Seafood exports in March 2021: Many markets have impressive growths

In March, Vietnam exported seafood to 130 markets, in which, the US market was still the pioneer in both turnover and export growth with 136 million USD, up by 36% compared to March 2020, accounting for nearly 20% of total seafood exports of Vietnam, followed by Japan with 125 million USD, accounting for 17.6%. Ranked third is the Chinese market with 103 million USD, up by 15% and accounting for 14%. Exports to South Korea also increased by 15% to 65 million USD, being the fourth market, accounting for 9%.

Demand for seafood in the retail and service segments both tends to increase in major markets such as the US and EU and China's removal of the congestion at import ports since March has had a positive impact to Vietnam's seafood export activities to these markets.

However, seafood export data in March as well as the first 3 months of 2021 shows that there are single markets, which are not in the top 5 seafood import markets of Vietnam, have impressive growths and are gradually asserting their indispensable position in Vietnam's seafood exports. Those are Thailand, UK, Russia, Australia, Canada, which account for 3-4% each of Vietnam's seafood exports.

Seafood exports from Vietnam to Thailand in March increased by 44%, to the UK increased by 20%, to Russia increased by 68%. Exports to 2 CPTPP countries, Australia and Canada, increased by 28% and 9%, respectively.

In the export turnover to Thailand, 30% of the value comes from processing activities of joint venture companies, processing marine fish products such as surimi, fish cakes and canned tuna ... the rest are products of Vietnam enterprises. Vietnam mainly exports to this market pangasius, frozen squid, dried squid ...

Increasing retail sales of seafood in the UK from the beginning of the year, especially with warm water shrimp, tuna and some marine fish are favorable factors for Vietnamese seafood enterprises. Russian import demand also tends to increase, the room for Vietnamese enterprises is being expanded. Recently, Russia announced more 9 seafood processing companies and factories to the list of exporters allowed to export seafood to this market, bringing the list to 44 units allowed to export to Russia.

By the end of the first quarter of 2021, Vietnam's seafood exports reached US $ 1.73 billion, an increase of nearly 7% over the same period last year. In particular, shrimp exports increased by 5% to 661 million USD, pangasius exports increased by 3% to 344 million USD, tuna reached 151 million USD, also up 3%, other marine fish increased by sharply 14% to 402 million USD, cephalopod sales increased by 8% to 116 million USD.