Vietnam: Export of shrimp and pangasius with unknowns from the U.S. market

Frozen Common Shrimp & Prawn

Published Nov 3, 2023

Tridge summary

Seafood exports in Vietnam have experienced a slight decrease, with revenues down 20% compared to the same period last year. However, pangasius exports have shown positive signs following positive feedback on food safety and lower tax rates in the US market. In China, while overall demand for pangasius has decreased, sales of breaded pangasius fillets are increasing. Meanwhile, shrimp exports are facing difficulties due to lower import prices and a worldwide surplus, and the Vietnamese shrimp industry may face more challenges if a lawsuit proceeds against subsidies on shrimp products from Vietnam. Tuna and crab exports have shown positive growth, while efforts to package seafood products in smaller sizes are expected to stimulate better demand.

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Original content

Good signal for pangasius products According to the Vietnam Association of Seafood Exporters and Producers (VASEP), seafood exports in October 2023 are estimated to reach over 863 million USD, a slight decrease of 5% compared to the same period in 2022. By the end of October, seafood exports Revenue was nearly 7.5 billion USD, down 20% over the same period last year. According to analysis by Ms. Le Hang, Communications Director of VASEP, pangasius exports in October reached 189 million USD, a slight increase of 5% over the same period in 2022. By the end of October, pangasius exports reached over 1.5 billion USD. USD, down 28% over the same period last year. Export of this key product is showing more positive signs after positive information about the US market. After the FSIS inspection program, Vietnamese pangasius was rated good for food safety. In addition, preliminary results for the 19th review (POR19) for Vietnamese frozen pangasius fillets exported to the United States ...

Source: Vinanet