Shrimp Price in Vietnam - 2021
Contents:
- Shrimp Price in Vietnam (FOB) - 2021
- Shrimp Price in Vietnam (CIF) - 2022
- Shrimp Exports in Vietnam
- Shrimp Imports in Vietnam
Shrimp Price in Vietnam (FOB) - 2021
The average shrimp export price stood at $9,374 per ton in December 2021, remaining relatively unchanged against the previous month. Over the period under review, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in January 2021 when the average export price increased by 5.2% m-o-m. Over the period under review, the average export prices reached the maximum at $9,582 per ton in February 2021; however, from March 2021 to December 2021, the export prices failed to regain momentum.
Average prices varied noticeably for the major overseas markets. In December 2021, the countries with the highest prices were the United States ($9,943 per ton) and the UK ($9,611 per ton), while the average price for exports to China ($8,625 per ton) and Taiwan (Chinese) ($8,923 per ton) were amongst the lowest.
From December 2020 to December 2021, the most notable rate of growth in terms of prices was recorded for supplies to the UK (+0.5%), while the prices for the other major destinations experienced more modest paces of growth.
Shrimp Price in Vietnam (CIF) - 2022
The average shrimp import price stood at $9,119 per ton in 2022, stabilizing at the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.9%. The pace of growth appeared the most rapid in 2013 an increase of 24%. The import price peaked at $10,423 per ton in 2015; however, from 2016 to 2022, import prices failed to regain momentum.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($13,196 per ton), while the price for Canada ($7,223 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+5.1%), while the prices for the other major suppliers experienced more modest paces of growth.
Shrimp Exports in Vietnam
Shrimp exports from Vietnam stood at 413K tons in 2022, approximately mirroring the year before. The total export volume increased at an average annual rate of +5.6% over the period from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2020 with an increase of 9% against the previous year. The exports peaked in 2022 and are expected to retain growth in the immediate term.
In value terms, shrimp exports reached $3.8B in 2022. The total export value increased at an average annual rate of +5.4% over the period from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The growth pace was the most rapid in 2020 when exports increased by 8%. The exports peaked in 2022 and are likely to see steady growth in the immediate term.
| Export of Shrimp in Vietnam (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 654 | 873 | 1,051 | 1,038 | 16.6% |
| Japan | 614 | 609 | 574 | 583 | -1.7% |
| South Korea | 335 | 348 | 372 | 368 | 3.2% |
| China | 415 | 292 | 289 | 323 | -8.0% |
| United Kingdom | 202 | 243 | 234 | 232 | 4.7% |
| Australia | 126 | 154 | 189 | 187 | 14.1% |
| Canada | 151 | 187 | 180 | 178 | 5.6% |
| Netherlands | 124 | 144 | 159 | 157 | 8.2% |
| Germany | 124 | 123 | 155 | 153 | 7.3% |
| Belgium | 83.2 | 96.9 | 116 | 114 | 11.1% |
| Hong Kong SAR | 88.8 | 66.4 | 82.6 | 81.6 | -2.8% |
| France | 62.5 | 50.4 | 56.4 | 54.9 | -4.2% |
| Others | 305 | 360 | 361 | 375 | 7.1% |
| Total | 3,284 | 3,546 | 3,820 | 3,843 | 5.4% |
Top Export Markets for Shrimp from Vietnam in 2022:
- United States (108.1K tons)
- Japan (62.4K tons)
- South Korea (40.0K tons)
- China (38.2K tons)
- United Kingdom (24.3K tons)
- Australia (19.9K tons)
- Canada (18.7K tons)
- Netherlands (16.8K tons)
- Germany (16.3K tons)
- Belgium (12.8K tons)
- Hong Kong SAR (9.1K tons)
- France (6.0K tons)
Shrimp Imports in Vietnam
For the fourth year in a row, Vietnam recorded growth in supplies from abroad of shrimps, which increased by 0.5% to 42K tons in 2022. The total import volume increased at an average annual rate of +9.9% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 30% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.
In value terms, shrimp imports stood at $383M in 2022. Over the period under review, total imports indicated prominent growth from 2019 to 2022: its value increased at an average annual rate of +16.3% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +57.1% against 2019 indices. The pace of growth was the most pronounced in 2021 with an increase of 31%. Over the period under review, imports reached the peak figure in 2022 and are likely to see gradual growth in the near future.
| Import of Shrimp in Vietnam (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| India | 158 | 191 | 271 | 268 | 19.3% |
| Ecuador | 8.9 | 15.3 | 35.3 | 34.9 | 57.7% |
| Argentina | 24.5 | 32.3 | 26.6 | 27.6 | 4.1% |
| United States | 9.9 | 11.0 | 12.5 | 12.4 | 7.8% |
| Thailand | 10.6 | 9.2 | 10.3 | 10.2 | -1.3% |
| Australia | 5.1 | 11.1 | 4.9 | 7.0 | 11.1% |
| United Kingdom | 6.1 | 6.7 | 4.6 | 5.7 | -2.2% |
| United Arab Emirates | 5.7 | 0.1 | 0.1 | 2.0 | -29.5% |
| Others | 15.2 | 14.6 | 15.2 | 15.8 | 1.3% |
| Total | 244 | 291 | 381 | 383 | 16.2% |
Top Suppliers of Shrimp to Vietnam in 2022:
- India (29.2K tons)
- Ecuador (3.8K tons)
- Argentina (3.3K tons)
- United States (0.9K tons)
- Australia (0.8K tons)
- Thailand (0.8K tons)
- United Kingdom (0.7K tons)
- United Arab Emirates (0.6K tons)
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