A few notes when exporting shrimp to the UK market

The UK is a notable market for Vietnamese shrimp exporters in the EU, so VASEP recommends that businesses need to provide products with good prices, the ability to meet regular supplies and the ability to improve, develop products to catch people’s tastes.

Vietnam Association of Seafood Exporters and Producers (VASEP) said that Vietnam’s shrimp export to the UK have always achieved positive growth rates since 2012 so far because the UK has boosted the import of warm water shrimp -reasonable price products able to replace cold water shrimp.

In the EU, the UK is the largest shrimp import market of Vietnam, accounting for nearly 36% of Vietnam’s total shrimp export to the EU and accounting for 6.8% of Vietnam’s total  shrimp export to all markets. In the fourth quarter of 2018, shrimp export to the UK dropped by 14%, reached 62.6 million USD due to the impact of Brexit event in the UK. This event somewhat disturbed the situation of import and export of goods and demand for seafood consumption in the UK. For the whole year of 2018, Vietnam’s shrimp export to the UK still increased positively to 238.4 million USD. In January 2019, Vietnam shrimp export to the UK reached over 16 million USD, decreased by 4.1% compared to the same period in 2018.

In the last 4 years, the UK is a remarkable market for many Vietnamese shrimp exporters. From 2014 to the present, the UK has always been in the 1st and 2nd position on Vietnamese shrimp import. In the period of 2014-2017, Vietnam’s shrimp export to the UK grew continuously, from 114.6 million USD in 2014 to 210.6 million USD in 2017, increased nearly 84%.

It can be said that the UK is a remarkable market of Vietnamese shrimp exporters in the EU because enterprises exporting to this market are entitled to GSP tax incentives like the general rules for exporting to the EU. Processed shrimp products originating from Vietnam in the UK market have a higher advantage in price and quality compared to Indian and Bangladeshi products. Fresh, frozen fresh white leg shrimp size 13/15, 16/20 exported from Vietnam to the UK cost from 6.67-8.73 USD / kg.

VASEP recommends that the UK is a market with much competition from rival suppliers, so businesses need to understand the market to make products suitable to consumers’ tastes here. In order to succeed in the UK market, businesses need to provide products with good prices, ability to meet regular supplies and the ability to improve, develop product to catch the tastes of people.

Ngoc Anh

According to the Economic Pace

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