The Covid-19 epidemic lasted for the whole of 2020, disrupting global trade in seafood, changing the trend of consumption of fishery products. Accordingly, Vietnam's main export products also fluctuate according to market trends, leading to an increase in exports of whiteleg shrimp, marine shrimp, variable fish, crabs and bivalve mollusks, while pangasius exports have decreased, tuna, squid and octopus exports decreased slightly.
COVID-19 has reduced the demand for seafood imports in the markets, but the main importers of Vietnamese seafood such as the EU, China, South Korea, and Japan only slightly decreased their imports from Vietnam (down 3-6%). Meanwhile, the US, the largest market still significantly increased (+ 10%) of Vietnam's seafood imports. In addition, other markets such as Russia, UK, Australia, and Canada still increased strongly (10-32%) of seafood imports from Vietnam.
Vietnam's seafood exports in the first quarter and second quarter of 2020 decreased by 10% and 7% respectively over the same period in 2019. However, from July, exports began to recover and increase in the third quarter (with 10% to 13% growth). In the fourth quarter, although the import demand of the markets is still good, the seafood trade is deadlocked because of the lack of empty containers to queue for export to other countries, while the freight is many times higher, causing export activities stagnation and slump.
In 2021, the seafood trade situation will still be strongly affected by this pandemic, even this is still the main factor that dominates Vietnam's trend of seafood import and export. However, Vietnam is still able to maintain its competitive strength thanks to a more stable supply of raw materials compared to other countries. In addition, the free trade agreements that Vietnam has signed will continue to be a lever for Vietnam's seafood exports to recover in some markets. After a year, Vietnamese seafood enterprises will have more experience and flexibility to adapt to changes and changes in market needs and tastes. Therefore, it is predicted that Vietnam's seafood export in 2021 will have better results than in 2020.
To get an overview, detailed forecast of seafood production and export trends over each quarter in 2021 and capture more details about the export status of each seafood item to markets in each month, each month. Quarter of 2020, you are invited to register for Report on Vietnam Seafood Exports in 2020, issued by VASEP in February 2021.
Please sign up for the Report here: http://seafood.vasep.com.vn/reports/quarterly-report-on-vietnam-seafood-exports/reports-on-vietnam-seafood-export/report-on-vietnam-seafood-exports-in-2020-21357.html
(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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