Viet Nam's shrimp export turnover was expected to reach $3.3 billion this year. — Photo fistenet.gov.vn

HA NOI (Biz Hub) — Vietnamese enterprises should foster their shrimp exports to the United Kingdom as exports to other markets were tending to slow down, the Viet Nam Association of Seafood Exporters and Producers (Vasep) has suggested.

According to Vasep, the UK demand of warm-water shrimp would continue to rise in the time to come. That would result in many opportunities for Vietnamese firms, who had advantages in producing value-added shrimp products, to expand their market share. Vietnamese shrimp exports to the UK have enjoyed remarkable growth in recent months, Vasep said.

The association cited statistics from the General Department of Customs showing that exports of Vietnamese shrimp to the market reached US$17.3 million in the first two months, up 38 per cent year-on-year. In that period, the UK accounted for 4.6 per cent of Viet Nam's total shrimp export turnover. It also surpassed Germany to become Viet Nam's biggest shrimp importer in the EU.

The impressive shrimp exports to the UK was attributed to the market's greater demand of warm-water shrimp and the competitive price of exported Vietnamese shrimp.

Baocongthuong.com.vn quoted statistics from the International Trade Centre as saying that the price of Vietnamese shrimp in this market was about $11.5 per kilo, lower than that of Canada, Thailand and Bangladesh – the UK's other main shrimp suppliers.

Viet Nam's shrimp export turnover was expected to reach $3.3 billion this year, a year-on-year increase of 12 per cent. — VNS