The value of shrimp exports from Vietnam will amount to more than $2 billion (€1.5 billion) this year, dramatically up on the $1.7 billion (€1.3 billion) recorded in 2009, said the Vietnam Association of Seafood Exporters and Producers (Vasep).
This record result has been attributed to improved shrimp farming practices, said Nguyen Huu Dung, Vasep deputy chairman.
In the first 11 months of 2010, Vietnam exported 210,000 tonnes of shrimp, valued at more than $1.8 billion (€1.4 billion).
Throughout the year, shrimp products have been in high demand in most of the main export markets, including Japan, the US and the EU.
Exports to Japan, the largest export market, had a year-on-year volume increase of 21.7%, for a total of 60,000 tonnes. Earnings were up 29% to $550 million (€415 million).
The US, Vietnam's second largest export market, consumed 42,441 tonnes of the country's shrimp, bringing in earnings of $450 million (€339.5 million). These exports soared by 16% in volume and 34.6% in value compared with the same period last year.
Meanwhile, Vietnamese exporters shipped 40,000 tonnes of shrimp to the EU in the first 11 months, earning $290 million (€218.9 million). Exports rose by 8.1% in volume and 16.8% in value against the first 11 months of last year.
The growth in shrimp export value was partly the result of increases in the price of shrimp on the world market, said Vasep.
The current export price is $8,530 (€6,439) per tonne compared with $5,017 (€3,787) per tonne a year ago.
