Exporting shrimp to Canada increase nearly 32%

Canada has ranks 6 about importing shrimp in Vietnam, accounting for 5,7% Vietnam total export shrimp to markets. Vietnam export shrimp to Canada in the first 4 months of this year still noted a growth rate with 2 numbers although in the COVID-19 pandemic.

In the first 4 months of this year, exporting shrimp from Vietnam to Canada reach 49,4% million USD, an increase of 31,2% compared with the same last year. April in particular, exporting shrimp to this market increase by nearly 51% reach over 13 million USD.

As of the half of May 2020, exporting shrimp to the Canadian market reach 54,7 million USD, an increase of nearly 32% compared with the same last year.  At the beginning of this year, exporting shrimp to Canada only reduce in January, other months all grow with 2 numbers.

Exporting shrimp from Vietnam to Vietnam continuous growth from 2016 to 2018, light decrease in 2019, and continue to positive growth recovery in several months at the beginning of this year. Canada is a potential market for Vietnam’s shrimp.

In the structure of Vietnamese shrimp products export to Canada, the density of white leg shrimp is increasing. The Canada customer like shrimp products such as peeled white shrimp, remove head; steamed white shrimp with shells removed, keep the tail; frozen white breaded shrimp; Nobashi white leg shrimp; frozen steamed PTO black tiger shrimp; the frozen black tiger PTO shrimp remove head; the fresh frozen EZP black tiger shrimp remove head; peel steamed shrimp, remove the head, and the frozen tail has the sauce.

Canada consumes the warm water shrimp of some ASEAN countries in the context of the decline in the supply of cold-water shrimp. According to a recent survey, shrimp accounting for 50% of total aquatic products imported to Canada and the trend of buy shrimp and process at the home of some households in Canada is increasing. In the first months of this year, Canada is one of the countries affected by the COVID-19 pandemic with 97 thousand infected cases and nearly 8 thousand dead cases. The trend to buy shrimp and process at home is popular in Canada.

According to data from the world trade center, in the first 3 months of this year, importing shrimp of Canada light decrease compared to the same period last year. India, Vietnam, Thailand, China, Ecuador respectively are the biggest supply resource for Canada. About the medium export price, the average price of Vietnamese shrimp is the highest among rival suppliers in the Canadian market. About shrimp export proportion to Canada, in recent years, the proportion shrimp in India and Vietnam increase, at the same time the proportion shrimp in Thailand and China is decreasing. In the first 3 months of this year, Canada also strongly reduce import shrimp from Thailand and China.

The Canadian government has a need to diversify the market, reduce to depends on importing from the USA and Vietnam is one of the countries that the Canadian enterprises concern and want to promote import activities. Canada is the market that has payability for high-value products and an important bridge for Vietnamese businesses to expand the market to other Americas countries.

Importing shrimp of Canada (Sources: ITC, GT: thousand USD)

 

Supply sources

January-March/2019 January-March/2019

Increase/Decrease (%)

The world

113.470 109.117 -3.8

India

33.137 33.742

1.8

Vietnam

33.218 32.154

-3.2

Thailand

12.361 7.596

-38.5

China

18.544 16.151

-12.9

Peru

1.660 4.675

181.6

Ecuador

3.899 4.376 12.2
Indonesia 5.173 3.994

-22.8

America 1.743 2.011

15.4

Argentina

1.126 2.153

91.2

 

The medium import price to Canada from supply sources (Sources: ITC, Price: USD/kg)

Supply source

The first quarter/2019 The second quarter/2019 The third quarter/2019 The fourth quarter The first quarter/2020

The   world

8.88 8.59 8.77 9.15

8.68

India

8.58 8.38 8.36 8.73 8.4

Vietnam

10 10 10 11

10

China

7.58 7.27 7.09 7.24

7.05

Thailand

8.84 9.79 9.49 9.64 9.16

Peru

11 11 11 10

11

Ecuador

6.46 5.49 6 6.11

5.61

Indonesia

10 9.46 8.47 11 12
Argentina 12 11 12 13

13

Kim Thu (vasep.com.vn)

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