Vietnam's seafood exports in April dropped by nearly 30%
Seafood
Vietnam
Published May 5, 2023
Tridge summary
According to the Vietnam Association of Seafood Exporters and Producers (VASEP), seafood exports in April 2023 continued to decline by 28% over the same period in 2022, reaching only US$810 million. 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, seed and fish. other basic costs. By the end of April 2023, seafood exports reached over $2.6 billion, 31% lower than the same period in 2022.
Original content
Ms. Le Hang, communications director of VASEP, said that the US market is getting deeper and deeper into the situation where food prices increase and consumption decreases. American families are too "tired" with the fact that food prices are so high. Now, Americans have considered cutting spending on low-value items, they buy less non-essential groceries, buy in bulk, unbranded products, and focus on high-end products. Staples. Some people even buy and eat less in general. Consumers are looking to spend only on the goods they really need. 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 the same period. Exports to China, despite having a better signal, have not yet recorded a positive growth compared to the same period in 2022. The ...
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