Vietnam's seafood exports recovered in the first half of the year

Published Jul 25, 2024

Tridge summary

The Vietnam Association of Seafood Exporters and Producers (VASEP) reported a 6% increase in seafood export turnover for the first half of the year, reaching 4.4 billion USD. Key products such as shrimp, pangasius, and tuna showed strong recovery, with shrimp exports at 1.6 billion USD, pangasius at 918 million USD, and tuna at 472 million USD. Crabs and crustaceans experienced significant growth of 75%, totaling over 125 million USD. This recovery is driven by increased demand from major markets like the US, China, EU, and Australia. However, the industry faces challenges including competition from Ecuadorian and Indian shrimp, disease outbreaks, and new regulations affecting tuna production. VASEP recommends regulatory adjustments and cost control measures to address these issues.

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Original content

A report by the Vietnam Association of Seafood Exporters and Producers (VASEP) shows that in the first half of the year, seafood export turnover reached 4.4 billion USD, up 6% over the same period last year. Key products such as shrimp, pangasius and tuna all show signs of strong recovery. Specifically, shrimp exports reached 1.6 billion USD, pangasius reached about 918 million USD, and tuna reached 472 million USD, up 6%, 5%, and 23% respectively compared to the first half of 2023. In particular, Crabs and crustaceans achieved spectacular growth, with a turnover of more than 125 million USD, up 75% over the same period last year. According to VASEP, this recovery is mainly due to large markets such as the US, China, EU and Australia increasing purchases, with an increase of 6-9%. Shrimp export businesses said that China - a market of billions of people - imported shrimp strongly in the first half of the year, with a turnover of 328 million USD, up 17% over the same period last ...

Source: VNExpress