Tridge summary
The article provides an overview of the performance of the aquatic product export markets, focusing on the top four markets: the US, China, Japan, and the EU. While the US market experienced growth, exports to China, Japan, and the EU remained stagnant, and South Korea saw a slight increase. The report highlights the challenges faced by the shrimp and tra fish industries, including potential anti-dumping and anti-subsidy lawsuits, low export prices, and uncertainties in the Chinese market. High transportation costs, trade conflicts, and large inventories in the import market further complicate the situation. Despite these challenges, companies are strategizing to diversify markets and products, improve quality, and increase deep processing to enhance the competitiveness of Vietnamese aquatic products. Quality control is emphasized as a key strategy for maintaining market position and ensuring sustainable growth in the industry.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
Market recovery still faces many challenges Among the top four markets, only the US market showed relatively positive signs, with a growth rate of 7%, while exports to China, Japan and the EU were almost the same as the same period last year, and exports to South Korea increased slightly (2%). Specifically, in the first five months of 2024, the export value of aquatic products to the US market reached US$605 million, of which the three dominant commodity categories were shrimp, tuna and catfish. In the first five months of 2024, the export value of aquatic products to China reached US$580 million, a slight decrease of 0.2% from the same period last year. Shrimp and tra fish are the main products exported to the Chinese market, accounting for 42% and 35% respectively. Tra fish exports to China fell sharply by 44%. At the same time , shrimp exports increased by 40% due to strong growth in lobsters and white shrimp. Exports of marine fish products to the Chinese market fell by nearly ...
Source: Foodmate
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