Shrimps still account for the highest proportion in the product category exported to the EU of 54% (303 million USD), a leap of 51% over the same period in 2021. In which, imports of vannamei increased by 46% with 236 million USD, making up 78%. Imports of Vietnamese black tiger shrimp into EU skyrocketed 75% to over USD 50 million, accounting for 16.5% of total shrimp exports to this block. The top 3 markets in the block include the Netherlands, Germany and Belgium, recorded growth rates of 58-91% in Vietnamese shrimp imports in the first 5 months of 2022.
A positive sign is witnessed in pangasius exports to the EU this year, which rebounded strongly with an increase of 89% in the first 5 months, reaching nearly $89 million, accounting for 16% of seafood export value to this block. This is a remarkable change compared to 10% in 2021. In which, pangasius exports to the Netherlands increased by 80%, to Germany by 89%, to Spain by 90%, to Belgium by 104% ... Frozen pangasius fillets portion cuts (HS code 0304) accounted for 93% with 82.5 million USD, up by 93% year-on-year, whole fish exports accounted for nearly 5%, the rest was processed pangasius accounted for 2%.
Tuna exports accounted for 12% of total seafood exports to EU, reaching US$68 million, an increase of 9%. Tuna exports to the Netherlands and Belgium increased sharply by 59%, 70% and 100%, respectively. The two main products are frozen tuna loin/fillet, taking up 63% and canned tuna for 25%. Exports of these two products to the EU increased by 77% and 14% respectively. Meanwhile, exports of other processed tuna and fresh/frozen tuna fell by 63% and 69% respectively, accounting for a total of 10% of tuna exports to the EU.
In the European market, there is an inclination towards consumption of sustainable and healthy seafood. Accordingly, Europeans increasingly prefer white fish products due to health-related factors, along with the increasing awareness of environment and seafood resources protection, the opportunity for imported farmed fish is getting greater. Besides that, the demand for sustainable and organic seafood is also increasing; Sales of seafood in the retail market increased due to COVID-19; Europe has a growing market for convenience and ready-to-eat products
Requirements for products with sustainability certification will increase in Europe. Consumers are increasingly concerning of seafood traceability and sustainable, safe and fair production methods. As EU is a difficult market, SPS and TBT regulations will be increasingly tightened, especially when environmental and labor regulations will be given more attention and stricter inspection in the criteria of imported seafood products.
Compiled by My Hanh
(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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