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This Vietnamese shrimp exports remains a huge challenge for the business .
According to the special issue "EVFTA and Vietnam Trade" for the second quarter of 2021 released by the Ministry of Industry and Trade of Vietnam, Vietnam’s shrimp exports to the EU market have achieved good results in the first few months of this year, thanks to the effective use of the EVFTA agreement.
Tariff commitments
.
Tariff commitments
.
According to statistics from the General Administration of Customs of Vietnam, Vietnam exported 18,62 tons of shrimp to the EU in the second quarter of this year, with exports amounting to US$159.
4 million, an increase of 43.
6% and 42% year-on-year respectively
.
In the first half of 2020, Vietnam exported 29,600 tons of shrimp to the EU market, with an export value of US$255.
7 million, an increase of 25.
2% and 27.
5% respectively year-on-year
.
4 million, an increase of 43.
6% and 42% year-on-year respectively
.
In the first half of 2020, Vietnam exported 29,600 tons of shrimp to the EU market, with an export value of US$255.
7 million, an increase of 25.
2% and 27.
5% respectively year-on-year
.
The representative of the Import and Export Bureau of the Ministry of Industry and Trade of Vietnam stated that the average price of Vietnamese shrimp exported to the EU in the first half of this year was US$8.
63/kg, an increase of US$0.
16/kg year-on-year
.
In recent months, the number of shrimp exported to meet the EVFTA tax reduction requirements has increased
.
63/kg, an increase of US$0.
16/kg year-on-year
.
In recent months, the number of shrimp exported to meet the EVFTA tax reduction requirements has increased
.
However, if compared with other EU shrimp suppliers such as India and Ecuador, Vietnamese shrimp prices are still uncompetitive
.
.
According to Eurostat statistics, the EU imported 169,600 tons of shrimp from non-EU markets in the first four months of this year, accounting for 67.
9% of total imports; imports amounted to US$1.
192 billion, accounting for 73.
5% of total imports
.
9% of total imports; imports amounted to US$1.
192 billion, accounting for 73.
5% of total imports
.
Among them, Vietnam is the EU's third largest shrimp supplier after Ecuador and India, accounting for 8% of the quantity and 10.
5% of the amount
.
The average price of shrimp imported by the EU from Vietnam in the first four months of this year was 7.
82 Euro/kg, a year-on-year decrease of 0.
78 USD/kg
.
5% of the amount
.
The average price of shrimp imported by the EU from Vietnam in the first four months of this year was 7.
82 Euro/kg, a year-on-year decrease of 0.
78 USD/kg
.
At the same time, the prices of shrimp imported from Ecuador and India in the first four months of this year were 5.
05 Euro/kg and 5.
67 Euro/kg respectively
.
This is the reason why Vietnamese shrimps have not increased their market share in the EU even though they have enjoyed EVFTA's preferential treatment
.
05 Euro/kg and 5.
67 Euro/kg respectively
.
This is the reason why Vietnamese shrimps have not increased their market share in the EU even though they have enjoyed EVFTA's preferential treatment
.
