Vietnam shrimp exports hit $2.35bn in January-June

In June alone, shrimp exports reached around $458 million, up 24 percent from the same month last year, VASEP statistics showed.

Mainland China and Hong Kong were the biggest contributors to shrimp export growth in the first six months, with a combined export turnover of around $845 million, or more than one-third of Vietnam's total shrimp export earnings of $2.35 billion in the period.

In particular, exports to China surged 47 percent year on year, underscoring the growing importance of the Asian market to Vietnam's shrimp industry.

Japan, South Korea, and Australia also maintained solid demand for Vietnamese shrimp.

Meanwhile, exports to the European Union increased only slightly, suggesting that demand in the market has yet to show a clear recovery.

In the U.S. market, shrimp exports reached around $62 million in June, up 32 percent year on year.

However, shipments to the U.S. in the first half totaled only around $290 million, down 15 percent from the same period last year.

VASEP attributed part of the June increase in shrimp exports to the U.S. to businesses and importers accelerating shipments ahead of potential changes in U.S. tariff policies.

The association therefore warned that the recent improvement in shrimp exports to the U.S. could be short-lived.

Vietnamese shrimp exporters continue to face pressure in the U.S. market from anti-dumping and countervailing duties, traceability requirements, and intense competition from major suppliers, VASEP said.

High logistics costs are another challenge.

According to international logistics platform Phaata, freight rates in mid-July for a 40-foot container from Ho Chi Minh City to the U.S. East Coast remained at nearly $8,920, while rates to the West Coast were around $6,487.

By comparison, shipping to China, Japan, and South Korea involves lower costs, shorter delivery times, and faster capital turnover.

These advantages have made Asian markets an increasingly important source of growth for Vietnam's shrimp industry.

However, the industry's growing dependence on China also carries risks, as demand, quarantine policies, and competition in the market can change rapidly.