Vietnam: In 2024, seafood exports will gradually recover
Seafood
Vietnam
Market & Price Trends
Published Jan 9, 2024
Tridge summary
In 2023, Vietnam is expected to have a seafood output of 9.23 million tons, with a decrease in export results to only 9 billion USD. Difficulties are forecast to continue into 2024 due to various global economic and geopolitical factors, which will affect seafood production and export. However, positive factors such as an increase in outsourcing and the resolution of pangasius inventory issues may lead to a gradual recovery in seafood exports, with a predicted turnover of 9.5-10 billion USD in 2024.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.
Original content
According to data from the Department of Fisheries (Ministry of Agriculture and Rural Development), it is estimated that in 2023, the total seafood output will reach more than 9.23 million tons, an increase of 2% compared to 2022. Of which, the exploitation output will reach more than 3.8 million tons. million tons; Farming output reached more than 5.43 million tons. In 2023, the world economic context will have many difficulties, high inflation should reduce consumption demand, large inventories, and reduced export prices will cause seafood export results to only reach 9 billion USD, down 17% compared to the year. 2022. According to the Vietnam Association of Seafood Exporters and Producers (VASEP), entering 2024, many difficulties are forecast to continue to dominate the situation of seafood production and export. Ms. Le Hang, VASEP Communications Director, said inflation in major countries has been controlled, the world economy has bottomed out, but the recovery speed is slow, ...
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