Vietnam: Seafood exports to the US, China, and Japan all exceeded the 1 billion USD mark

Seafood

Vietnam

Market & Price Trends

Published Oct 3, 2023

Tridge summary

The Vietnam Association of Seafood Exporters and Producers (VASEP) reported that in September 2023, key seafood products such as shrimp, tuna, and pangasius showed signs of recovery compared to the same period in 2022. Despite still being lower than previous years, exports of squid, octopus, crabs, and shellfish only decreased by 6-12%. The US and China have increased their demand for seafood, leading to positive growth in exports to these markets, and other markets like Japan, Australia, and Canada have also seen an increase in shrimp imports from Vietnam. VASEP predicts that if there are no major changes, seafood exports in 2023 could generate sales of around $9.2 - $9.3 billion USD.

Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

The Vietnam Association of Seafood Exporters and Producers (VASEP) said that in September, a number of key products regained balance compared to the same period last year. In particular, shrimp and tuna exports in September both reached levels equivalent to September 2022. Notably, the recovery of pangasius products with a positive growth rate of 9% compared to the same period last year. Exports of other products such as squid, octopus, crabs, and shellfish are still lower than the same period, but the decrease is only 6-12%. By the end of September 2023, shrimp exports reached 2.55 billion USD, still 25% lower than the same period in 2022. However, export results in recent months have shown signs of recovery compared to previous months. . The two main markets, the US and China, have begun to increase demand and exports to these two powers have both recorded positive growth in the past 2 months. Some main markets in the CPTPP bloc such as Japan, Australia, and Canada are also ...

Source: Vietstock