Vietnam: Seafood exports in February decreased sharply

Published 2021년 3월 3일

Tridge summary

Vietnam's seafood exports in February saw negative growth due to the Lunar New Year holiday, but overall, the first two months of 2021 saw a 2.2% increase in export revenue to over $1 billion. The holiday led to a decrease in raw materials and a rise in sea freight costs. Shrimp exports experienced a nearly 40% decrease in black tiger shrimp, but a 14% increase in whiteleg shrimp. Pangasius exports showed positive signs, with increases in January but a decrease in February. The export momentum in the first two months of the year is expected to result in about $640 million in export turnover in March 2021.

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Original content

According to Vietnambiz.vn This negative growth is due to the fact that February this year coincides with the Lunar New Year holiday, the production, exploitation and processing time is less than in February 2020. Thus, accumulated to the end of February, seafood exports reached over 1 billion USD, up 2.2%. In the first 2 months of the year, Vietnam's seafood exports continued to be dominated by the consumption trend of the market in the context of a still serious outbreak of COVID-19. Accordingly, the demand is still leaning towards seafood products with reasonable prices, easy to process, long-term storage, suitable for processing and consumption at home such as: frozen small white shrimp, shrimp processed white leg, fish cake, surimi, fillet sea fish, cut in pieces, dried anchovies, dried squid ... due to the strict control of imported frozen foods in the Chinese market. In addition, VASEP said that the Tet holiday also caused a decline in raw materials, especially seafood ...

Source: AgroInfo.vn