Why can't Vietnam increase seafood exports to China?

Published 2023년 5월 10일

Tridge summary

Vietnamese seafood exports to China saw a 27% decrease in the first quarter of 2023, with a total of nearly US$240 million. This decline was primarily due to a significant drop in pangasius exports. However, dried anchovies and black tiger prawns experienced increases. China's overall seafood import volume and value grew by 17% and 13% respectively compared to the same period in 2022. The imports were predominantly frozen seafood, with a substantial increase in processed seafood for export. Vietnamese seafood businesses are optimistic about a recovery in exports to China, given the expectations of a sharp rise in China's seafood consumption in 2023, post-COVID-19 lockdowns.

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

Original content

In the first quarter of 2023, Vietnamese seafood exports to the Chinese market decreased by 27% compared to the same period last year, reaching nearly US$240 million. In February alone, exports grew by 24%, while in January and March, the negative growth was 60% and 39%, respectively. The top 5 seafood exports to China include pangasius, anchovies, white leg prawns, black tiger prawns and surimi. At the same time, pangasius accounts for 55% of seafood exports to this market. Therefore, the decline in pangasius exports to China affected the overall trend. Exports of white-legged shrimps, fish cakes - surimi and many other products also fell sharply. However, exports of dried anchovies to China are gaining momentum, up 50% in the first quarter. Many other dried processed foods, such as yellow perch and dried shrimp, have increased export value. In addition, black tiger prawns are also recovering their export value in China with a 46% increase over the same period. With more than 1 ...

Source: Fishretail