Vietnamese shrimp exports to the UK maintains market share
Local shrimp exports to the UK market recorded a surge of 15% by mid-September to reach a figure of US$161.2 million against the same period last year, according to data released by the Vietnam Association of Seafood Exporters and Producers (VASEP).
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Recent years have seen the country become the largest shrimp provider to the UK, accounting for 24% of their total shrimp import value.
Since the beginning of the year, shrimp exports to the fastidious market have witnessed a number of positive developments, with June seeing the highest level of export growth at 54% in comparison to June of last year.
At present, the UK is the sixth-largest importer of Vietnamese shrimp, making up 6.5% of the country’s total shrimp export value.
Throughout the 2015 to 2019 period, domestic shrimp exports to the UK market enjoyed constant growth, rising from approximately US$130 million in 2015 to US$202.5 million in 2019, representing an increase of 56%.
Most notably, key shrimp exports to the UK market include frozen white-leg shrimp, boiled white-leg shrimp, in addition to breaded tempura white leg shrimp.
Moving forward, Vietnamese shrimp exports to this market during the remainder of the year are expected to benefit from tax incentives, similar to other export items being shipped to the EU.
Furthermore, processed shrimp products from the nation enjoy greater advantages in the UK market with regard to their selling price and quality when compared to those from India and Bangladesh.
Local businesses have been urged to provide high-quality products that come up to environmental standards set by UK importers while striving to strengthen their capability to supply stable source of goods in an effort to meet the tastes of consumers in this demanding market.
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(Source: VOV)
