Vietnam's seafood exports to China continuously decline

According to VASEP, Vietnam's seafood exports to China have continuously recorded a decline since February due to the effects of inflation and supply competition. VASEP assessed that exports of tuna, pangasius, crab, and shellfish of all types all recorded positive growth. However, shrimp exports are equivalent to April 2023 and exports of squid, octopus and some other marine fish species are still lower than the same period. Cumulatively in the first 4 months of 2024, seafood exports will reach a total of 2.7 billion USD, up 6% over the same period in 2023. In terms of markets, among the top 5 largest importing countries, only exports to Japan and Korea increased slightly in April, while exports to the EU and US were only at the same level or decreased slightly, in particular, Exports to China decreased by over 22%. VASEP experts assess that, in general, markets are still affected by inflation and inventory, so imports are still cautious. Typically, the Chinese market has ...