(vasep.com.vn) Changes in global economy and currency rates resulted in decreasing demand for seafood and falling prices, especially for shrimp. This explains why Vietnam seafood exports in first half of 2015 decreased after rising sharply in 2014. In the first 6 months of 2015, seafood exports fell 16% year on year to US$3 billion.
Shrimp exports plummeted 28% and this shaped seafood trend this year. Exports of pangasius, tuna, octopus, and squid declined 8-9% year on year.
India increased shrimp supply, letting average shrimp prices fall, therefore, Vietnam shrimp exports to the US decreased by 50%. Seafood exports to the US experienced a downturn of nearly 30%, the most significant comparing to other markets, though exports of pangasius and tuna to the market achieved positive growths.
Decreasing consumption in the EU and Japan due to economic recession, among which, the depreciation of the EUR and JPY was the most outstanding. Exports to the markets fell by 16% and 11.4%, respectively.
Pangasius exports to the EU continued to decrease, however, the rise in other markets like the US and China can offset declines.
Shrimp supply is forecasted to decrease and global shrimp prices are likely to increase in second half of 2015. Is there any opportunity for Vietnam companies to find substantial growths in next months? Is there a chance for shrimp exports to rise again in the second half of the year? What are factors to influence Vietnam shrimp and seafood industry in the near future? This report will give you the answers to all of these questions.
Report on Vietnam seafood exports in QII/2015 provides you detailed and up-to-date information on production and exports of every major seafood commodity, with analysis on market determinants, opportunities and challenges as well as the position of Vietnam in the seafood map. The report also gives you forecasts for seafood export results in QIII and the whole year of 2015.
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