Vietnamese seafood exports soar, many growth prospects

Published 2022년 4월 29일

Tridge summary

Vietnam's seafood exports reached a milestone of over $1 billion per month in March, with a 45.4% increase in the first quarter of 2022 compared to the same period last year, contributing significantly to the country's export growth. The surge is attributed to high market demand and increased seafood prices, with the US remaining the largest market. However, challenges such as high sea freight rates and rising costs of feed and labor could impact future growth. The average price of pangasius, shrimp, and tuna exports to the US saw significant increases, and while the value of pangasius exports is expected to rise in the next quarter, high domestic material prices and other factors could influence future price trends.

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

Original content

Seafood exports for the first time reached more than 1 billion USD/month. According to VASEP, in March, seafood exports reached 1.02 billion USD, up nearly 60% from the previous month. Of which, China increased sharply by 123%; Japan increased by 82%; EU market (27 countries) increased by 62%; The US increased by 57%;..., By the end of the first quarter of 2022, seafood exports reached 2.52 billion USD, up 45.4% over the same period last year, equivalent to 788 million USD. In which, exports to all major markets increased sharply, specifically, to the US reached 574 million USD, up 70.8%; to Japan reached 347 million USD, up 13%; to the EU reached 297 million USD, up 57.4%., Particularly for the Chinese market, the first quarter of 2022 reached the highest level ever with 326 million USD, up 104% over the same period last year. According to customs authorities, the export of this group of goods contributed the 4th largest contribution to the increase in export of the whole country ...

Source: VNRuralEconomics