Jan-Aug 2016: Vietnam seafood exports up 4%

In Jan-Jul 2016, Vietnam seafood exports valued at US$3.76 billion, up 3.8% compared to the same period last year. Of these, sales of main products reported the slight growth: exports of shrimp increased by 4.6%; pangasius with +4.1%; tuna with +0.9%; other finfish with +7.2%; while exports of mollusks dived 5.3% and crabs, other crustaceans down 1.7% from the same period last year.

Up in shrimp exports thanks to higher demand

Vietnam shrimp exports registered gradual increases and reached a peak at US$274 million in July, up 4% year on year. The figure in Jan-Jul 2016 estimated at US$1.6 billion, up 4.6% compared to the same period in 2015. These were driven by a climb in demand and prices of shrimp in the global market due to a slump in supplies.

In the structure of Vietnam shrimp exports in first 7 months of 2016, export value of whiteleg shrimp (taking up 59.7% of total shrimp exports) increased by 7.3%; those of black tiger shrimp slightly rose by 0.9% over the same period last year. According to MARD, in the first half of this year, owing to the unfavorable weather, output of brackish water shrimp in the Mekong delta decreased and price of raw shrimp rose.

Shrimp exports to the U.S, the largest buyer of Vietnam shrimp, accounted for 22.4% of total export value. In Jan-Jul 2016, the exports to this market recorded a year-on-year increase of 16.3%. The import prices of shrimp into the U.S increased due to down in supply from some suppliers to the market such as India, Indonesia, Ecuador, and Thailand. The import demand for black tiger shrimp into the U.S went up while supplies of this item from India and Indonesia dropped.

Vietnam shrimp exports to the EU had more opportunities thanks to a reduction in the inventory in the market. Through July 2016, shrimp exports to the EU hit US$315.9 million, up 6%; those to the China also reached US$249.2 million, up 38% compared to the same period last year.

With the current growth rate, Vietnam shrimp exports in Jan-Aug 2016 estimated at US$1.90 billion, an increase of 4% over the same period last year.

Pangasius sales to US and China rose

As of July 2016, Vietnam pangasius exports reached US$927.8 million, a slight increase of 4.1% compared to the same period in 2015. Of these, sales to the U.S and China showed the good growth.

In the first 7 months of 2016, the exports to the U.S (making up 23% of total pangasius exports) achieved US$213.7 million, up 15.8% year on year. According to the US Department of Commerce, in the first half of 2016, its import volume into the U.S. increased by 13% but the import value decreased compared to the same period last year. Therefore, the average import price of pangasius into the market decreased to US$2.5-2.7 per kilo from US$2.8-3.2 per kilo in the same period last year.

Currently, the import price of frozen pangasius fillets remained relatively low compared with some other whitefish products such as frozen tilapia fillets with US$4.3-4.6/kg; frozen haddock with US$6.3-6.6/kg; fresh/chilled tilapia with US$7.1-7.8/kg.

In Jan-Aug 2016, Vietnam pangasius exports were estimated at US$1.09 billion, up 7% over the same period last year. The figure in the whole year expected to total US$1.65 billion, up 6% year on year.

Tuna exports increased slightly

In Jan-Jul 2016, Vietnam tuna exports hit over US$266 million, up 0.9% compared to the same period last year. In which, sales of fresh/live/frozen tuna continued to take up the largest share. However, exports of these items fell by 9.6% over the same period last year. Meanwhile, those of processed tuna (HS code 16) increased by nearly 12%. Notably, shipments of fresh/live/frozen tuna (except for frozen tuna loins HS code 0304) and canned tuna in the first 7 months of this year went up over the same period last year. Through July 2016, Vietnam tuna exports to main markets posted more positive growth. In particular, exports to the U.S. rose by 0.5%; those to ASEAN up 24.9%, those to China up 81.9%, those to Israel up 10.9% year on year.

While exports of 3 main products (shrimp, pangasius and tuna) posted the slight growth, and exports of other marine finfish increased by 7.2%, those of mollusks (cephalopod and bivalve mollusks) and crabs, other crustaceans decreased by 5.3% and 1.7%, respectively, compared to the same period in 2015.

In Jan-Aug 2016, Vietnam tuna exports estimated at about US$306 million, up 1% over the same period last year.

Written by Ta Ha

Compiled by Dieu Thuy