GENERAL INFORMATION

In Vietnam, the fishery sector plays an important role in the national economy, accounting for about 4-5 percent of Gross Domestic Product (GDP) and about 9-10% of national export revenue.

More than 4 millions of people working in the fishery and the growth in production have attributed to the fish exports. Thanks to strongly increase in many years, Vietnam ranks among the top ten seafood suppliers and its seafood products are exported to 170 markets in the world.

Shrimp, pangasius, tuna, squid and octopus are main seafood products exported by the country. In which, shrimp exports create about US$ 3.5 – 4 billion, make up 46-50% of the total seafood sales of Vietnam. Earnings from pangasius reached at US$ 1.7 – 1.8 billion (25% of the total) and exports from Tuna and Cephalopods are US$ 450 – 550 million for each.

Exports to the U.S, Japan, EU, China and South Korea make up 75% of Vietnam’s seafood sales to the wolrd.

5 advantages for Vietnam seafood exports:  

(1)  High commitment and participation from Government, Industry and companies for food safety, environment  and social responsibility;

(2)  Able to supply the big volume and safe quality and stable seafood products;

(3)  Meet all the customers’ requirements, incl. the vertical linkage (integration) for each species sector;

(4)  Vietnam is one in few countries in the world which has the good and stable labor resource; 

(5)  Vietnam has Agreements / FTAs with many countries and territories and has advantages both in product quality and im-ex tax.  

Seafood export forecast to go down in February

Seafood export in February is forecasted to decrease 32% compared to January.

According to Ministry of Agriculture and Rural Development (MARD), seafood export value in February was estimated at USD 351 million, down 32% month – on – month. As a result, seafood export in the first two months of 2017 was estimated at USD 844 million, decline of 3.1% year – on – year while seafood import value forecasted to increase 19.1% to USD 196 million. Seafood import value in February was USD 99 million.

Capture fishery production is expected to increased 2%, up to 389 thousand tones, in which marine fishing would be 373 thousand tons (up 4%), inland fishing would be 16 thousand tons. Tuna fishing production is estimated at 3.5 thousand tons, including Binh Dinh province at 2.3 thousand tons, Khanh Hoa province at 832 tons and Phu Yen province, 432 tons.

The decrease of seafood export value came from the rising of processing material price. The shrimp processors has come back to work after the long holiday of Tet, and tra fish demand for processing went up because of out of stock from processor’s store and lack of raw material supply in the whole year of 2017.

However, the first class tra fish raw material price (800gram/unit) up about VND 2,500 in compare to the end of last month, reaching VND 25,000 /kg. Tra fish price would be high in the future.

At major shrimp producing areas as provinces of Kien Giang, Ca Mau and Soc Trang, material price of black tiger shrimp (30 units/kg) got at VND 230,000 – 240,000 /kg while shrimp sized 40 units/kg was VND180,000 – 190,000 /kg, up VND 20,000 and 10,000,  respectively. White-legged shrimp price increased by VND 10,000 – 15,000 /kg month – on – month.

On the other hand, according to Viet Nam Association of Seafood Exporters and Producers (VASEP), within two first months of this year, Vietnamese seafood products got a lot of alerts from importers that will affect seafood export in this year.

 


Comment

  • Detail-Right-Top