Japan, the US, China and South Korea are the top 4 import markets of Vietnamese seafood, accounting for 55.9% of the total seafood export value. The markets with strong seafood export value are Mexico up 21.3%; Taiwan increased by 16.6%; Malaysia increased by 13.2% and Japan increased by 11%.
The Department of Agricultural Product Processing and Development of Agricultural Products said that in the first 6 months of 2019, Vietnam's largest shrimp export market was EU, reaching more than USD 300 million, down 25.9% over the same period in 2018 However, in the coming time, Vietnam's shrimp industry is expected to recover its export to this market thanks to the positive impact of the EU – Vietnam Free Trade Agreement (EVFTA) signed in Hanoi on June 30, 2019 and is expected to be approved by EU member states to officially take effect in the coming time.
Accordingly, import tax on raw shrimp code HS 03061100 from Vietnam to the EU will decrease from the current level of 12.5% to 0%; shrimp product tax code HS 03061710 remains 0%; shrimp code HS 03061791, 03061792, 03061793, 03061799 will reduce taxes from the current 12% to 0%; Shrimp code HS 03061794 will be reduced from the current 18% to 0% after 5 years from the date of entry into force of the Agreement. For processed shrimp products, shrimp code HS 16052110 from the current 20% will be adjusted to 0% after 7 years from the entry into force of the Agreement; Shrimp code HS 16052190 (other shrimp) from 20% to 0% after 7 years since the Agreement took effect.
According to the latest figures of the National Marine Fisheries Service (NMFS), imports of frozen tra fish from the US in May 2019, though slightly increased in volume, declined in value compared to the previous month. The average price reached 3.82 USD / kg, down from the previous month of 4.31 USD / kg. The average price of US shrimp imports in May 2019 reached 8.25 USD / kg, equivalent to the level achieved last month.
In the domestic market, the wholesale price of raw tra fish in the Mekong Delta region in the past month continued the downward trend of about 1,000 VND / kg compared to the previous month, from 21,000 to 22,000 VND / kg for first class type (800-900g / fish), while the farm gate price is only in the range of 20,000-21,000 VND / kg. Harvesting of enterprises is low, mainly catching fish from ponds and restricting buying outside.
Raw shrimp prices in July 2019 tended to fall sharply with both black tiger shrimp and white leg shrimp due to low export orders. Specifically, in Bac Lieu province, the price of black tiger prawn with the size of 20 pieces / kg decreased 75,000 VND compared to the previous month to 165,000 VND / kg; size 30 pieces / kg decreased 65,000 VND to 145,000 VND / kg; 40 pieces reduced 25,000 VND to 125,000 VND / kg. The price of frozen shrimp also decreased in almost all sizes, namely: size 60 pieces / kg decreased 7,000 VND to 88,000 VND / kg; size of 70 pieces / kg decreases 1,000 VND to 84,000 VND / kg; size of 100 / kg decreases 2,000 VND to 70,000 VND / kg.