Vasep said that most seafood companies saw declines of 35-50 per cent in orders due to cancellations, delays or shortages of raw materials.
Many companies felt that the impact of COVID-19 would become more serious as the pandemic has spread more rapidly since the start of the month.
According to Vasep, exports of tra fish to China have stalled since January and exports to European Union (EU) markets were also encountering difficulties in March as the bloc closed its external borders. Demand was also dropping as people stayed at home to prevent the spread of the pandemic.
In mid-March, exports to the Middle East, Asia and South Africa also started to struggle.
Vasep said most seafood companies were suffering shortages of raw materials.
Around 35-50 per cent of orders for shrimp to the US and EU were delayed or cancelled due to low demand for consumption. Still, shrimp exports saw slight increases of 2.6 per cent to $383 million, mainly thanks to the increase of 16 per cent in exports to Japan while exports to China fell by 37 per cent and to EU by 15 per cent.
Seafood producers and exporters both faced high inventories, Vasep said.
Statistics from the General Department of Customs showed that seafood exports totalled more than US$990 million in the first two months of this year, a drop of 11 per cent against the same period of 2019.
Exports to China fell by 44 per cent, EU by 20 per cent, ASEAN markets by 4 per cent and the Republic of Korea by 9 per cent.
Vasep said that seafood exports to China in the first quarter of this year would see a drop of at least 20 per cent due to low demand in China and interrupted transportation via border gates due to the pandemic.
Tra fish exports would suffer the most as China was the largest market for Việt Nam’s tra fish, accounting for 35 per cent. Tra fish exports to China dropped by 52 per cent in the first two months and to the EU by 40 per cent.
Several tra fish companies expected exports to China to recover from next month and return to normal from June.
Vasep urged producers to focus on improving the quality of tra fish to promote exports to the US from next 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.
(seafood.vasep.com.vn) According to data from General Department of Vietnam Customs, the UK imported nearly $3 million worth of pangasius from Vietnam in the first half of March 2024. Cumulative pangasius exports to this market reached $12 million as of March 15, 2024, down 3% from the same period last year.
Total export revenue from agro-forestry-fisheries products in the first three months of this year is estimated at 13.53 billion USD, up 21.8% over the same period last year; and this results in a trade surplus of 3.36 billion USD, a rise of 96.5%, according to the Ministry of Agriculture and Rural Development (MARD).
The southernmost locality is developing shrimp farming models that generate large outputs but are environment-friendly.
(seafood.vasep.com.vn) An Giang province's aquaculture output is predicted to reach 172.3 thousand tons in the first quarter of 2024, up 6.37% (+10.3 thousand tons) from the same time the previous year.
(seafood.vasep.com.vn) According to data from Vietnam Customs, as of March 15, 2024, Vietnam's cephalopod exports reached more than 109 million USD, a slight decrease of 3% compared to the same period in 2023. In the first quarter of this year, Vietnam's cephalopod exports are expected to reach about 136 million USD, down 2% over the same period last year.
(vasep.com.vn) According to statistics from the International Trade Centre (ITC), Portugal is the 6th largest tuna importer in the EU. In 2023, the country's tuna imports from other countries increased by 9% compared to 2022, reaching nearly 241 million USD.
(vasep.com.vn) Vinh Hoan Corporation has just announced supplementary documents for the 2024 Annual General Meeting of Shareholders, scheduled to be held on April 17.
(seafood.vasep.com.vn) Sao Ta Food Joint Stock Company (FIMEX VN) has just announced that in March 2024, finished shrimp output reached 2,000 tons and finished shrimp consumption reached 1,693 tons, an increase of 74%, and 42% over the same period in 2023, respectively.
(seafood.vasep.com.vn) In February 2024, Vietnam pangasius exports to China and Hong Kong decreased by 65% compared to February 2023, reaching 23 million USD.
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