Exports of marine finfish grew up

In term of structure of exported seafood products, despite making up a smaller proportion than shrimp and pangasius (two key export items), export value of tuna, marine finfish, crab, swimming crab and other crustacean plays an important role in boosting total seafood export value. Among Vietnam’s key exported seafood products, tuna is the only product that has positive export value.

In July 2012, tuna shipment gained US$57.3 million, up 126.8 percent from that of the same period of 2011, pushing export value in the first 7 months of this year to US$343.3 million, up 48.2 percent from Jan-Jul 2011. The U.S. is the leading importer of Vietnam tuna.

Global demand for consuming tuna will continue to rise in the coming time due to measures of tuna fishing restriction in some waters in the world. Therefore, demand for tuna is surpassing its supply. It is expected that export volume of Vietnam tuna in 2012 may increase twofold over 2011 due to rally in domestic tuna capture production and imported tuna volume for processing in Jan-Jul 2012 as well as the remaining months of 2012.

Seafood export value in July was down slightly over the same period of 2011 and this is the second month, seafood exports fell in the first 7 months of this year. Vietnam seafood exports to 5 main seafood importers in EU fell in this month. Seafood exports to these 5 markets rose in Feb alone, in the other months exports fell.

Thus, in Jan-Jul 2012, exports to EU (the second largest importer of Vietnam seafood) continued to weaken.Seafood export value to EU in Jul 2012 reached US$97.3 million, down 12.8 percent from July 2011. In Jan-Jul 2012, sales to the market reached US$652.9 million, down 12.7 percent.

With continuous growth in seafood imports from Vietnam, in Jan-Jul 2012, the U.S. outstripped EU to rank the top position in seafood imports from Vietnam. In July alone, seafood shipment to the U.S. reached US$115.8 million, up nearly 12 percent over July 2011. This helped year to date revenue from nationwide exports increase by 14 percent to US$690.7 million over the same period of 2011. However, the U.S. import growth rate was lower than that recorded over three recent years.

While tuna sales abroad was on uptrend, other two key items (shrimp and pangasius) saw deeper drop in exports. The decline was also seen in whiteleg shrimp export which always reported high growth rate.

In July, shrimp delivery attained US$200.4 million, showing a 6.8 percent year-on-year reduction, including US$67.8 million from whiteleg shrimp (down 6.9 percent).

This is the first time this species got drop during the first 7 months of 2012. Similarly, compared to July 2011, pangasius exports were down 9.9 percent to US$137.4 million, bringing year to date value of US$991.7 million, up only 1 percent. The fish saw consecutive stumble since early QII/2012. The trend is predicted to remain in following months.

Although Vietnam fishery industry failed to reach set export target in July and in the first 7 months of the year, the national seafood exports is expected to grow in the last two quarters of the year and complete the yearly target of US$6.5 billion.