Vietnam earns 40 million USD from herring exports annually

(seafood.vasep.com.vn) While raw materials for many marine species are scarce, herring and anchovies are still Vietnamese products with readily available supply from domestic catch. Fishermen in the central provinces are bouncing herring, especially in the first months of this year, providing a firm supply of raw materials for processing companies to export.
Vietnam earns 40 million USD from herring exports annually
Vietnam earns 40 million USD from herring exports annually

Revenue from herring exports of Vietnam in 2021 was 37.5 million USD in 2021, down 9% from 41 million dollars in 2020. There is a total of 30 importing markets of Vietnamese herring products, top 5 of which account for roughly 76% of total export value, including the United States, Thailand, Japan, Korea, and Australia.

Last year, Vietnam herring exports to 4/5 of the above markets all decreased sharply, only Thailand recorded a 60% increase in imports from Vietnam.

Exports of herring to Japan in 2021 reached $7.8 million USD, equivalent to 2020. Since exports to the US market dropped from over 12 million USD in 2020 to 6.3 million USD in 2021, Japan emerged as the largest market last year. The majority of herring products exported to Japan are spiced fillets and canned fish.

In the first two months this year, herring exports to Japan reached nearly 2 million USD, up 35% on the corresponding period last year, accounting for 20% of total herring exports (10 million USD).

Raw materials  are plentifully available and market demand is rising, herring exports to Japan therefore are expected to grow significantly in 2022. However, from December 2022, herring (Sardine, Sardinops spp.) exports to Japan will be subject to a new regulation requiring a catch certificate for wild-caught seafood at the request of Japanese authorities, along with 3 other products: squid and cuttlefish, Pacific saury (Cololabis spp.) and mackerel (Scomber spp).

In the first two months of this year, herring exports increased by 2.5% over the same period last year, of which exports to the US increased by 30%, to South Korea increased by 67%, to Australia by 86%...

It is forecasted that Vietnam's herring exports will continue to increase in the coming months thanks to both high raw material sources and high demand.

Top 10 herring importing markets of Vietnam in 2020 – 2021 (million USD)

Country

2020

2021

Growth in value (%)

Market share (%)

Total

40.963

37.477

-9.3

100

Japan

7.848

7.775

-0.9

20.7

Thailand

2.750

6.814

59.6

18.2

US

12.226

6.318

-93.5

16.9

Republic of Korea

5.306

3.814

-39.1

10.2

Australia

4.723

3.630

-30.1

9.7

Nicaragua

1.373

2.186

37.2

5.8

Honduras

1.637

1.232

-32.9

3.3

Guatemala

2.247

1.077

-108.6

2.9

China

0.471

0.982

52.0

2.6

Laos

0

0.862

100.0

2.3

         

Compiled by Khanh Linh


SPECIALIST ON TUNA MARKET

Ms Van Ha

Email: vanha@vasep.com.vn

Tel: +84 24 37715055 (ext. 216)

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