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Seafood exports in Vietnam continued to fall by 28% in April, exports to the US fell sharply

Seafood
Vietnam
Published May 6, 2023

Tridge summary

Seafood exports in April 2023 continued to decline by 28% over the same period in 2022, reaching only 810 million USD. Seafood enterprises are still under heavy pressure because the consumption market has plummeted, export prices have plummeted while domestic production and processing are burdened with high production costs, especially feed and seed. and other basic expenses.

Original content

By the end of April 2023, seafood exports reached over $2.6 billion, 31% lower than the same period in 2022. US market fell sharply According to the Vietnam Association of Seafood Exporters and Producers (VASEP), the US market is increasingly sinking into the situation of rising food prices and decreasing consumption. American families are too "tired" with the fact that food prices are so high. “Now that Americans are thinking about cutting spending on low-value items, they buy less non-essential groceries, buy bulk and unbranded products, and focus on staple items. Some people even buy and eat less. Consumers are finding ways to only spend on the goods they really need,” VASEP said. That situation caused Vietnam's seafood exports to the US to maintain a deep drop of 51% in April, making the US fall to the 3rd position in seafood import markets, after Japan and China. In the first four months of 2023, seafood exports to the US were estimated at US$418 million, down over 57% over ...
Source: Vietstock
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