Vietnam: Aquaculture production to niche market increased sharply

Published 2021년 9월 22일

Tridge summary

Vietnam has seen a significant shift in its seafood export markets due to the impact of Covid-19, with exports to key markets falling by 35-45% in August compared to the same period last year. However, exports to niche markets have surged, with Mexico, the Philippines, Spain, Egypt, and Portugal experiencing the most growth. Mexico's imports of Vietnam's main products, pangasius and tuna, have nearly doubled. Meanwhile, Spain and Portugal, with a focus on tuna and bivalve molluscs, have also seen substantial increases. The Vietnam Association of Seafood Exporters and Producers (VASEP) highlights that these niche markets now account for 8-10% of the total export turnover, offering a strategy for businesses to mitigate the effects of logistical challenges and high freight rates affecting major markets.

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Original content

Statistics of the Vietnam Association of Seafood Exporters and Producers (VASEP) show that seafood exports in August to key markets such as China, Japan, Germany, the Netherlands, Belgium, Denmark, UK, Canada, Australia down from 35-45% over the same period last year. In the opposite direction, seafood exports to niche markets grew rapidly. Specifically, seafood exports to Mexico increased by 72%, the Philippines increased by 58%, Spain by 48%, Egypt by 38%, Portugal by 14%... In the Mexican market, the main export products to this market are pangasius and tuna. In August, seafood to Mexico reached 5.7 million USD, of which pangasius accounted for 67% with 3.84 million USD, up nearly 49% over the same period last year, tuna accounted for 29% with 1.65 million USD. USD, increased sharply by 263%. In the first 8 months of the year, seafood exports to Mexico reached over US$59 million, up 77% over the same period last year. In the Spanish and Portuguese markets, the main export ...

Source: VNExpress