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Femme vietnamienne fabriquant des chapeaux coniques

PRODUCTS FROM VIETNAM

This category includes all seafood products sold by processors in Vietnam. Regardless of whether the raw materials are locally sourced or imported.

Latin name : Penaeus monodon

Black tiger shrimp remains a vital component of Vietnam’s seafood export structure. In 2023, its export value reached nearly half a billion dollars, accounting for approximately 14% of the total shrimp exports. Despite a significant decline in Black Tiger exports compared to vannamei since the 2010s, Black Tiger shrimp continues to be a substantial revenue generator for Vietnam’s shrimp industry.

 

The global competition for Vannamei shrimp has intensified in recent years, and Vietnam faces fierce competition on this species. Less affected, Black Tiger shrimp stands as both a profitable export and a symbol of Vietnam’s strength in the shrimp industry. Vietnam holds a strategic position to bolster its Black Tiger shrimp production.

At OFCO, we believe that Vietnam should have interest in regaining some of the market share this species has lost to Vannamei over the last 15 years. In 2010, Vannamei represented only around 20% of all shrimp exports from Vietnam, while black tiger accounted for nearly 70%. The rapid shift from Black Tiger to Vannamei has been interesting for Vietnam but to consolidate better its Industry, Vietnam should find the right balance between both shrimp’s species.

 

Black Tiger exports from Vietnam could benefit from better differentiation and a unique marketing strategy. This includes distinguishing between Black Tigers from extensive mangrove farming, which is an exceptional product with less global competition, and black tigers from intensive pond farming. This approach could enhance the market position and profitability of Vietnam’s black tiger shrimp exports.

 

Vietnam is a significant player in the Black Tiger market. To learn more about this species and to inspect your consignments in Vietnam, reach out to OFCO. We’re here to help you navigate the complexities of sourcing seafood with confidence.