Sao Ta Joint Stock Company harvests shrimp at the end of 2021 (photo provided by the enterprise).

According to the Vietnam Association of Seafood Exporters and Producers (VASEP), in October 2021, among the main import markets, shrimp exports to the US, EU, and Korean markets all increased, but exports to China continued to decrease.

In particular, shrimp exports to the US market grew very well. In October 2021, shrimp exports to the US reached US$117.7 million, up 19% compared to October 2020. In 10 months of this year, shrimp exports to this market reached US$892.7 million, up 22% over the same period last year.

The demand for US shrimp imports from Vietnam has been quite stable since the Covid-19 pandemic started. During the 4th outbreak in Vietnam, shrimp exports to the US only decreased in August and quickly recovered in September.

From now until the end of the year, Vietnam's shrimp exports to the US will continue to increase, this growth momentum will last until the first quarter of 2022.

Similarly, from the beginning of the year, Vietnam's shrimp exports to the EU market recorded a good growth rate. The EU's shrimp import demand in the last months of this year continues to increase. In October 2021, Vietnam's shrimp exports to the EU reached nearly US$74 million, up 13% compared to October 2020. In the first 10 months of this year, Vietnam's shrimp exports to this market reached nearly US$482 million, up 10.4% over the same period last year.

Contrary to other markets, Vietnam's shrimp exports to China still fell deeply. In October, Vietnam's shrimp exports to China only reached US$43.5 million, down 36.5% over the same period last year. In the first 10 months of this year, Vietnam's shrimp exports to this market reached US$341.5 million, down 25% compared to the same period last year.

According to VASEP, Vietnam's shrimp exports to China have decreased since the beginning of the year. The reason is that the strict control policy of coronavirus on imported seafood slows customs clearance at ports in China.

In addition, China's seafood production and export industry has been significantly affected by the Covid-19 pandemic, so it seems that the country also wants to protect domestic seafood products, so it should find ways to limit imports.

Currently, workers at enterprises have been vaccinated with two doses of vaccine. It is expected that Vietnam's shrimp exports this year will reach more than US$3.8 billion, up 2.7% compared to 2020.