Like the US market, demand in the EU recovered after Covid. So despite difficulties such as the high food inflation, soaring sea freight rates and high container costs, Vietnamese businesses took advantage of the situation to promote shrimp exports to this market. In the context of price inflation, the EVFTA is an even more favorable factor to support shrimp exports to the EU.
In the first 5 months of this year, Vietnam's shrimp exports to the EU reached 304 million USD, up by 51% over the same period last year, recorded the highest export volumes compared to previous years’ same period.
Countries in EU increased their imports of vannamei by 46% with US$236 million, accounting for 78%. Black tiger shrimp imports from Vietnam skyrocketed 75% to over 50 million USD, accounting for 16.5% of shrimp exports to this market. The top 3 markets in the bloc including the Netherlands, Germany and Belgium all increased 58-91% of Vietnam's shrimp imports in the first 5 months of 2022.
Demand for sustainable and organic shrimp products is growing in Europe. Convenience products are also in high demand.
Vietnam's shrimp exports to the EU in the coming months will continue to be affected by inflation in Europe, as the EUR depreciates against the USD. The economies of Europe are also dealing with the crisis from the Russia-Ukraine war, the cost of gasoline, the soar of price of goods. The EU's shrimp import demand in the following months may decrease and is expected to increase again in the last months of the year.
Compiled by My Hanh
(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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