(vasep.com.vn) The appreciation of the US dollar depressed import demand and reduced prices of fishery products in the major markets. Along with this, the pressure of from anti-dumping duties and financial difficulties significantly drove Vietnam's fisheries exports in QI/2015 to decline after positive growth throughout 2014.
In QI/2015, Vietnam seafood products were destined to 140 markets, giving the country US$ 1.65 billion, down 17.4% year-on-year.
Exports of crabs and bivalves increased by 9.4% and 8.8%, respectively while those of all other key products including shrimp, pangasius, tuna and cephalopod downed from last year. In particular, exports of shrimp experienced the biggest drop of 28%. Dominating seafood industry with 42% of total fisheries exports, shrimp exports impacted the overall results. Pangasius, which made up 26% of total seafood exports, down 13%. Tuna which occupied 7.6% of total exports, declined 9% year-on-year. Exports of cephalopod accounted for 5.6% saw a 5% decrease.
Exports to major markets fell sharply. Exports to the US declined by 37%, while exports to EU diminished by 11% and those to Japan downturned at 17%. Meanwhile, exports to China, ASEAN and Russia grew positively at 50%, 9% and 11%, respectively.
India, Malaysia and Indonesia increased shrimp exports to the US led to lower prices and afecting to prices of shrimp from Vietnam. Vietnamese companies had to bear anti-dumping duty of nearly US$ 1/kg when exporting pangasius to the US, which became a factor that caused lower results of seafood exports to the US in the quarter.
Rise of the dollar when the euro depreciated reduced demand in most major markets and increased competitive pressure on Vietnamese seafood enterprises.
Seafood exports in QII is expected to improve thanks to positive factors such as higher demand, lower production in some countries…
Report on Seafood Exports QI/2015 summarizes and provide detail information and data on developments and export results in QI/2015, analyze and forecast for QII/2015.
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