Information from the Vietnam Association of Seafood Exporters and Producers (Vasep), the country’s seafood export turnover by the end of the first quarter of 2024 is estimated to reach nearly 2 billion USD, an increase of more than 8% over the same period last year. In March alone, seafood exports are estimated to reach over 770 million USD, a slight increase of 1% over the same period in 2023. Shrimp exports in March reached nearly 276 million USD, cumulative shrimp exports in the first quarter of 2024 reached more than 690 million USD. million USD, up 15% over the same period last year.
While pangasius exports in March earned 168 million USD, in the first quarter overall it reached nearly 424 million USD, up 0.4% over the same period. Notably, tuna exports in March increased by 24.5% to more than 89 million USD, bringing tuna export turnover in the first quarter to more than 220 million USD, up 22.2% over the same period in 2023. Crab exports , crabs and other crustaceans achieved high growth of nearly 60% in the first quarter, reaching more than 47 million USD.
Informing the press, VASEP representative said: Currently, the US, Japan and China are the top 3 largest import markets of Vietnamese seafood; In which exports to the US had a much stronger breakthrough, with a growth rate of 16% reaching 330 million USD; Exports to Japan were equivalent to the same period and exports to China increased by 15%.
Specifically, seafood exports to the US in March still increased by 10% over the same period. Among them, shrimp exports to the US alone increased by 15% in the first quarter; Exports of tuna, pangasius and crab to this market all increased sharply from 13-53%. Seafood exports to China in March decreased by 11% over the same period last year, mainly due to a decrease in pangasius and other marine fish, while shrimp exports to this market still increased by over 30%. Pangasius, white-legged shrimp, lobster, anchovies and crab are the five Vietnamese seafood species most exported to China. In particular, lobster and crab exports to this market made a breakthrough, in which lobster increased 11 times and crab increased 7 times compared to the same period in 2023. In the first quarter, Vietnam’s whiteleg shrimp exports to China increased 2.5 times over the same period.
Shrimp and crab export turnover to Japan also has positive signs; Of which, whiteleg shrimp exports to Japan increased by 20%, crab exports increased by 23%. In addition, Vietnamese pangasius is increasingly popular in Japan. In the first quarter of 2024, pangasius exports to this market increased by 25%. Japan also targets the Vietnamese market to process seafood products such as salmon, scads, saba fish… Recently, Japan is actively looking for partners to process scallops for this market. after China – Japan’s important scallop processing partner – banned seafood imports from Japan.
In contrast, the EU and Korean markets have not yet shown clear signs of recovery for Vietnamese shrimp and pangasius, but tuna exports to these markets are growing well, up 27% in the EU respectively and 15% with Korea.
In the first quarter of 2024, the average export price of aquatic products generally increased compared to the end of 2023, but remained at a low level. Businesses expect that after the international seafood fairs in the US, EU, and Japan, orders will improve and export prices will gradually improve.
However, the seafood export market still has challenges, barriers and competitive pressures with other countries, the IUU yellow card issue in the EU market, anti-subsidy taxes in the US,… Therefore, businesses Vietnam needs to be ready to face challenges and overcome barriers, but it also needs to proactively seek customers from international seafood fairs and exhibitions in the US, Europe, Japan, and Korea. Nation to be able to recover and break through sooner.
(Source: https://daidoanket.vn/)