Vietnamese shrimp accounts for over half of Korea’s market share

According to Korean Customs, in March 2022, Vietnam is the largest shrimp supplier to Korea, accounting for 52.9% in quantity, reaching 4.8 thousand tons, worth $37.6 million, up 5.3% in quantity and 7.3% in value over the same period in 2021.

Generally, over the first 3 months of 2022, Vietnam's shrimp import into Korea reached 12 thousand tons, worth $95.5 million, up 18.6% in quantity and 28.5% in value over the same period last in 2021.

Vietnam's shrimp market share in Korea's total imports increased from 49.1% over the first three months of 2021, to 51.04% over the first three months of 2022.

Over the first 3 months of 2022, Korea's shrimp imports reached 23.5 thousand tons, worth $190.04 million, up 14.2% in quantity and 24.1% in value over the same period in 2021.

Notably, Korea's shrimp imports from Peru in April and the first four months of 2022 increased sharply compared to the same period in 2021, making this country the second largest shrimp supplier to Korea. While Korea's shrimp imports from Thailand, Ecuador and India decreased compared to the same period in 2021.