CHINA SPENDS OVER US$1 BILLION ON SHRIMP IMPORTS FROM VIETNAM IN JAN-OCT

Workers process shrimp at a facility in Vietnam – PHOTO: NAM BINH

HCMC – China has become Vietnam’s largest shrimp buyer, with more than US$1.1 billion worth of the product imported in the first 10 months of the year, up 64% year-on-year, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).

China was the fastest-growing market during the period and a key driver behind the 22% spike in Vietnam’s shrimp exports to US$3.9 billion.

Shrimp exports in October reached US$498 million, the highest monthly level this year. Shipments to mainland China and Hong Kong amounted to US$140 million, reflecting strong demand for live, fresh and frozen shrimp products.

China is accelerating purchases to meet domestic consumption and to supply its processing sector for re-export. Vietnam’s proximity, lower logistics costs, and stable supply have strengthened the competitiveness of Vietnamese shrimp.

Alongside China, CPTPP markets contributed more than US$1 billion in export value over the 10-month period. Japan, Canada, and Australia maintained steady demand, helping Vietnamese producers balance market risks as the U.S. increases trade defense measures.

In the U.S. market, Vietnam earned US$702 million in the first 10 months of the year, up 9%. Despite pricing pressure from Ecuador and India, Vietnam’s October exports to the U.S. reached US$114 million, indicating sustained demand. Taiwan’s imports in October surged nearly 80%, signaling expanding opportunities in the Asia-Pacific region.

White-leg shrimp continued to dominate, generating US$2.5 billion, or nearly 65% of total export value. Competitive pricing, consistent supply, and broad market suitability supported strong growth in this segment.

Black tiger shrimp brought in US$385 million, driven by demand from Japan and niche segments in China such as eco-certified products and larger-size shrimp. Other processed shrimp products contributed US$991 million as companies increased value-added production to improve margins and better utilize processing capacity.

Despite the positive performance, the shrimp sector is expected to face a slowdown in the fourth quarter due to U.S. tariffs and trade defense measures. These could affect competitiveness, pricing, and contract negotiations for new shipments.

However, strong demand in Asia—particularly from China, which has already spent more than US$1 billion on Vietnamese shrimp—continues to support a positive outlook for the full year. Industry experts say maintaining quality, expanding high-value product lines, and diversifying markets will help mitigate risks in the remaining months.

Source: The Saigon Times