For the export markets, the results in January also showed positive signals: to the US (+ 25.6%), Russia (+ 72%), Taiwan (+ 60%). In particular, exports to countries in the CPTPP agreement increased by 34%, of which to Australia skyrocketed 105%, to Japan rose 25%, to Mexico advanced 68%.
Exports to other markets in January 2021 all increased compared to the same period in 2020, but the growths was not considered positive because last year the Lunar New Year was in January.
In January 2021, some exported products saw outstanding growths, such as frozen pangasius fillet (HS code 030462) increased by 53%, which was the leading product in terms of export value, by code HS8, accounting for 17% of total seafood export value. Next is processed whiteleg shrimp (PTO, PDTO, butterfly ...), up by 47% and accounting for 9% of export value; Headless fresh/ frozen whiteleg shrimp, block, PTO, PDTO (HS code 03061721) increased by 39% and accounted for 7.4%, fish cake, surimi (HS code 0304990) increased by 58% and accounted for 6.8%; Fresh/frozen peeled white leg shrimp (HS code 03061722) increased by 56% and accounted for 5.2%.
Many other products with high growth (41-84%) such as: Frozen octopus (cut/whole); Frozen fillet/ portion fish (mackerel, barramundi, marlin, swordfish, seabass, saba, kingfish ...); Processed fish, seasoned dried fish, breaded fish ...; Frozen squid, sliced cuttlefish; Other processed fish (dried fish, fried fish, fish cake, fish sauce ...); Canned tuna in water; canned tuna in oil; Frozen boiled white clams and brown clams; Frozen crab/crab meat, seasoned fish, grilled fish of all kinds (saba, scad ...) …
In particular, there are a number of Vietnamese seafood products that are highly demanded in the context of the Covid epidemic, so the export value in January 2021 had a breaking growths, in which the exports of frozen whole/cut/butterfly pangasius (HS code 03032400) shoots up by 163%, dried squid HS code 03074921 sharply rose 118%; dried fish of all kinds HS code 03055990 skyrocketed 226%; Pasteurized crab meat, canned crab meat HS code 16051090 soared 242% …
However, there are a number of products that still had a sharp decrease in exports such as processed breaded twhiteleg and black tiger shrimp HS code 16052930 decreased by 63%; Fresh/frozen whole tiger prawn HS code 03061719 down by 19%; Frozen whole whiteleg shrimp HS code 03061719 decreased by 33%. The decline of these products is attributed to the decreased demand for high value processed products and is related to the tightening control and inspection on frozen goods imported into the Chinese market as this is the main market consuming Vietnam frozen whole shrimp products.
Vietnam exported seafood products in Jan 2021 (million USD) |
|||
Products |
Dec 2020 (Value) |
Jan 2021 |
Change vs 2020 (%) |
Shrimp (HS code 03 and 16) |
295.544 |
218.796 |
15.8 |
in which: - Whiteleg shrimp |
223.276 |
170.417 |
32.5 |
- Black tiger shrimp |
42.849 |
22.342 |
-38.7 |
Pangasius (HS code 03 and 16) |
135.119 |
123.566 |
21.7 |
Tuna (HS code 03 and 16) |
54.418 |
42.303 |
6.3 |
in which: - Tuna HS code 16 |
26.841 |
16.687 |
-3.3 |
- Tuna HS code 03 |
27.577 |
25.616 |
13.7 |
Other fish (HS code 0301 to 0305 and 1604, except for tuna and pangasius) |
160.559 |
154.374 |
46.2 |
Mollusks (HS code 0307 and 16) |
66.733 |
54.403 |
26.2 |
in which: - Cephalopod |
54.855 |
43.770 |
19.9 |
- Bivalve mollusks |
11.249 |
9.231 |
43.3 |
Crabs and other crustaceans (HS code 03 and 16) |
18.707 |
12.807 |
3.4 |
Total |
731.080 |
606.248 |
23.4 |
(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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