Sugpo prawn forecasted a key export product in 2010

The Vietnam Association of Seafood Exporters and Processors (VASEP) forecasts sugpo prawn will still be a key export product in 2010 with an expected turnover of USD1.4 billion.

This product now accounts for more than 75% of the total export value. But, the volume of white legged shrimp is expected to increase three fold to 150,000 tonnes in 2010 with a doubled export turnover of USD500 million, making up one third of the country’s shrimp export turnover.

In 2009, Vietnam exported shrimp to 82 markets, of which the top ten markets accounted for more than 80% of both volume and value, such as Japan, the Republic of Korea (RoK), Taiwan, Germany, China, Australia, Canada, England, and Belgium.

The RoK, China, and Australia became potential markets with increased turnovers comprising nearly 20% of the export market share. Germany is also a significant market accounting for 30% of total exports to 10 European countries.

VASEP forecasted the biggest export market for Vietnamese shrimp in 2010 will be Japan, not South Korea as has been in the past.

Tags: Vietnam Seafood, Vietnam seafood exports, Vietnam sugpo prawn