Vietnam shrimp exports to Canada reached 23.8 million USD

Vietnam shrimp exports to Canada reached 23.8 million USD

For years, Canada has always been named among the top 10 shrimp import markets of Vietnam. Although exporting shrimp to this market is not strong and continuous, Canada is considered a potential market for Vietnamese shrimp because its position is close to the US and the people here have a high standard of living.

Canada is currently the 6th largest shrimp import market of Vietnam and accounts for nearly 5% of Vietnam’s total shrimp exports to markets.

In 10 years (2007-2016), exporting Vietnamese shrimp to Canada was unstable, ranging from 65.5 to 201.5 million USD. However, from 2016 to 2018, Vietnam shrimp exports to Canada continued to grow from 122.5 million USD in 2016 to 161.6 million USD in 2018.

As of March 15, 2019, Vietnam shrimp exports to Canada reached 23.8 million USD, up 7.5% over the same period in 2018.

 

In the structure of Vietnamese shrimp products exported to Canada, the proportion of whiteleg shrimp is increasing. Canadian consumers prefer processed shrimp products and popular products in the Canadian market, which are raw shrimp, shelled.

 

In recent years, Canada consumed a lot of warm water shrimp of Southeast Asian countries in the context of declining supply of cold water shrimp. Recent reports expect coldwater shrimp production in Canada to drop sharply in 2019 as shrimp biomass surveys at Canadian fishing grounds show poor results. This can be considered a favorable factor for exporting Vietnamese shrimp to Canada.

 

According to the World Trade Center (ITC), Canada’s shrimp imports in 2018 reached 513.3 million USD, down 5% compared to 2017. Vietnam is still the largest shrimp supply for this market, accounting for 30.3 % market share in Canada. India and China ranked second and third with 26.3% and 16.9% of the market, respectively.

 

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