The top 4 single import markets include China, the US, Japan, and France, accounting for more than 91% of the total crab export value.
After a decline in 2021, Vietnam's crab exports to China and Hong Kong increased in the first 3 months of 2022 reaching more than 20 million USD, up 104% over the same period. The main reason is that Vietnam's seafood processing and exporting enterprises have adapted rather well to the market's "zero Covid" policy. This high growth has made China the largest crab import market from Vietnam.
Vietnam's crab exports to Japan are also continuing to grow this quarter. The value of crab exports to this market reached nearly 19 million USD, up 18% over the same period. Japan is currently the largest importer of Vietnamese crabs in the CPTPP. And also the country that maintained the continuous growth of crab imports in the first 3 months of 2022. Meanwhile, crab exports to Australia and Singapore had a continuous decline in this quarter.
For the EU market, Vietnam's crab exports also recovered after a decline last year. However, exports to markets in the bloc are not stable. France is currently the largest crab import market of Vietnam in this market block, reaching nearly 1.7 million USD, up 38%.
In the EU crab market, Vietnamese crab exporters have to compete with products from the UK, Norway, Madagascar, China, and Indonesia, including lobster and surimi.
Notably, Vietnam's crab exports to the US grew continuously in the first 3 months of 2022. Vietnam's crab export value to this market in the first quarter of 2022 reached nearly 19 million USD, up 78% over the same period. The US has fully reopened, which has helped increase demand for crabs. In addition, increased production costs and sea transportation costs have pushed up export prices.
Crab imports to the US in the first quarter of this year decreased, mainly due to the impact of the US government's ban on importing seafood including crabs from Russia. Russia accounts for 30% of total imports of snow crab and 90% of total imports of king crab from the US. Vietnam's crab exporters can also take advantage of this opportunity to maintain exports to the US. In the first three months of this year, the US reduced imports of frozen red king crab by 9% from Russia with 3,403 tons. In March this year, the US imported 257 tons of snow crab from Russia, worth $5.8 million, down 86% in volume and 84% in value compared to March last year.
Compiled by Minh Trang
Having identified its weakness in 2023, entering the first quarter of 2024, Vietnam's shrimp industry has undergone a clear change, reflected through increases in exports to major markets.
It is necessary to develop more detailed and consistent regulations on seafood production for export in line with the implementation of solutions towards sustainable and responsible fishing practices.
(seafood.vasep.com.vn) After increasing to the highest level in 2022, Canada's tuna imports in 2023 dropped to the lowest level in the past 10 years, reaching 35 thousand tons, down 24% over the year. Canada is currently one of the 15 largest tuna import markets in the world.
(seafood.vasep.com.vn) Chile, one of the countries participating in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), has tended to increase tuna imports from Vietnam in the past 3 years. According to statistics from Vietnam Customs, this South American country imported nearly 3 million USD of tuna products from Vietnam in the first 2 months of 2024, an increase of 58% over the same period in 2023.
Economic and social development activities, overexploitation, pollution, diseases, and climate change have adversely affected the ecological environment, leading to a severe decline or the extinction of many precious indigenous aquatic species.
(seafood.vasep.com.vn) The prices of pangasius fingerlings and raw pangasius in ponds fell in March, following steady increases in the first two months of this year.
(seafood.vasep.com.vn) In February 2024, the average export price of Vietnamese pangasius to markets increased by 4%, although the volume decreased by 40% compared to the previous month.
(seafood.vasep.com.vn) There was a 6% decline in Vietnam's pangasius exports to Brazil in February 2024 compared to the same period in 2023, with the total value reaching 6 million USD.
(vasep.com.vn) In the first two months of 2024, Poland—which ranks as Vietnam's fourth-largest EU supplier of tuna—became a noteworthy market. Vietnam's tuna exports value to Poland increased by 786% in comparison to the same period last year, totaling over $2 million USD and contributing about 2% of the country's overall tuna exports revenue.
Regulations on the protection and sustainable development of aquatic resources, Việt Nam's legitimate rights at sea in accordance with international law and the achievements that the country has carved out to remove the European Union’s “yellow card” will be brought closer to local people.
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