News

China accelerates purchases of live crabs and crabs from Vietnam, purchasing power increases by 101%

Published May 23, 2024

Tridge summary

In April 2024, Vietnam's seafood exports experienced a 4.7% increase compared to the same month in 2023, totaling 776 million USD, and marked a 6% rise in the first four months of the year, reaching 2.7 billion USD. This growth is largely due to a recovery in the US and Chinese markets, with significant increases in exports to Canada, Germany, the Netherlands, and Russia. Shrimp exports saw positive signs of recovery with the highest level since the year's start, while pangasius and tuna exports also showed positive trends. However, squid and octopus exports declined in April. Crab exports experienced a 101% growth, largely to China, but the industry faces raw material supply issues. New regulations from Decree 37/2024 and EU market regulations also pose challenges. Experts predict that with increasing demand and controlled inflation, seafood exports are likely to continue their growth in the coming months, provided that bottlenecks in seafood raw materials and shrimp and pangasius are resolved.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

According to statistics from the General Department of Customs, in April 2024, Vietnam's seafood exports reached 776 million USD, an increase of 4.7% over the same period in 2023, after a decrease of 3% in the previous month. Cumulatively in the first 4 months of 2024, seafood exports will reach a total of 2.7 billion USD, up 6% over the same period in 2023. Comments from the Import-Export Department (Ministry of Industry and Trade) show that Vietnam's seafood exports increased again in April 2024 when exports to the US increased more strongly, while exports to China recovered again. , up 4.6% after a decline of 16.4% the previous month. Notably, Vietnam's seafood exports to many markets grew positively such as: Canada increased by 45.6%, Germany increased by 52.2%, the Netherlands increased by 32.7%, and Russia increased by 73.2%. .. For each item, with a turnover of 285 million USD, there was no growth over the same period, but shrimp exports in April 2024 still reached the ...
Source: Danviet
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