From April 2021, Vietnam's seafood exports to the Chinese market continuously decreased by 11-51% due to strict control of imported frozen seafood at the main ports of this country, causing congestion and costly for Chinese importers and affecting profits of importers as well as Vietnamese exporters. More affected by the Covid outbreak from July 2021, exports to China in the third quarter fell further: down 36% in August and 51% in September.
As of the end of September 2021, Vietnam's seafood exports to China decreased by 20.5% over the same period last year, reaching $768 million. In which, the two main products, shrimp and pangasius, accounted for 39% and 36% of the total seafood export value to this market, respectively, reaching 298 million USD and 279 million USD, down 23% and 20% over the same period of 2020. Shrimp exports to China decreased by 23%, mainly because black tiger shrimp exports decreased by 12% and lobster exports fell by 82%.
In addition, China is also an important crab import market of Vietnam, mainly importing live crab. By the end of September, crab exports to this market reached 36 million USD, down 21% over the same period last year.
In the face of strict control by Chinese Customs, it is forecast that Vietnam's seafood exports to China will continue to fall deeply in the last 3 months of the year, reaching $242 million in the fourth quarter, down 40%. Accordingly, it is forecasted that seafood exports to this market in 2021 will reach about 1 billion USD, down 26%.
(seafood.vasep.com.vn) The outlook for Vietnam’s seafood exports remains positive, with a strong focus on maintaining growth in key markets like China and the U.S., while diversifying into new regions. As global trade policies continue to evolve, adaptability and strategic planning will be key to navigating the challenges ahead.
(seafood.vasep.com.vn) Thanks to improved pangasius prices and higher production, Vĩnh Hoàn's after-tax profit in Q4 2024 reached VND 440 billion, a 4.8-fold increase compared to the same period last year.
(seafood.vasep.com.vn) According to data from Vietnam’s Customs, in Q4 2024, Vietnam’s pangasius exports to China & Hong Kong reached USD 163 million, a 17% increase compared to the same period in 2023, with consistent growth across all months. The total value of pangasius exports to China & Hong Kong for 2024 reached USD 581 million, a 1% increase over the previous year.
Vietnam’s seafood exports are projected to maintain strong growth this year, potentially reaching 11 billion USD.
(seafood.vasep.com.vn) In the final quarter of 2024, Vietnam’s surimi and fish cake exports showed consistent growth over the last three months. For the entire year 2024, exports of these products reached USD 298 million, down 2% compared to 2023. However, the final quarter saw more promising signs for the surimi and fish cake export sector, with some markets experiencing notable growth, such as Thailand, China, and Taiwan. Particularly, exports to Taiwan, which had seen continuous declines in the previous two quarters, surged by 301% in this quarter.
(seafood.vasep.com.vn) Another year of pride for Vietnam's pangasius exports has concluded, reaching over USD 2 billion and contributing 20% to Vietnam's total seafood export turnover.
Vietnam maintained its position as the fifth-largest seafood exporter to Singapore for 12 consecutive months, surpassing Japan for the first time in 2024, amid the intensifying competition in this market.
(seafood.vasep.com.vn) Despite facing numerous challenges in the second half of the year, Vietnam's canned tuna exports concluded 2024 with a 17% increase compared to 2023, reaching USD 299 million. To maintain this growth momentum in 2025, the canned tuna production and export sector requires coordinated efforts from all stakeholders.
SSI forecasts a 28% year-on-year increase in after-tax profit attributable to the parent company of Vinh Hoan Corporation (VHC), driven by a gradual improvement in average selling prices from USD 3.15/kg in 2024 to USD 3.30/kg (+5%) in 2025. An Giang Fisheries Import-Export Joint Stock Company (ANV)'s after-tax profit attributable to the parent company is projected to rebound by 104%.
In 2025, the Mekong Delta province of Bac Lieu aims to earn 1.2 billion USD from exporting shrimp, one of the key export products that accounts for over 95% of its total export value.
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