According to the Vietnam Association of Seafood Exporters and Producers (VASEP), Australia is the seventh-largest importer of Vietnam’s s shrimp import, accounting for 5% of Vietnam's total shrimp import value in 2021.

In 2022, Vietnam’sshrimp exports to Australia recorded a pretty high growth milestone. Australia has surpassed Britain, reaching the sixth position in Vietnam s shMrimp imports with an increased proportion to 7%.

The main shrimp products exported to Australia in the first four months of this year are frozen white leg shrimp, head and tail removed; frozen headless white leg shrimp; frozen white leg shrimp with head and tail removed;

The enterprises that export the most shrimp to Australia such as Minh Phu Seafood Corp, Cases, Minh Phu-Hau Giang JSC, Viet Shrimp Corporation...

According to data from the World Trade Center, Australia's shrimp imports in the first quarter of 2022 reached nearly 100 million USD, up 18% over the same period last year. From the beginning of 2021 until now, shrimp imports into Australia have recorded continuous growth.              

Among the Top main shrimp suppliers for Australia in the first quarter of 2022, shrimp imports from Vietnam increased while imports from the remaining sources decreased.

Vietnam is the largest shrimp supplier to Australia, accounting for 72% of the total shrimp import value of this market. Thailand ranks second with a market share of 13%, followed by China with 8%.  

The average price of shrimp imports into Australia in the first quarter of 2022 is about 11 USD/kg, while the average import price from Vietnam is 11 USD/kg, Thailand with 9.25 USD/kg, China with 9 .83 USD/kg.

Vietnam and Australia are two member countries of many free trade agreements, including the Regional Comprehensive Economic Partnership (RCEP) - the largest agreement in the world.

Each year Australia consumes about 1 million tons of seafood, but domestic exploitation and production can only meet 230,000-280,000 tons. Currently, Australian people's seafood consumption is about 15 kg/year and tends to increase gradually. Australia's population is currently at 25 million and is expected to grow to 40 million by 2050.               

VASEP also said that with multilateral free trade agreements with Australia, especially the RCEP Agreement that comes into force from the beginning of 2022, Vietnamese shrimp entering the Australian market will have good competitiveness. thanks to the tax reduction scheme. "With the advantage of being the largest shrimp supply to Australia for many years, along with the advantage of the RCEP Agreement, Vietnam's shrimp exports to Australia are expected to continue to grow this year," VASEP said.

Besides the advantages, Vietnamese shrimp products also have to compete with similar products from countries such as Thailand, China, and Indonesia, while these markets are increasing the farming area to increase exports. On the other hand, the brand issue also needs to be focused on because, at present, the brand identity of Vietnam is still very fuzzy.

To promote the growth of shrimp exports to this market, experts recommend that Vietnamese businesses need to ensure biosafety and food safety regulations and labels and certificates of origin. In addition, attention should be paid to the sustainability of fisheries exploitation.

In addition, businesses still have to learn the rules of origin, especially the cumulative rules of origin within the bloc. At the same time, meeting the regulations on sanitary and phytosanitary measures (SPS) and technical barriers to trade (TBT) of importing countries for aquatic products is a weak stage. for Vietnamese seafood.

Source: Aloha Internation Logistics Company.