Vietnamese shrimp exports will decline in the last quarter of this year, forecast by Vietnam Association of Seafood Exporters and Producers (VASEP). This was made despite a Q3 increase with 840.8 million USD in revenue.
Currently the demand for shrimp in Vietnam’s major markets has stagnated. Those are Japan, the EU, and South Korea due to the economic downturn.
The depreciation of some currencies also made shrimp prices tumble. VASEP predicted that shrimp exports in Q4 will drop by 20-to-25%, with a total revenue of 800 million USD.
