Taiwan emerges as largest consumer of Vietnamese shrimp

Vietnam became the second largest exporter among top suppliers of shrimp to Taiwan (China) during the first nine months of the year, according to statistics released by the International Trade Centre.

Shrimp exports to the Taiwanese market enjoyed a surge of 13.9 per cent to US$41.9 million in comparison to the same period last year. This represents the most robust growth among the top 10 major importers of Vietnamese shrimp products.

This boost comes as Taiwanese consumers continue to favour the country’s black tiger shrimp, with fresh frozen black tiger shrimp being particularly popular and buyers being able to purchase the product for between US$6 and US$8 per kilo.

In addition, Vietnamese products such as frozen white-leg shrimp and other aquatic species have also become well received import items.

During the first half of this year, both Vietnam and the Central American nation of Honduras experienced rapid growth in shrimp exports to Taiwan. In contrast, Thailand’s shrimp exports to the market plummeted.

Despite this positive growth, Vietnamese shrimp exports to Taiwan have not increased in line with expectations due to a high import tax of about 20 per cent imposed on products.

Furthermore, the Taiwanese market has also applied strict regulations with regard to food safety and hygiene standards.

Taiwan remains a strong market for local shrimp exports due to consumers having a diverse taste, the presence of a large population of overseas Vietnamese, whilst the demand for shrimp in the Taiwanese market has also  witnessed an upward trend in recent years.

In early October, the Taiwan Food and Drug Administration unveiled a list of 638 Vietnamese seafood companies that have been granted permission to export to the market.