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.
(seafood.vasep.com.vn) The Report on Vietnam Pangasius Sector 2015–2024, produced and released by the Vietnam Association of Seafood Exporters and Producers (VASEP) in January 2025, is expected to provide enterprises, importers, and government agencies with a comprehensive overview of key developments in Vietnam's pangasius production and export over the past decade. In addition to highlighting achievements, the report identifies existing challenges and analyzes future opportunities and threats for the pangasius industry.
(vasep.com.vn) Overcoming two years of fluctuation in both export markets and domestic production, Vietnam's pangasius industry has demonstrated resilience, adaptability, and a strong determination to seize opportunities and boost exports to various markets. As a result, in 2024, pangasius exports reached USD 2 billion, a 9% increase compared to 2023. This achievement is a source of pride for Vietnam's aquaculture and agriculture sectors.
(seafood.vasep.com) Speaking at a conference to implement the 2025 plan of the Ministry of Agriculture and Rural Development, Prime Minister Pham Minh Chinh urged the agricultural sector to strive for a total export turnover of agricultural, forestry, and fishery products reaching $70 billion by 2025.
With robust production and processing infrastructure, combined with continuous market development efforts, Vietnam’s seafood exports are poised for 10–15% growth in 2025.
In 2025, seafood exports are expected to continue to grow better and could reach 11 billion USD as in 2022. However, this is also the year the seafood industry will face challenges, including increased competition from other countries, trade wars and market barriers...
(seafood.vasep.com.vn) On the afternoon of December 25, at Toan Thinh Conference Center (Soc Trang City), the Soc Trang Fisheries Sub-department, under the Department of Agriculture and Rural Development of Soc Trang, held a conference to review the 2024 aquaculture activities and outline the brackish water shrimp farming plan for 2025. The event was attended by Ms. Quach Thi Thanh Binh, Deputy Director of the Department of Agriculture and Rural Development of Soc Trang.
The Mekong Delta province of Soc Trang aims to achieve export value of over 1.9 billion USD in 2025 by boosting production and processing of key products such as seafood, high-quality rice, fruits, and garments.
The UK-Vietnam Free Trade Agreement has significantly boosted Vietnamese seafood exports, with shrimp and pangasius leading the charge in the UK market.
(seafood.vasep.com.vn) In November 2024, Vietnam's tuna exports failed to maintain the rapid growth momentum seen earlier. Export value during the month increased by nearly 4% year-on-year, reaching approximately USD 82 million. Cumulatively, the export value for the first 11 months of 2024 totaled USD 903 million, a 17% increase compared to the same period in 2023. However, at this growth rate, the total export turnover for 2024 is estimated to only reach around USD 1 billion.
(seafood.vasep.com.vn) On the evening of December 24, 2024, in Hanoi, the Central Youth Union, Viet nam Youth Federation and the Vietnam Young Entrepreneurs Association held the Vietnam Golden Star Award Ceremony 2024, with the theme "Reaching Vietnam", honoring 200 outstanding enterprises. Deputy Prime Minister Nguyen Hoa Binh attended.
VASEP - HIỆP HỘI CHẾ BIẾN VÀ XUẤT KHẨU THỦY SẢN VIỆT NAM
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