Vietnam: The demand for seafood consumption of Americans exploded after controlling the COVID-19 epidemic

Published 2021년 6월 3일

Tridge summary

Vietnam's seafood exports, including shrimp, tuna, and other aquatic species, are experiencing significant growth in the EU and CPTPP markets. The US market has seen a particular surge in demand, with pangasius exports increasing by 136% in April and 200% in May. Tuna exports to the US reached 130 million USD in May, up 17% year-over-year, and shrimp exports were estimated at 270 million USD in the first five months of the year, up 21%. However, Vietnam faces competition in the US market from Ecuador and Indonesia, and the potential for increased competition from India, which may recover from COVID-19.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

According to the American Association of Seafood Exporters and Producers (VASEP), the EU and CPTPP markets dominate Vietnam's seafood export growth. The rapid and widespread deployment of the COVID-19 vaccination campaign along with the timely economic stimulus package of the US Government have provided the impetus for the country's seafood consumption demand to recover rapidly, not only in the retail segment but also service channels, restaurants, hotels, entertainment... After a period of being suppressed due to social distancing against COVID-19, the consumption demand of Americans exploded. In addition to items such as shrimp, tuna, and salmon, which are the preferences and consumption habits of Americans, other aquatic species such as catfish, squid, octopus, crabs and bivalve molluscs such as clams , mussels… also increased significantly. Notably, pangasius exports to the US increased by 136% in April and increased by about 200% in May to USD 33 million. Accumulated in the ...

Source: Vietnambiz