The most imported and consumed fresh seafood species in China include: salmon, shrimp, flounder, bluefin tuna, eel, pomfret, mussels, oysters, jack fish, abalone, yellow croaker , sea cucumbers, clams... Among them, the largest proportion is salmon with nearly 56 thousand tons, accounting for 65%.
In addition, China also imported a significant amount of ornamental fish, with 281 thousand tons, an increase of 60%. In general, this market consumes more fresh/live fish than shrimp, crab and mollusks...
Leading among fresh/live seafood suppliers to China is Norway with its strength in fresh/chilled salmon. Chile ranks 2nd, and is also in the top 2 salmon suppliers to China. Other top suppliers include Myanmar, Australia, Philippines, Bangladesh, Faroes Islands, England, Japan...
Japan supplies flounder, bluefin tuna, mackerel, mackerel, plaice, jack fish, oysters, scallops, and fresh/live sea cucumbers to the Chinese market. China has officially banned Japanese seafood after Japan released radioactive water into the sea since the end of August. This has eliminated a significant portion of fresh/live seafood supply from Japan, so China will have to increase imports from other sources of supply. At the same time, after this event, China increasingly tightened inspection of the origin of imported seafood products.
Vietnam only accounts for a very modest market share, 0.2% of China's total fresh/live seafood import volume in the first 8 months of this year. However, compared to the same period in 2022, import volume from Vietnam increased dramatically by 446% and average price also increased by 184%. Vietnam's live aquatic species exported to China are mainly ornamental fish, grouper, lobster, tiger shrimp...
Shanghai, Guangdong, and Yunnan are the top 3 provinces that import the most fresh/live aquatic products, accounting for 39%, 16% and 11% of China's total import volume in the first 8 months of the year.
Except for the period of restriction due to the Covid epidemic, China has always been a large and potential seafood consumption market because of its large population and increasing per capita income. Per capita seafood consumption in China has increased tenfold in 40 years: from 5 kg in 1980 to 14.4 kg in 1993, 37.9 kg in 2013 and 54 kg in 2020. Seafood demand concentrated mainly in big cities, where on average people buy seafood 3-4 times/month, especially in Shanghai people buy seafood on average 11 times/month.
China's economic growth has reached a rate of 6.3% in the second quarter of 2023 and forecasts for GDP growth in 2023 and 2024 are quite optimistic, increasing by 5.1% and 4.6% respectively. Those indicators show that in the coming time, China will certainly be the target market of many seafood exporting countries, including Vietnam. Competition in this market will become increasingly hot, but with geographical advantage, Vietnamese seafood can gain a higher market share in the fresh/live/chilled seafood segment for domestic consumption in China. At the same time, it is also necessary to diversify processed products for the new consumption trends of modern youth in China.
(seafood.vasep.com.vn) According to statistics from Vietnam Customs, Vietnam's crab export value in March 2024 reached more than 18 million USD, an increase of 66% over the same period last year. Cumulatively, in the first 3 months of the year, export turnover reached more than 52 million USD, up 75% over the same period.
Vietnam's pangasius exports to Brazil reached nearly USD 28 million in the first quarter of 2024, surging by 44% compared to the same period in 2023.
(vasep.com.vn) According to Vinh Long Statistics Department, the whole province currently has 2,119 hectares of aquaculture area, an increase of 1.03% (equivalent to an increase of 21.62 hectares) over the same period last year; Of which the industrial pangasius farming area is 370.8 hectares, an increase of 0.12% or an increase of 0.42 hectares.
(seafood.vasep.com.vn) 2023 was an unsuccessful year not only for Vietnamese but also for Thailand tuna exporters in the Middle East market. Thailand's tuna exports to this market decreased by 21% in value and 27% in volume compared to 2022. Therefore, the Middle East dropped to second position among Thailand's export markets after the US, accounting for 22% of total export turnover in 2023.
Competent ministries, sectors and localities should continue efforts to lift the European Commission’s “yellow card” against the Vietnamese seafood products for illegal, unreported and unregulated (IUU) fishing, as an inspection team of the commission will visit Vietnam soon, Minister of Agriculture and Rural Development Le Minh Hoan.
(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.
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