July 1, 2020

Vietnam’s shrimp exports to Canada have seen a consecutive increase since 2016, with a slight decline in 2019, and a recovery earlier this year. In the first four months of 2020, Vietnam took in $49.4 million from exporting shrimps to Canada, up 31% from last year. Growth in Sales of Shrimps to Canada Vietnam has seen a growth in sales of shrimps to Canada in the first four months of 2020. The export value reached $13 million in April alone, up nearly 51%. As of mid-May 2020, shrimp exports to Canada reached $54.7 million, up nearly 32% compared to the same period last year, resulting in a double-digit increase in the first four months, excluding January with a decrease. Canada – A Potential Destination for Vietnamese Shrimps Canada is given the rank of the sixth biggest importer of Vietnamese shrimps, accounting for 5.7% of a total of Vietnam’s shrimp exports to the world. Vietnam has seen a consecutive increase in sales of shrimps to Canada since 2016, experienced only a slight decline in 2019 and made recovery with growth earlier this year. Canada is considered a potential destination of Vietnamese shrimps. Increase in Density of White Leg Shrimps Going to Canada Among shrimp products going to Canada, there’s an increase in density of white leg shrimps. Canada is consuming a large amount of warm water shrimps from Southeast Asia regardless of a slump in cold water shrimp supply. Vietnam Offers the Highest Prices to Canada According to statistics by the World Trade Center, Canada reduced its purchases of shrimp in the first three months of 2020. India, Vietnam, Thailand, China, and Ecuador are the biggest buyers of Vietnamese shrimp respectively. Among Canada’s shrimp suppliers, Vietnam offers the highest prices. As for the density of shrimps going to Canada, India and Vietnam have been increasing their densities while Thailand and China have seen consecutive decline. Canada reduced their purchases of shrimps from Thailand and China in the first three months of this year.

Shrimp exports in Cà Mau Province, Vietnam are bouncing back after the COVID-19 pandemic caused a significant drop in export turnover during the first four months of the year. The province’s shrimp export turnover saw a 20 percent decline year-on-year due to the pandemic. However, the shrimp export turnover is now only 10 percent lower compared to the same period last year. Shrimp Exports and Prices in Ca Mau Province Recovering As shrimp exports surge, the price of shrimp material is also increasing. For example, whiteleg shrimp size 100 pcs per kilo is being sold for VNĐ86,000 (US$3.7) per kilo, up 20 percent compared to mid-March. The price of giant tiger shrimp, while still lower than before COVID-19, has also increased by VNĐ10,000 – 15,000 per kilo compared to mid-March. Shrimp Exports Surge and Prices Rise Several markets for shrimp, such as China, South Korea, Japan, and some European countries, are relaxing their COVID-19 prevention measures and resuming their imports. Dương Vũ Nam, deputy director of the provincial Department of Industry and Trade, said that this is contributing to the recovery of shrimp exports and prices. Several Markets Relaxing Covid-19 Measures and Resuming Imports To facilitate export growth quickly and sustainably, Nguyễn Tiến Hải, chairman of the People’s Committee, has instructed departments and authorities to push for more productive farming models and carry out demand and market price forecasts to help farmers with production. Businesses are encouraged to resume trade activities quickly with the countries that have controlled the pandemic early and find new markets as opposed to waiting for existing ones where COVID-19 is still active. Efforts to Facilitate Export Growth and Find New Markets Cà Mau has one of the largest aquaculture farming areas in Vietnam, at around 302,000 hectares, and exports nearly $1.2 billion worth of shrimp annually.