Two reasons why seafood exports to the EU will slow down in the second half of the year in Vietnam

Published Jul 26, 2021

Tridge summary

Vietnam's seafood exports to the EU market experienced a 20% increase in the first half of 2021, totaling over US$ 486 million, with caught seafood products up 24% and aquaculture up 18%. Shrimp products, especially whiteleg and black tiger shrimp, dominated with a 52.5% market share. While pangasius exports were down 18%, other crustaceans, squid, octopus, clams, tuna, and other marine fish saw significant increases. The EU is the fourth largest seafood export market for Vietnam, with the Netherlands, Germany, Belgium, and Italy being the main consumers. Despite the Covid-19 outbreak and IUU yellow card issue, exports are expected to reach about 600 million USD in the second half of the year, resulting in an estimated total export value of 1,087 billion USD for 2021, a 13% increase from 2020.

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

Original content

According to statistics of the General Department of Customs, in the first 6 months of 2021, Vietnam's seafood exports to the EU market increased by 20% to over US$ 486 million, of which, exports of caught seafood products increased by 24% to 154 million. USD (accounting for 32%), aquaculture increased by 18% to USD 333 million (accounting for 68%). Among seafood products exported to the EU, shrimp products accounted for the highest proportion with 52.5% of the total seafood turnover to the EU with 256 million USD, up 27% over the same period last year. In which, whiteleg shrimp alone is over 205 million USD, up 31%, black tiger shrimp 36.5 million USD, up 15%, the rest are marine shrimp and lobster. According to the analysis of Ms. Le Hang, Deputy Director of VASEP.PRO Center, while the EU market is recovering in demand, the export of aquatic products to these countries has increased, while pangasius exports are still down 18% compared to that of the EU market. the same ...

Source: Vinanet