However, looking at the monthly export sales, it seems that this market is showing signs of improvement. Vietnam's seafood exports to the US in May reached 151 million USD, the highest level since the beginning of 2023. Although still experiencing a negative growth of 39% compared to the same period last year, this is also the smallest decrease compared to previous months. Both shrimp and pangasius exports had a breakthrough compared to previous months: shrimp reached 68 million USD, and pangasius reached 33 million USD
According to the US Department of Agriculture, by the end of April 2023, the US had imported 924 thousand tons of seafood, valued at over US$8 billion, down 12% in volume and 20% in value over the same period last year. Among the leading exporting countries to this market, Vietnam experienced the most significant decline.
Particularly for shrimp, the US also decreased by 12% in import volume and 29% in value. In which, India alone holds the dominant market share of 35%, Ecuador accounts for 22% while Vietnam only accounts for 7%.
Pangasius fillets from Vietnam experienced the sharpest decline among frozen fish products imported into the US, while cod imports increased significantly by 37% in volume and 64% in value
Besides high inflation, a large inventory contributed to the decline in seafood exports from Vietnam to the US. US importers significantly increased purchases in the first half of 2022 due to stock sentiment and market forecast shortfalls from the previous year. However, high inflation weakened consumption demand, resulting in a high inventory. As a result, US importers require time to sell the existing inventory at lower prices, leading to increased competition and depressed prices for newly imported goods. This sharp drop in export turnover is also attributed to Vietnam.
As the inventory continues to decrease, it is expected that importers will start ordering from Vietnam again during the busy season at the end of the year.
Compiled by Thuy Linh
(seafood.vasep.com.vn) On April 23, 2024, the 30th Global Seafood Exhibition opened at the Fira Gran Via Exhibition Center in Barcelona, Spain. Many seafood processing and exporting units from Vietnam participated in the exhibition. At this year's exhibition, deep-processed seafood products continued to attract significant attention and preference from a large number of participants.
(vasep.com.vn) Through the first quarter of the year, in a context where the shrimp industry still faced many risks, shrimp exporting enterprises still showed efforts and determination in production and business.
(seafood.vasep.com.vn) In the first quarter of this year, Vietnam's shrimp exports reached over 686 million USD, an increase of 14% over the same period in 2023.
Having identified its weakness in 2023, entering the first quarter of 2024, Vietnam's shrimp industry has undergone a clear change, reflected through increases in exports to major markets.
It is necessary to develop more detailed and consistent regulations on seafood production for export in line with the implementation of solutions towards sustainable and responsible fishing practices.
(seafood.vasep.com.vn) After increasing to the highest level in 2022, Canada's tuna imports in 2023 dropped to the lowest level in the past 10 years, reaching 35 thousand tons, down 24% over the year. Canada is currently one of the 15 largest tuna import markets in the world.
(seafood.vasep.com.vn) Chile, one of the countries participating in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), has tended to increase tuna imports from Vietnam in the past 3 years. According to statistics from Vietnam Customs, this South American country imported nearly 3 million USD of tuna products from Vietnam in the first 2 months of 2024, an increase of 58% over the same period in 2023.
Economic and social development activities, overexploitation, pollution, diseases, and climate change have adversely affected the ecological environment, leading to a severe decline or the extinction of many precious indigenous aquatic species.
(seafood.vasep.com.vn) The prices of pangasius fingerlings and raw pangasius in ponds fell in March, following steady increases in the first two months of this year.
(seafood.vasep.com.vn) In February 2024, the average export price of Vietnamese pangasius to markets increased by 4%, although the volume decreased by 40% compared to the previous month.
VASEP - HIỆP HỘI CHẾ BIẾN VÀ XUẤT KHẨU THỦY SẢN VIỆT NAM
Chịu trách nhiệm: Ông Nguyễn Hoài Nam - Phó Tổng thư ký Hiệp hội
Đơn vị vận hành trang tin điện tử: Trung tâm VASEP.PRO
Trưởng Ban Biên tập: Bà Phùng Thị Kim Thu
Giấy phép hoạt động Trang thông tin điện tử tổng hợp số 138/GP-TTĐT, ngày 01/10/2013 của Bộ Thông tin và Truyền thông
Tel: (+84 24) 3.7715055 – (ext.203); email: kimthu@vasep.com.vn
Trụ sở: Số 7 đường Nguyễn Quý Cảnh, Phường An Phú, Quận 2, Tp.Hồ Chí Minh
Tel: (+84) 28.628.10430 - Fax: (+84) 28.628.10437 - Email: vasephcm@vasep.com.vn
VPĐD: số 10, Nguyễn Công Hoan, Ngọc Khánh, Ba Đình, Hà Nội
Tel: (+84 24) 3.7715055 - Fax: (+84 24) 37715084 - Email: vasephn@vasep.com.vn
