Illustrative image. (Photo: nongnghiep.vn)
According to ITC data, Australia’s import of Vietnamese shrimp increased by 51% in the first seven months of 2022. Processed products accounted for 40% of Vietnamese shrimp shipment to the Australian market.
The ITC said due to China’s Zero-Covid policy, China's shrimp production faced difficulties, and output decreased, causing the country's shrimp exports to Australia to fall.
Moreover, Australian customers favour processed shrimp products while Thailand's processing level is not as high as Vietnam's.
Australia's total shrimp imports in the first seven months of this year were valued at nearly US$234 million, up 29% over the same period last year.
