Vietnam shrimp exports to Australia rise strongly in 2019
Shrimp exports to Australia increased strongly in 2019, expanding at a two-digit growth rate, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).
Shrimp exports to Australia reached nearly 121 million USD by December 15, 2019, representing a rise of 12.6 percent over the same period of 2018 – the highest rate among the top ten shrimp export markets of Vietnam.
Australia was the seventh largest shrimp export market of Vietnam, according for 3.8 percent of Vietnam’s total shrimp export revenue.
Shrimp exports to Australia have seen strong recovery since April 2019, after posting a decline in 2018.
Especially, July saw the highest increase of 56 percent, with November at a rate of 45 percent.
For many years, Vietnam was the largest shrimp exporter to Australia, accounting for 42 percent of Australia’s shrimp imports, followed by China with 23 percent and Thailand with 22 percent.
Both Australia and Vietnam are members of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) which took effect from the beginning of 2019. Accordingly, shrimp exported to Australia would enjoy zero tariffs.
According to VASEP, Australia was among countries with strict requirements on food hygiene and safety.
VASEP urged firms to establish production chains to increase shrimp quality with clear origin to expand exports to Australia.
Shrimp export s to Australia hit 114.7 million USD in 2018, dropping by 4.4 percent against 2017.
Vietnam’s shrimp exports saw total revenue of 3.39 billion USD in 2019, a decrease of nearly 5 percent. VNA