Following the recovery from the fourth quarter of 2021, Vietnam's seafood exports in the first quarter of 2022 had a strong breakthrough with sales of $2.5 billion, up 46% over the same period last year, despite the consequences of the pandemic. The Covid epidemic caused production and sales costs to skyrocket, especially sea freight.
The Russian-Ukrainian conflict that occurred at the end of February has made the input costs even higher along with the bottlenecks and disturbances in the global seafood trade, both positively and negatively affecting the seafood exports of the country. Vietnam.
Exports to Russia and Ukraine stagnated, but in return, orders from other markets increased rapidly and export prices increased, helping to increase seafood export turnover in the first quarter of 2022.
The export price of pangasius, shrimp, tuna and some main aquatic species to the markets increased sharply, in which pangasius alone increased by 40-70%, helping this product have the highest export growth.
China still has many challenges for seafood exporters because of the zero Covid policy, but the demand for seafood in this market is too high, so the demand for seafood imports from Vietnam is still high and has grown the most among the import markets.
However, the Covid epidemic and the Russia-Ukraine conflict will continue to affect seafood production and export in the second quarter. But with the flexibility and efforts of seafood enterprises, exports in the second quarter are forecasted to continue to grow positively.
Please register the Report on Vietnam Seafood Exports in the first quarter of 2022 to capture more detailed information about seafood export developments by product line, species, processing structure, locality, etc. the first quarter of 2022, as well as predictions about export trends and export results in the second quarter of 2022.
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The Report on Vietnam seafood exports in QI/2022 is available on 10th May 2022.
(seafood.vasep.com.vn) According to statistics from Vietnam Customs, Vietnam's tuna exports in October reached nearly $93 million, marking a 22% increase compared to the same period in 2023. In the first ten months of 2024, the total export value exceeded $821 million, up 18% compared to the same period last year.
(seafood.vasep.com.vn) According to Vietnam Customs data, pangasius exports to the EU reached USD 7 million in the first half of October 2024, marking a 27% year-on-year increase. As of October 15, 2024, cumulative exports to the EU totaled over USD 134 million, reflecting a slight 0.01% decrease compared to the same period last year.
(seafood.vasep.com.vn) According to data from Vietnam Customs, pangasius export revenue in October 2024 reached nearly $202 million, a 17% increase compared to October 2023. The cumulative export value for the first ten months of the year totaled $1.7 billion, marking a 9% year-on-year increase.
(seafood.vasep.com.vn) Vietnam's exports of crabs and other crustaceans continued to see high growth in September 2024, with a 54% increase compared to the same period in 2023. In the first nine months of the year, exports of crabs and other crustaceans reached over USD 228 million, a 67% increase year-over-year.
(seafood.vasep.com.vn) Vietnam’s shrimp exports reached $394 million in October 2024, up 24%. In the first ten months of this year, shrimp exports brought in $3.2 billion, up 13% compared to the same period last year. Exports to all major markets recorded double-digit growth in October.
International Development and Investment Corporation (IDI), a key member of the Sao Mai Group, has consistently ranked among the largest seafood producers and exporters in Vietnam.
(seafood.vasep.com.vn) In recent years, the US has consistently been Vietnam’s largest seafood export market. Over the past five years, seafood export turnover to the US has ranged from 1.5 billion USD to 2.1 billion USD anually. Despite facing strict protective policies such as anti-dumping and countervailing duties, U.S. market demand remains high, and the quality of Vietnamese seafood continues to improve, helping to maintain and expand its position in this market.
(seafood.vasep .com.vn) The return of Donald Trump to the White House for a second term will bring significant impacts on Vietnam, particularly its pangasius export sector. Trump's economic policies, such as raising import tariffs, reducing corporate income taxes, and attracting foreign direct investment (FDI) back to the US, are expected to directly influence various industries in Vietnam.
(seafood.vasep.com.vn) The UAE ranked 16th among importers of Vietnamese shrimp from 2018 to 2022, accounting for approximately 0.5% of Vietnam's total shrimp export value. Annually, Vietnam exported around US$20 million worth of shrimp to this market.
(seafood.vasep.com.vn) The company also announced that its farms are well-prepared and will begin stocking in mid-November when the weather conditions are favorable.
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