Vietnam’s tilapia exports to other markets have shown a downward trend in the past 5 years. In 2023, Vietnam's tilapia exports reached over 6 million USD, down 42% compared to 2022 and down 70% compared to 2019.
The United States has been the largest consumer of Vietnamese tilapia for the past 4 years since 2019. However, in 2023, tilapia exports to the US fell sharply and reached only nearly 1 million USD, down 71% compared to 2022 and down 75% compared to 2019. In the past 5 years, the export value of tilapia to the US recorded the highest value of over 7 million USD in 2021, an increase of 2.5 times compared to 2020.
Besides the US, other countries such as the Netherlands, Italy, Japan, South Korea, and Thailand are the largest importers of tilapia from Vietnam. In 2023, tilapia exports reached over 6 million USD. The EU was the largest consumer market, with 2 million USD, the Netherlands accounted for nearly half of total Vietnamese tilapia exports to the EU. Following was the US.
Brazil recently announced a ban on imports of tilapia products from Vietnam due to concerns about a virus. However, the export value of Vietnamese tilapia to Brazil is not much. According to statistics from Vietnam Customs, tilapia exports to Brazil in the past 5 years have been almost non-existent. Brazil mainly imports basa fish from Vietnam. Up to 90% of the seafood that this country buys from Vietnam is basa fish. Therefore, the impact of Brazil's decision to ban imports of Vietnamese tilapia does not affect Vietnamese businesses too much. However, this can be seen as an initial barrier for Vietnamese tilapia products, and could lead to other seafood products in the Brazilian market.
After the ban on importing tilapia to this South American country, businesses can switch markets. Frozen tilapia is a popular product with American consumers. However, Vietnamese tilapia in the US finds it difficult to compete with Chinese tilapia, as the average price in Vietnam is much higher despite the downward trend. China is the world's largest supplier of tilapia and also the largest supplier to the US.
(seafood.vasep.com.vn) Vietnam's total fishery production in the first 10 months of 2024 is estimated at 7,889.8 thousand tons, a 2.5% increase compared to the same period last year. Aquaculture contributed approximately 4,612.5 thousand tons, while capture fisheries accounted for 3,277.3 thousand tons.
(seafood.vasep.com.vn) Ms. To Thi Tuong Lan, Deputy Secretary General of the Vietnam Association of Seafood Exporters and Producers (VASEP), forecasts that pangasius export turnover could reach the target of USD2 billion in 2024. However, the industry will still face numerous challenges in the coming year.
(seafood.vasep.com.vn) Vinh Hoan Corporation has recently announced its business results for October, reporting over VND 1,200 billion in revenue, a 60% increase compared to the same period last year.
(seafood.vasep.com.vn) According to statistics from Vietnam Customs, Vietnam's tuna exports in October reached nearly $93 million, marking a 22% increase compared to the same period in 2023. In the first ten months of 2024, the total export value exceeded $821 million, up 18% compared to the same period last year.
(seafood.vasep.com.vn) According to Vietnam Customs data, pangasius exports to the EU reached USD 7 million in the first half of October 2024, marking a 27% year-on-year increase. As of October 15, 2024, cumulative exports to the EU totaled over USD 134 million, reflecting a slight 0.01% decrease compared to the same period last year.
(seafood.vasep.com.vn) According to data from Vietnam Customs, pangasius export revenue in October 2024 reached nearly $202 million, a 17% increase compared to October 2023. The cumulative export value for the first ten months of the year totaled $1.7 billion, marking a 9% year-on-year increase.
(seafood.vasep.com.vn) Vietnam's exports of crabs and other crustaceans continued to see high growth in September 2024, with a 54% increase compared to the same period in 2023. In the first nine months of the year, exports of crabs and other crustaceans reached over USD 228 million, a 67% increase year-over-year.
(seafood.vasep.com.vn) Vietnam’s shrimp exports reached $394 million in October 2024, up 24%. In the first ten months of this year, shrimp exports brought in $3.2 billion, up 13% compared to the same period last year. Exports to all major markets recorded double-digit growth in October.
International Development and Investment Corporation (IDI), a key member of the Sao Mai Group, has consistently ranked among the largest seafood producers and exporters in Vietnam.
(seafood.vasep.com.vn) In recent years, the US has consistently been Vietnam’s largest seafood export market. Over the past five years, seafood export turnover to the US has ranged from 1.5 billion USD to 2.1 billion USD anually. Despite facing strict protective policies such as anti-dumping and countervailing duties, U.S. market demand remains high, and the quality of Vietnamese seafood continues to improve, helping to maintain and expand its position in this market.
VASEP - HIỆP HỘI CHẾ BIẾN VÀ XUẤT KHẨU THỦY SẢN VIỆT NAM
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