(seafood.vasep.com.vn) After continuous slump in 2015, Vietnam's seafood exports in the first quarter of 2016 has recovered, reaching US$1.45 billion, up nearly 6.4% compared to the same period last year. In particular, the export of shrimp and pangasius rose 8% and 2.4%, respectively. Exports of squid, octopus and tuna fell 6.2% and 5.5%, while sales of marine fish and other products grew 19.5%.
Stable foreign exchange market, recovering prices in some markets have supported Vietnam shrimp exports in the first 3 months of the year. Concerns about the impact of the final rule on USDA catfish inspection program have pushed up Vietnam's exported pangasius prices in the first three months of this year, so that export value to the U.S. market increased. However, exports of tuna and cephalopods continued negative growths because of supply shortages.
Exports to the major markets were rising, in which sales to the U.S, China and ASEAN had 2 digital growth rates (to the U.S. increased 15%, China up 31% and 18.8% increase to ASEAN). Increases in exports of shrimp, pangasius have made U.S. proportion larger than in the same period a year ago. China and ASEAN became potential markets, while the EU, Japan and South Korea are fading.
In 2016, Vietnam seafood business will continue to face challenges such as reduced prices, non-tariff barriers, anti-dumping tariffs, lack of raw materials... However in an attempt to overcome difficulties, Vietnam seafood businesses hope to reach positive growths compared to 2015.
Seafood exports in the second quarter of 2016 is forecast to increase over the previous year. However, the production and exports of the second half of the year will likely be affected when pangasius, shrimp resources decline.
Report on Vietnam seafood exports in Quarter 1/2016 published on May 6, 2016 and provide businesses and readers with overview on Vietnam seafood production and exports in the first quarter, analysis on import demands of markets; competitiveness of the rival countries and results of production and sales of seafood business, compared with the same period last year. The report also identifies opportunities, challenges and forecasts on seafood production and exports in 2016.
Enterprises and readers who are interested in the report, please contact Ms. Nguyen Thu Trang - Mobile: 0906 151 556 - Email: nguyentrang@vasep.com.vn
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