Exports to all markets simultaneously decreased by double digits. Japan was the largest shrimp import market of Vietnam in the first month of the year, accounting for 20.3%. Shrimp exports to Japan in January this year reached $29 million, down 47% over the same period.
Shrimp exports to Japan are expected to remain stable in 2023 as Vietnam's processed shrimp products are still in good demand in this market. However, this market requires increasingly high standards of food hygiene, safety and sustainability. Besides, the goods distribution system in Japan is complicated with many different levels and separate functions.
Shrimp exports to the second largest market, the EU in January reached 24 million USD, down 55% over the same period. Shrimp exports to the EU in 2023 are not positive due to the impact of inflation and uncertainties related to the Russia-Ukraine war.
In the context of increasingly strong competition from other suppliers such as Ecuador and China in the EU market, besides market diversification, enterprises need to diversify both products and supply chains, and focus on market research to boost export of goods that are in need.
Vietnamese shrimp exports to the US in January 2023 reached 23 million USD, down 65% over the same period. Demand for shrimp in the US market dropped sharply due to oversupply. Shrimp prices in this market are also falling. According to data from the National Oceanic and Atmospheric Administration (NOAA), US shrimp imports in December 2022 hit a 10-year low.
According to information from US importers, processors and wholesalers in this market are likely to buy more peeled and deveined shrimp instead of headless shell-on because this item is easier to transport - Lighter weight to reduce shipping costs and shorten processing time. The US market's demand for Vietnamese shrimp imports may improve after the first quarter of 2023, until around May when inventories are reduced and the economic situation is more positive.
Compiled by Thuy Linh
Vietnam’s pangasius export to the United Arab Emirates (UAE) reached more than 7 million USD in the first quarter of this year, a rise of 67% against the same period last year. UAE mainly imported frozen fillets from Vietnam.
(seafood.vasep.com.vn) According to data from General Department of Vietnam Customs, the UK imported nearly $3 million worth of pangasius from Vietnam in the first half of March 2024. Cumulative pangasius exports to this market reached $12 million as of March 15, 2024, down 3% from the same period last year.
Total export revenue from agro-forestry-fisheries products in the first three months of this year is estimated at 13.53 billion USD, up 21.8% over the same period last year; and this results in a trade surplus of 3.36 billion USD, a rise of 96.5%, according to the Ministry of Agriculture and Rural Development (MARD).
The southernmost locality is developing shrimp farming models that generate large outputs but are environment-friendly.
(seafood.vasep.com.vn) An Giang province's aquaculture output is predicted to reach 172.3 thousand tons in the first quarter of 2024, up 6.37% (+10.3 thousand tons) from the same time the previous year.
(seafood.vasep.com.vn) According to data from Vietnam Customs, as of March 15, 2024, Vietnam's cephalopod exports reached more than 109 million USD, a slight decrease of 3% compared to the same period in 2023. In the first quarter of this year, Vietnam's cephalopod exports are expected to reach about 136 million USD, down 2% over the same period last year.
(vasep.com.vn) According to statistics from the International Trade Centre (ITC), Portugal is the 6th largest tuna importer in the EU. In 2023, the country's tuna imports from other countries increased by 9% compared to 2022, reaching nearly 241 million USD.
(vasep.com.vn) Vinh Hoan Corporation has just announced supplementary documents for the 2024 Annual General Meeting of Shareholders, scheduled to be held on April 17.
(seafood.vasep.com.vn) Sao Ta Food Joint Stock Company (FIMEX VN) has just announced that in March 2024, finished shrimp output reached 2,000 tons and finished shrimp consumption reached 1,693 tons, an increase of 74%, and 42% over the same period in 2023, respectively.
(seafood.vasep.com.vn) In February 2024, Vietnam pangasius exports to China and Hong Kong decreased by 65% compared to February 2023, reaching 23 million USD.
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