Vietnam's seafood exports recorded the highest month since the beginning of the year

Published 2023년 6월 22일

Tridge summary

A recent report by the Vietnam Association of Seafood Exporters and Producers (VASEP) has revealed a 29% decrease in seafood exports in the first five months of the year compared to the same period in 2022, totaling around 3.4 billion USD. Despite this decline, May 2023 saw the highest export turnover of the year at over 808 million USD. The report highlights a variety of declines in key seafood products, with the exception of anchovies, scad, and goldfish. Factors contributing to the decline include inflation, increased inventories, and market competition. The market outlook for the latter half of the year is uncertain due to potential fluctuations in supply and demand caused by wars and inflation. Additionally, high input costs and low selling prices are concerns for businesses, with the potential for farmers to abandon ponds, leading to a lack of raw materials for export processing.

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

Original content

A report released today (June 21) of the Vietnam Association of Seafood Exporters and Producers (VASEP) said that seafood exports in the first five months of this year were 29% lower than the same period last year, only 29% lower than the same period last year. about 3.4 billion USD. However, in May 2023, the export turnover of seafood reached over USD 808 million, the highest since the beginning of the year, showing a signal that the market is getting better. Key commodities gradually reduced the decline over the same period. Exports to the US, EU, China, Japan, and South Korea markets all achieved the highest sales from the beginning of the year so far. However, in general terms, exports of main seafood products in the first five months of 2023 all decreased by 10-20% compared to the same period last year. In which, pangasius decreased the most by 40%; shrimp down 34%; tuna down 31%; octopus squid down 12%. However, there are some types of marine fish that recorded positive ...

Source: Vietstock