Seafood exports in first half reach more than $4.1 billion

July 03, 2021 | 08:54
Vietnam's seafood export turnover in the first half of the year reached more than $4.1 billion, making the $8.8-9 billion target for the whole year feasible.
Seafood exports in first half reach more than $4.1 billion
The seafood sector aims to get $8.8-9 billion in exports this year. Photo: Le Toan

According to the Vietnam Association of Seafood Exporters and Producers (VASEP), recovery in the demand in the two major markets of the United States and the EU market as well as exports to potential markets have brought about $4.1 billion of turnover to the sector.

Of this, exports in June continued to increase 20 per cent on-year, reaching $865 million. In particular, shrimp exports in June reached about $402 million, up 15 per cent, bringing the total turnover of the first six months to $1.7 billion, up 13 per cent over the same period last year.

Important markets such as the US, Japan, South Korea, and Germany are increasing shrimp imports from Vietnam. Shrimp exports to the US grew 45-46 per cent on-month, while they increased 17 per cent to Japan, 10 per cent to South Korea, 60 per cent to Germany, and 15 per cent to the UK.

Except for the US and China markets, Vietnamese shrimp ranked first in most markets, generating a higher turnover than other countries.

In the US, Vietnamese shrimp export (8.5 per cent) ranked behind India (33 per cent), Indonesia (25 per cent), and Ecuador (15 per cent). This is the largest shrimp import market, accounting for 30 per cent of world shrimp exports and 22 per cent of Vietnamese shrimp exports.

Meanwhile, shrimp exports to China dropped due to strict regulations on frozen seafood imports.

Pangasius exports in the first half reached $788 million, up 18 per cent compared to the same period last year, with a breakthrough in small markets.

Pangasius exports to the US and some small markets are recovering strongly, with exports to the US increasing by over 170 per cent, accounting for 21 per cent.

Pangasius exports to Mexico, Brazil, the United Kingdom, Thailand, the Netherlands, Colombia, and Russia all rose 100-450 per cent. Each of these markets account for about 2.5-4 per cent of Vietnam's pangasius export value.

VASEP claimed that these markets will be potential destinations for Vietnamese pangasius, offsetting the decline in China. Specifically, Vietnamese pangasius to China has dropped and will continue to decrease by 5-7 per cent in the coming months.

Despite the decline, China still accounts for the highest proportion, with 26 per cent of Vietnam's pangasius exports. Therefore, the congestion of this market is significantly affecting the export of Vietnamese enterprises.

By Hong Phuc

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