Over the past decade, Canada was always put into the list of top 10 leading shrimp importers of Vietnam. Despite the modest export turnover, Canada is considered to be a potential market for Vietnam shrimp thanks to its location close to America and its high living standards. Demand for seafood in Canada tend to be on the increase.
Canada was the 6th largest importer of Vietnam shrimp, making up about 4% of the total shrimp exports of Vietnam to the market. In Oct 2016, Vietnam shrimp exports to Canada increased by 2.9% compared to Oct 2015. However, the cumulative figure of the first 10 months of 2016, Vietnam’s shrimp exports to the market reached US$100.4 million; decreased by 13.9% over the same period in 2015.
In 5 years (2010-2015), Vietnam shrimp exports to Canada ranged from US$70.8 -201.6 million. The lowest value was reported in 2012 with nearly US$70 million and the highest in 2014 with US$201.6 million.
Canada mainly imported fresh/live/frozen shrimp (HS 03) from Vietnam to process for domestic consumption and exports. From 2010-2013, Canada mainly imported black tiger shrimp with higher proportion than whiteleg shrimp.
In 2013, among total shrimp exports from Vietnam to Canada, the proportion of black tiger shrimp was 60% while that of whiteleg shrimp was 39%. From 2014 onwards, the export proportion of whiteleg shrimp exceeded black tiger shrimp. By 2015, the proportion of whiteleg shrimp exported to Canada accounted for 58% while black tiger shrimp accounted for 41%. As of Oct 2016, the proportion of whiteleg shrimp and black tiger shrimp sold to this market was 57% and 41%, respectively.
Shrimp imports into Canada in 2016 tend to decrease due to Brexit event and the devaluation of GBP against Canadian dollar. Brexit cut down import demand from the UK and the UK also reduced imports from Canada.
In the Canadian market, Vietnam has to compete with India, Thailand, China. Besides, geographical distance and payment method also are reasons why Vietnam has not made a breakthrough in the market.
By Kim Thu