Shrimp exports to the EU market continue to grow

Accordingly, exports to the Netherlands and Belgium grew by double digits, 19% and 21% respectively, while exports to Germany increased by 9% over the same period in 2023.

Vietnam's shrimp exports to the EU began to record double-digit growth from April and maintained stable growth in May and June.

It is expected that the EU's shrimp import demand from July to the end of 2024 will continue to increase, as the EU economy gradually stabilises and inflation continues to decrease.

Vietnam’s traditional shrimp products exported to the EU market will face competitive pressure from rival suppliers. In contrast, value-added products will grow better than in previous years because inventories have decreased significantly.

In the structure of shrimp products exported to the EU in the first two quarters of 2024, white-leg shrimp accounted for the largest proportion at 80.5%, black tiger shrimp accounted for 12.4%, and the rest were other types of shrimp.

In the second quarter of 2024, the average export price of white-leg shrimp to the EU fluctuated from 7.2-7.4 USD/kg, and the price of black tiger shrimp fluctuated from 8.6-10.3 USD/kg.

The average export price in the second quarter of this year of both white-leg shrimp and black tiger shrimp to the EU tended to increase compared to the first quarter of the year and increased compared to the same period last year.

Regarding the demand in the EU shrimp market, in Northwestern Europe, the demand for more convenient value-added products is increasing, while in Southern Europe, there is a higher demand for affordable whiteleg shrimp products.

Currently, the EU market requires shrimp to meet safety standards, suppliers have solutions to reduce emissions (farming, processing), traceability (shrimp feed ingredients and parent shrimp), and animal welfare (parent shrimp are not cut off during artificial reproduction, and are farmed at moderate density).