Opportunities and challenges for Vietnam's seafood exports by the end of 2024

Published 2024년 10월 22일

Tridge summary

The Vietnam Association of Seafood Exporters and Producers (VASEP) aims for a seafood export target of 10 billion USD in 2024, having reached 7.7 billion USD by September. Key exports like shrimp, pangasius, and tuna hold strong global positions, with shrimp exports exceeding 2.8 billion USD. Despite challenges such as disease outbreaks and competition from Ecuador, Vietnam's seafood industry leverages advanced processing technology and value-added products. Internal issues like tuna size regulations impact raw material supply, prompting Vietnamese companies to explore cost-saving strategies and new markets in South America and the Middle East. There's also a focus on strengthening the domestic market to lessen export reliance.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

According to the forecast from the Vietnam Association of Seafood Exporters and Producers (VASEP), the seafood export target for the whole year of 2024 is 10 billion USD, and as of September, the turnover has reached about 7.7 billion USD. Key products such as shrimp, pangasius and tuna continue to affirm their position in the international market. In which, shrimp is the leading product with an export value of more than 2.8 billion USD, followed by pangasius with more than 1.6 billion USD and tuna with nearly 800 million USD. Mr. Nguyen Hoai Nam, Deputy General Secretary of the Vietnam Association of Seafood Exporters and Producers, said that the strong increase in consumption demand at the end of the year will boost seafood exports, especially products with green and environmentally friendly certifications. The seafood industry also faces many challenges such as the disease outbreak with shrimp affecting the source of raw materials for processing, in addition to competition ...

Source: Voh