Starting from 2024, Vietnam’s aquatic product exports will pick up significantly

Seafood

China

Vietnam

Market & Price Trends

Published Mar 25, 2024

Tridge summary

Vietnam's seafood exports have started to recover in 2023, with a 64% year-on-year increase in January, following a recession in Q4 2022. Despite a 8% drop in February due to the Spring Festival, there has been a significant increase in shrimp and tuna exports by 37%, pangasius by 15%, and other seafood by 8%. However, cephalopod exports saw a slight decrease of 1%. Positive growth has been observed in Vietnamese shrimp exports to markets such as the United States, Canada, China, Japan, and Australia. The pangasius market is also recovering, although export prices to China remain low due to inventory issues and oversupply.

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

Since the fourth quarter of 2022, Vietnam's seafood exports have fallen into recession and have begun to rebound this year. Exports increased significantly by 64% year-on-year in January and dropped 8% year-on-year in February (mainly due to the Spring Festival). VASEP said: "After the Spring Festival, demand usually levels off, so exports to China will not be as strong. But Ramadan has begun, and demand for seafood in Western countries has recovered. As of the end of February, shrimp and tuna exports A year-on-year increase of 37%, pangasius increased by 15% year-on-year, other seafood increased by 8%, and cephalopod exports decreased slightly by 1%." VASEP said that Vietnamese shrimp product exports have shown positive signs in many markets such as the United States, Canada, China, Japan and Australia, and have achieved good returns in the Chinese market, partly due to the "sodium metabisulfite" problem in Ecuadorian shrimp. In the United States And in the European ...

Source: Foodmate