Shrimp exporters look forward to H2 comeback Vietnam’s shrimp industry has found itself surrounded by difficulties since the beginning of this year due to COVID-19 but many exporters are now looking forward to a comeback in the second half after the pandemic is brought under control globally. According to the Vietnam Association of Seafood Exporters and Producers (VASEP), the country’s shrimp exports grew 2.6 percent to 383 million USD in the first two months of this year. Despite posting a 37.5-percent decline in exports to one of its leading customers – China – which was in a nationwide lockdown, exports to other markets saw significant growth, for example Japan (16.5 percent), the US (22.3 percent), and the Republic of Korea (RoK) (12.4 percent). The sector began feeling the pinch from COVID-19 in March, however, when the pandemic quickly spread throughout the rest of the world. Shrimp export value tumbled 15 percent year-on-year during the month to just 208 million USD, resulting in Q1 shipments falling 4.3 percent from a year earlier. Most of Vietnam’s key markets have been badly hit by COVID-19, such as the EU and the US, where importers are suffering from shrinking sales and high inventories. Authorities… Read full this story
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