Vietnam: The country's seafood exports are unlikely to make a breakthrough in the short term

Seafood

Vietnam

Market & Price Trends

Published Oct 3, 2023

Tridge summary

Seafood export turnover in September 2023 is estimated to reach $862 million, showing a slight increase of $16 million compared to the previous month and remaining equivalent to the same period in 2022. Despite a 22% decrease in seafood exports during the third quarter of 2023 compared to the same period last year, certain key export products such as shrimp and tuna have regained balance and reached levels equivalent to September 2022. The top three largest markets for seafood exports, including the US, China, and Japan, all exceeded $1 billion in sales by the end of September 2023, with the US maintaining its position as the leading market despite a 33% decrease compared to the same period in 2022.

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

Information from the Vietnam Association of Seafood Exporters and Producers (Vasep), seafood export turnover in September 2023 is estimated to reach 862 million USD, equivalent to the same period in 2022 and a slight increase of 16 million USD compared to the previous month . Accumulated by the end of the third quarter of 2023, seafood exports reached over 6.6 billion USD, down 22% over the same period. Specifically, in September, a number of key export products regained balance compared to the same period last year; Of which, 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%. Ms. Le Hang, Director of Communications of Vasep, analyzed that by the end of September 2023, shrimp exports reached ...

Source: Vietstock