Vietnam seafood exports to rebound by the end of this year

In the period, Vietnam seafood exports valued at US$4.43 billion, up 5.2% compared to the same period of 2015. In which, exports of shrimp increased by 5.8%; pangasius up 6%; tuna up 2.1%, other finfish up 8.3%; crabs and other crustaceans up 7.2%; while those of mollusks (including cephalopod and bivalve mollusks) decreased by 4.2% year on year. By the end of this year, total seafood exports expected to maintain the growth of 5-6%.

Shrimp exports rose

In the first 8 months of this year, Vietnam shrimp exports reached US$1.93 billion, up 5.8% compared to the same period of 2015. In particular, sales of black tiger shrimp slightly decreased by 0.5%; that of whiteleg shrimp increased by 10%.

Through Aug 2016, Vietnam shrimp exports to the U.S reached US$435.3 million; up 16.5% year on year. Vietnam’s shipments to the U.S remained the good growth thanks to an increase in demand, while other sellers to the market such as India, Indonesia, Ecuador, and Thailand had difficulties in their supplies of raw materials, which led to a rise in the export prices. Besides, the country also increased imports of black tiger shrimp while sources from India and Indonesia fell.

In Sep 2016, DOC announced the final result of POR10 that was 5 times higher than preliminary result. The DOC’s decision may affect to the shrimp sales from Vietnam to the U.S in the last quarter of 2016.  

Vietnam shrimp sales to the EU reached US$372 million, up 7% year on year in which exports to the UK up 8.4%, the Netherlands up 29% and Germany up 2.1% year on year. Shrimp sales to the UK rose thanks to  higher demand for warmwater shrimp in the market in the context of lower supply of coldwater shrimp.

Vietnam shrimp exports to Japan in Jan-Aug 2016 touched US$343.7 million, down 6.4% from the same period last year due to a weak yen and higher shrimp price. Through Jul and Aug 2016, the import price of shrimp into Japan rose despite a stronger yen as supplies declined and the global demand increased.

Up in Vietnam pangasius exports

In Jan-Aug this year, Vietnam pangasius exports gained US$1.08 billion, up 6% compared to the same period last year. In which, sales to the U.S and China showed the good signs during the period.

Exports to the U.S reached US$254.5 million, up 22.4% year on year. Exports to EU continued to fall in the second consecutive year. Through Aug 2016, shipments to EU amounted to US$177.3 million, down 7.9% year on year. Pangasius consumption in the EU since the end of 2014 up to now slowed down. Vietnam pangasius still had to toughly compete with some other whitefish products such as fish Alaska pollock in major markets such as the Netherlands, the UK, Spain or Germany.

In the period, exports to China hit US$171.9 million, up 72% compared to the same period last year. This was a rise in the second consecutive year.

Vietnam exports of marine products recovered

Vietnam tuna exports in Aug 2016 were up 10%; other marine finfish rose by nearly 15%; cephalopod went up 1.7%; bivalve mollusks grew by 4.4%; and crabs increased by nearly 61%.

As of Aug 2016, Vietnam tuna exports valued at US$309.8 million; up 2.1% year on year. Of that, exports of fresh/fresh/frozen tuna (HS code 03) continued to pick up the biggest share of 58.3%, up from 54.4% last year. Exports of processed tuna (HS code 16) accounted for 41.7%; down from 45.6% in the same period last year.

Top 8 importing markets of Vietnam tuna, including the U.S, EU, ASEAN, China, Israel, Japan, Canada, and Mexico made up 88.2% of Vietnam tuna exports.

In the period, exports of other finfish increased by 8.3%; crabs and other crustaceans up 7.2%, while those of mollusks (including cephalopod and bivalve mollusks) decreased by 4.2% compared to the same period last year.

Written by Ta Ha

Compiled by Dieu Thuy