The Covid pandemic caused a sharp increase in the cost of sea transport to the European and American markets and the shortage of containers, which significantly affected Vietnam's seafood export activities. Among export items, shrimp had the highest sales, accounting for 38% while marine fish (except tuna) had the most positive growth, up over 14% and accounting for 23% of seafood exports. Ranked third is pangasius with 344 million USD, up slightly 3% and accounting for 19%. Tuna exports increased slightly by 3% to 344.2 million USD, while the export of squid and octopus increased by nearly 8% to 116 million USD.
While Covid-19 continues to affect exports of high-priced fresh frozen seafood products such as fresh fish, squid, frozen octopus, and tiger shrimp, the exports of canned seafood products, dry, surimi, fish sauce ... have the potential for strong growth in the first quarter of this year.
In the first quarter of 2021, Vietnam exported seafood to 140 markets, of which the US market was still the pioneer in both turnover and export growth, accounting for nearly 19% of Vietnam's total seafood exports. Next is Japan with 17.6%, ranked third is the Chinese market with 11%.
Demand for seafood in the retail and service segments both tends to increase in major markets such as the US, EU and China's resolution of the congestion of import ports since March has had a positive impact. to Vietnam's seafood export activities to these markets.
How will the new Covid wave affect Vietnam's seafood production and export in the second quarter and the whole year 2021? Does Vietnam have the opportunity and room to increase exports to markets when Asian seafood producing and processing countries are heavily affected by the Covid epidemic?
We would like to invite the businesses and readers to register the Report on Vietnam Seafood Export in Quarter I/2021 to get a detailed information and satistic on sales, prices and export trends of Vietnamese seafood products in the first 3 months of the year, assessment of supply-demand of markets and forecast of production and export of seafood in the second quarter and the following months of 2021.
See table of content, list of figures and tables in the Report here.
(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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