Inflation is affecting the import demand, so exports to major markets slowed down in September. Exports to China & Hong Kong brought the highest sales with US$153 million, an increase of 97% over the same period in 2021, 1.4% lower compared to July 2022. Exports to the US decreased 11% year-on-year to $140 million, while exports to the EU and South Korea maintained an increase of 31% and 19% respectively.
In September, exports of main aquatic products all increased compared to the same period in 2021. In which, pangasius still maintained the highest growth rate, increasing by 97% to 161 million USD. Inflation reduces the demand for many aquatic products, but pangasius is still an advantageous commodity because of its affordable price. Shrimp exports in September reached nearly 350 million USD, up 13%, the lowest increase in the main products. The lack of raw shrimp while the demand in markets is slowing down because of price inflation caused shrimp exports to decrease compared to the previous month. Exports of seafood products such as tuna increased by 44%, squid and octopus by 40% and other marine fish by 55% in September 2022.
Pangasius is the outstanding seafood product with the export value of nearly $2 billion (by the end of September 2022)
By the end of September 2022, shrimp exports had brought in nearly $3.4 billion, up 23% over the same period in 2021. Pangasius also earned nearly $2 billion, an increase of 82% of seafood products. Marine products exports reached nearly $3.2 billion, up 33%.
In the first 9 months of the year, seafood exports to the EU exceeded 1 billion USD, up 41% over the same period. The US is still the market with the highest proportion with nearly 1.8 billion USD, up 22%. Exports to the CPTPP countries reached nearly 2.2 billion USD, up 41%. China is still the market with the highest growth rate of 76% reaching US$1.35 billion in the first 3 quarters of the year. Although China is still an unpredictable market, this is still the target market of Vietnamese seafood enterprises in the last months of the year because of large demand and geographical factors.
With the above export result, surely by the end of November, Vietnam's seafood could reach the 10 billion USD mark as expected by the whole industry as well as the target set by the Ministry of Agriculture.
Compiled by Thuy Linh
(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.
(seafood.vasep.com.vn) There was a 6% decline in Vietnam's pangasius exports to Brazil in February 2024 compared to the same period in 2023, with the total value reaching 6 million USD.
(vasep.com.vn) In the first two months of 2024, Poland—which ranks as Vietnam's fourth-largest EU supplier of tuna—became a noteworthy market. Vietnam's tuna exports value to Poland increased by 786% in comparison to the same period last year, totaling over $2 million USD and contributing about 2% of the country's overall tuna exports revenue.
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