Jan-Jun 2016: Vietnam seafood exports up 4%

Shrimp

Vietnam shrimp exports in Jan-Jun 2016 reached US$1.35 billion, up 4.8% compared to the same period in 2015. Out of total export value of shrimp, exports of whiteleg shrimp, making up 59%, touched US$794 million, up 5.2%; those of black tiger shrimp, accounting for 33%, gained US$445 million, up 5.3%; and those of marine shrimp with the proportion of 8%, valued US$113 million, down 0.5% from the same period in 2015.

In the period, due to shortage of raw shrimp caused by drought and salinity, Vietnam companies focus more on value-added products. Therefore, exports of processed whiteleg shrimp (+9%) and processed black tiger shrimp (+24%) (HS code 16) registered a stronger growth compared those of fresh/live/frozen raw shrimp (HS code 03).

China increased imports of black tiger shrimp and whiteleg shrimp under fresh/live/frozen presentation from Vietnam, which represented 97% of Vietnam’s total shrimp exports to China. In which, sales of black tiger shrimp accounted for 64% and up 27%; those of fresh/frozen whiteleg shrimp made up 33% and up 190% over the same period last year. Vietnam shrimp exports to China accounted for 16% of Vietnam’s total shrimp exports, roughly equal to sales to Japan.

In Jan-Jun 2016, Vietnam shrimp exports to Japan posted a fall of 9%, and those to other markets such as Canada, ASEAN and Australia dropped by 22%, 1% and 9%, respectively year on year.

Pangasius

In the first 6 months of 2016, Vietnam pangasius was exported to 127 markets with the revenue of US$790 million, up 5.4% from the same period last year. In which, exports to the U.S, China and Brazil, accounting for nearly 50% of Vietnam pangasius exports, reported remarkable increase of 17.7%, 66.7% and 41%, respectively over the same period last year.

Vietnam pangasius exports to the U.S hit US$187 million, taking up 24% of Vietnam pangasius exports. A significant rise in exports to this market contributed to the rise in Vietnam’s total pangasius exports, despite a year-on-year slump from 2% to 23% in exports to the EU, ASEAN and other markets.

Tuna and other marine products

In Jan-Jun 2016, Vietnam tuna exports reached US$225 million, equal to the same period of 2015. In particular, exports of frozen tuna (HS code 03), accounting for 60% of the total tuna exports, gained US$134 million, up nearly 11%; while those of processed tuna, accounting for 40%, hit US$90 million, down nearly 13% year on year.

For the segment of frozen tuna (HS code 03), main products for exports included yellowfin tuna loins/fillet/steaks touched US$116 million, up 18% and picked up 52% of total tuna exports. Followed by those of canned tuna, which accounted for 27% and reached US$61 million, down 18% from the same period last year.

In the first 6 months of this year, Vietnam sent its cephalopod to 58 markets with the value of US$179 million, down 10% over the same period last year. In particular, the proportion of squid for exports was 55%, and those of octopus accounted for 45%. Exports to top 3 leading importers, making up 77% of the total cephalopod exports, declined: South Korea down 10.2%, Japan declined by 7%, and the EU fell by 1.9%. Meanwhile, exports to Australia and Israel showed the positive growth of 28.7% and 42%, respectively. However, shipments to these two markets took a small proportion of 1- 1.2% of Vietnam’s total cephalopod exports.

Thanks to higher capture output, exports of other marine finfish achieved over US$511 million, up 7.6%. Crab exports valued US$49 million, increasing by 3%, and bivalve mollusk exports hit nearly US$41 million, up 1.6% from the same period last year.

The supply of raw pangasius and shrimp predicted to face the shortage in the second half of this year due to unfavorable weather earlier this year. However, thanks to the recovery in the market demand for shrimp and pangasius, Vietnam seafood exports in 2016 forecasted to total US$7.1 billion, going up 8% year on year. In particular, shrimp exports expected to reach US$3 billion, pangasius with US$1.6 billion, tuna with US$500 million and cephalopod with US$450 million.

Written by Le Hang

Compiled by Dieu Thuy