In June 2023, Vietnam’s seafood exports to the UK market will increase sharply again after decreasing in May 2023. According to statistics of the General Department of Customs, in June 2023, Vietnam’s seafood exports to the UK market reached 4.4 thousand tons, worth USD 28.85 million, up 22.3% in volume and 15.7% in value compared to June 2022.
Generally, in the first 6 months of 2023, Vietnam’s seafood exports to the UK market reached 9.1 thousand tons, worth 141.3 million USD, up 4.5% in volume, but down 2.64% in value over the same period in 2022
In terms of types, in June 2023, exports of most of Vietnam’s seafood to the UK market will increase sharply, except for the decrease in exports of squid and crabs.
Vietnam’s shrimp exports to the UK market in June 2023 will reach 2.06 thousand tons, worth 19.88 million USD, up 30.6% in volume and 22.7% in value over the same period in 2022. However, in the first 6 months of 2023, Vietnam’s shrimp exports to the UK market still decreased by 9.4% in volume and 12.5% in value over the same period in 2022.
Pangasius and basa exports to the UK market in June 2023 increased by 14.8% in volume, but decreased by 14% in value compared to June 2022, reaching 1.8 thousand tons, worth 5.9 million USD. Generally, in the first 6 months of 2023, Vietnam’s pangasius and basa exports to the UK reached 9.4 thousand tons, worth 33.2 million USD, up 15.1% in volume and 2.9% in value over the same period in 2022.
Meanwhile, Vietnam’s exports of frozen fish, frozen tuna and all kinds to the UK market continued to increase sharply compared to the same period in 2022.
Notably, in 10 items, some exports spiked. Accordingly, octopus was the seafood that increased the most in June, up 652.1% in volume and 456.7% in value compared to June 2022. In the first half of the year, this item increased by 796.6% in volume and 705.5% in value over the same period last year.
Besides, the UK market also increased imports of Vietnamese fish cakes. This product recorded an increase of 242.4% in volume and 403.7% in value in the first 6 months of 2023.
According to the Vietnam Association of Seafood Exporters and Processors (VASEP), it is estimated that by the end of July 2023, seafood exports will reach nearly 5 billion USD, down 25% over the same period in 2022. In particular, the deepest decrease was still pangasius (down 36%), shrimp and tuna decreased by 27% over the same period last year.
VASEP said that there will be 2 scenarios for the seafood market in the last 5 months of the year. If favorable, seafood exports in the remaining 5 months of 2023 are forecasted to reach over 4 billion USD, then the total export turnover for the whole year 2023 will reach over 9 billion USD, down 15-16% compared to 2022.
The less optimistic scenario is that when the market has shown signs of recovery, demand increases again, but Vietnam’s seafood products are still difficult to compete in price and supply with other countries such as Ecuador, India, Indonesia, Thailand …
Thus, exports in the last 5 months of the year can only reach about 3.5-3.7 billion USD, so for the whole year 2023, exports may only bring in about 8.5-8.7 billion USD. The deepest decline forecast is still in 2 categories of pangasius and shrimp.
Notably, seafood exports are likely to worsen if the results of the inspection of the EU inspection team’s IUU anti-fishing program in October do not meet expectations to remove the “yellow card”.
(Source: cafef.vn)