Exports of fresh/frozen/dried/salted crab and crustacean products decreased by 44%. Export of canned products decreased by 74%. Export of processed products increased by 18%.
High inflation has reduced purchasing power in many import markets. Thus, Vietnam's exports of crabs and other crustaceans in the first two months of 2023 have decreased compared to the same period in 2022.
Currently, Japan, the US, China, Canada and the UK are the 5 largest crab import markets of Vietnam, accounting for 94% of the total export turnover in the first two months of the year.
In the Japanese market, exports of crabs and other crustaceans continue to grow from the fourth quarter of 2022. Export turnover in the first two months of 2023 increased by 128% over the same period, reaching more than 8.1 million USD. This growth has taken Japan from the third largest importer in the first two months of 2022 to the first position this year.
Along with Japan, Vietnam's crab exports to the UK also increased during this period. Exports to this market reached 338 thousand USD, up 33% over the same period in 2022.
Meanwhile, exports to other main markets decreased simultaneously. Although China has reopened, exports to this market have not shown any signs of recovery. Exports of crabs and other crustaceans to China decreased by 79% in the first two months of 2023 reaching nearly 3 million USD.
Exports to the US and Canada are also not better. Exports to these two markets decreased by 54% and 17% respectively.
In the current context, it is forecasted that consumers will still tighten their spending, especially with high-value products such as crabs. Therefore, Vietnam's exports of crabs and other crustaceans in the coming months cannot recover.
Compiled by Thuy Linh
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(seafood.vasep.com.vn) According to data from Vietnam Customs, Vietnam’s pangasius exports in January 2025 reached over USD 133 million, marking a 19% decline compared to the same period last year. Notably, the ranking of the top pangasius import markets saw significant adjustments.
(seafood.vasep.com.vn) According to a report by the General Statistics Office, the estimated pangasius output for January 2025 reached 102.5 thousand tons, representing a 6.0% increase compared to the corresponding period of the preceding year. This surge is attributed to the rise in pangasius material prices within the Mekong Delta, which has incentivized aquaculture farmers to expand their stocking activities. Concurrently, this price increase has facilitated processing enterprises to intensify procurement efforts to meet export demands during the early part of the year.
(seafood.vasep.com.vn) Between 2015 and 2024, Vietnamese pangasius exporting enterprises have undergone notable transformations in rankings and experienced fluctuations in developmental strategies, competitive intensity, and business efficacy. This dynamic is clearly illustrated through shifts in export turnover and the proportional contribution to the national pangasius export volume among the Top 5 enterprises.
(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.
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