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) According to data from Vietnam Customs, in March 2024, Vietnamese pangasius export turnover to markets reached 156 million USD, down 14% over the same period. Vietnam pangasius export value in QI/2024 reached 411 million USD, down 3% compared to QI/2023.
(vasep.com.vn) According to data from the Department of Fisheries, as of March 20, 2024, the shrimp farming area reached about 348,670 hectares, including 334,799 hectares of black tiger prawn farming area and 13,871 hectares of white leg shrimp farming area.
(seafood.vasep.com.vn) Vietnam's tuna exports reached around $84 million in March 2024, a 17% rise. Vietnam's total tuna export revenue for the first three months of 2024 was $215 million, up 19% from the same time in 2023 but down 17% from 2022. It is anticipated that tuna exports may miss the billion-dollar mark as in 2022 at this rate and the difficulties the business faces.
Vietnam raked in over US$200 million from exporting tuna to 86 markets worldwide during the first quarter of the year, representing a rise of 19% against the same period from last year.
Vietnam’s pangasius export to the United Arab Emirates (UAE) reached more than 7 million USD in the first quarter of this year, a rise of 67% against the same period last year. UAE mainly imported frozen fillets from Vietnam.
(seafood.vasep.com.vn) According to data from General Department of Vietnam Customs, the UK imported nearly $3 million worth of pangasius from Vietnam in the first half of March 2024. Cumulative pangasius exports to this market reached $12 million as of March 15, 2024, down 3% from the same period last year.
Total export revenue from agro-forestry-fisheries products in the first three months of this year is estimated at 13.53 billion USD, up 21.8% over the same period last year; and this results in a trade surplus of 3.36 billion USD, a rise of 96.5%, according to the Ministry of Agriculture and Rural Development (MARD).
The southernmost locality is developing shrimp farming models that generate large outputs but are environment-friendly.
(seafood.vasep.com.vn) An Giang province's aquaculture output is predicted to reach 172.3 thousand tons in the first quarter of 2024, up 6.37% (+10.3 thousand tons) from the same time the previous year.
(seafood.vasep.com.vn) According to data from Vietnam Customs, as of March 15, 2024, Vietnam's cephalopod exports reached more than 109 million USD, a slight decrease of 3% compared to the same period in 2023. In the first quarter of this year, Vietnam's cephalopod exports are expected to reach about 136 million USD, down 2% over the same period last year.
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