Vietnam’s shrimp export industry is navigating through stable pricing trends across key global markets, according to data released by the Vietnam Association of Seafood Exporters and Producers (VASEP).

Stable Growth in the United States Market

In April, Vietnamese whiteleg shrimp maintained a resilient performance in the United States market, with export prices inching up to USD 9.8 per kg, marking a 1% increase compared to the previous year. Meanwhile, the export price of frozen whiteleg shrimp to China held steady at USD 6.44 per kg in April.

Japan experienced a slight decline in the average export price of frozen whiteleg shrimp, settling at USD 8.5 per kg. Conversely, the Republic of Korea witnessed a price increase to USD 7.4 per kg, demonstrating a robust 4.1% year-on-year growth, indicative of growing demand and market expansion efforts.

Vietnamese black tiger shrimp faced pricing challenges in the Chinese market, with export prices declining to USD 9.5 per kg, marking an 11.2% decrease compared to the previous year.

Industry Challenges and Strategic Imperatives

Despite stable export prices, Vietnam’s shrimp sector continues to confront multifaceted challenges. Rising transportation costs, fluctuating input prices, geopolitical tensions, and global economic uncertainties pose significant hurdles to sustained growth and profitability.

To navigate these challenges and capitalize on emerging opportunities, shrimp export businesses are urged to prioritize strategic development initiatives. Enhancing product quality, integrating advanced technologies in production and farming processes, and optimizing operational efficiencies are pivotal to reducing costs and enhancing overall competitiveness.