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) Sao Ta (FMC - HoSE), a key subsidiary of PAN Group, has announced impressive business results for February. The company's shrimp production reached 1,913 tons, a 106% increase compared to the same period last year, while agricultural product production reached 67 tons, up 6%.
(seafood.vasep.com.vn) The tuna export market of Vietnam in the first month of 2025 has seen notable fluctuations. Exports to most major markets have decreased compared to the same period in 2024.
The Seafood Expo Global is the largest seafood industry event in the world, truly becoming a professional playground and a strong foundation for connecting the international seafood community. The Seafood Expo Global (SEG) 2025 will take place from May 6 to May 8, 2025 in Barcelona, promising to be an important platform for the global seafood community to meet, trade, and seek business opportunities in seafood industry.
(seafood.vasep.com.vn) According to data from Vietnam Customs, Vietnam’s pangasius exports in January 2025 reached over USD 133 million, marking a 19% decline compared to the same period last year. Notably, the ranking of the top pangasius import markets saw significant adjustments.
(seafood.vasep.com.vn) According to a report by the General Statistics Office, the estimated pangasius output for January 2025 reached 102.5 thousand tons, representing a 6.0% increase compared to the corresponding period of the preceding year. This surge is attributed to the rise in pangasius material prices within the Mekong Delta, which has incentivized aquaculture farmers to expand their stocking activities. Concurrently, this price increase has facilitated processing enterprises to intensify procurement efforts to meet export demands during the early part of the year.
(seafood.vasep.com.vn) Between 2015 and 2024, Vietnamese pangasius exporting enterprises have undergone notable transformations in rankings and experienced fluctuations in developmental strategies, competitive intensity, and business efficacy. This dynamic is clearly illustrated through shifts in export turnover and the proportional contribution to the national pangasius export volume among the Top 5 enterprises.
(seafood.vasep.com.vn) The outlook for Vietnam’s seafood exports remains positive, with a strong focus on maintaining growth in key markets like China and the U.S., while diversifying into new regions. As global trade policies continue to evolve, adaptability and strategic planning will be key to navigating the challenges ahead.
(seafood.vasep.com.vn) Thanks to improved pangasius prices and higher production, Vĩnh Hoàn's after-tax profit in Q4 2024 reached VND 440 billion, a 4.8-fold increase compared to the same period last year.
(seafood.vasep.com.vn) According to data from Vietnam’s Customs, in Q4 2024, Vietnam’s pangasius exports to China & Hong Kong reached USD 163 million, a 17% increase compared to the same period in 2023, with consistent growth across all months. The total value of pangasius exports to China & Hong Kong for 2024 reached USD 581 million, a 1% increase over the previous year.
Vietnam’s seafood exports are projected to maintain strong growth this year, potentially reaching 11 billion USD.
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