.8
9 CAMIMEX CORP 25,314,139 21,305,407 18.8 0.7 1.7
10 UTXI CO 24,556,627 18,371,800 33.7 0.7 1.6
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