Vietnam enjoys strong growth in shrimp exports to RoK
Vietnam has so far this year exported 243.2 million USD worth of shrimp to the Republic of Korea (RoK), a surge of 29.8 percent year on year, reported the Vietnam Association of Seafood Exporters and Producers.
Hanoi (VNA) – Vietnam has so far this year exported 243.2million USD worth of shrimp to the Republic of Korea (RoK), a surge of 29.8percent year on year, reported the Vietnam Association of Seafood Exporters andProducers.
The RoK is currently the fifth largest market of Vietnamese shrimp afterthe EU, Japan, China and the US.
In 2007-2016, Vietnam’s shrimp exports to the RoK enjoyed strong growth,with the country a stable market where shrimp are sold at a high price.
The Ministry of Agriculture and Rural Development views the RoK as apromising market with opportunities for domestic shrimp exporters amidst difficultiesin traditional markets such as the US and the EU.-VNA
Vietnam’s shrimp exports to the EU market reached 483.6 million USD in the first eight months of this year, a rise of 30 percent over the same period last year, making the EU the top market of Vietnamese shrimp, the place which was earlier held by Japan.
Vietnam will not see high year-end growth in exports of tra fish and shrimp to US by this year because trade barriers have reduced their value, according to the national seafood association.
Despite a rebound in shrimp exports to the EU in recent months, Vietnam’s shrimp sector is facing a fierce competition in the market, requiring domestic exporters to continue improving their product quality and competitiveness.
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Illustrative photo (Source: VNA) 
