Exports of fish and seafood from Vietnam again reached a record

Published 2022년 12월 1일

Tridge summary

The Vietnamese aqua culture industry has experienced a notable growth from January to October 2022, with a total export turnover of nearly $11 billion, marking a record high. The pangasius industry saw a significant increase in both revenue and average export price, contributing to 23% of the total exports. The shrimp sector also had a strong performance, despite a slight decrease in growth from the previous year. Tuna exports are on track to reach a record $1,000 million. However, the industry faces challenges such as inflation, rising production costs, market slowdown, and difficulties in securing capital and access to credit. Additionally, the industry is grappling with a lack of labor and the negative impact of the yellow label for IUU fishing on exports to the EU market.

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

Original content

From the beginning of the year until the end of last October, the pangasius industry reached a turnover of $2.1 billion, accounting for almost 23% of exports (17% in 2021). The average export price increased by more than 50%. The shrimp sector, with nearly $3.8 billion, accounted for 40% of exports, down 5% from the same period in 2021. Shrimp exports increased significantly in the first five months of the year and then slowed down due to lower demand. The average export price has not risen as much as that of pangasius due to strong competitive pressure from Ecuador and India. Tuna exports in 2022 are sure to reach a record figure of $1,000 million. At the end of October, the sector received $884 million from exports, representing 9.4% of total seafood exports compared to 8.4% in the same period last year. Exports of squid and octopus reached $630 million (squid $354 million, octopus $277 million), exports of other species (salmon, anchovies, sea bass, pollock, herring, cod) ...

Source: Fishretail