Inflation forces Vietnamese seafood exporters to focus on Asia

Frozen Whole Catfish

Frozen Common Shrimp & Prawn

Seafood

Vietnam

Published Dec 3, 2022

Tridge summary

Vietnam's seafood exports to China surged ahead of the Chinese New Year, and the Regional Comprehensive Economic Partnership helped boost Vietnam's shipments to Japan, according to the Vietnam Seafood Exporters and Producers Association (VASEP).

Original content

Vietnam exported $907.4 million (€871 million) of seafood in October, up 1.8% year-over-year and 5.2% up September, according to the latest customs data. . Sales to China reached US$141 million (€135.3 million), up 60.8 percent year on year, while sales to Japan increased 32.4 percent year on year to US$160.6 million (154. 2 million euros). Sales to Thailand also rose 35.8 percent year on month to $29.4 million (€28.2 million). However, the value of exports to non-Asian markets declined, with US sales down 31.7% year-on-year to US$150.5m (€144m), UK sales down 10.2% to 29. US$4 million (€28.2 million); and sales in Canada were down 29.4 percent year on year to US$22 million (€21.1 million). The shrimp sector in Vietnam typically posts its best export performance of the year in November and December, but its producers struggle to secure raw materials amid high inflation and growing shrimp disease problems in Vietnam. Vietnam's shrimp sales fell to US$313 million (€300.6 million) in ...

Source: Fishretail