Vietnam: Seafood exports are recovering gradually

Published Jul 4, 2023

Tridge summary

According to VASEP, seafood exports in Vietnam in June 2023 decreased by 21%, with shrimp exports down by 18% and pangasius exports down by 26%. This is due to difficulties in the consumer market and high input costs for producers. The main import markets, such as the US and EU, are affected by inflation and inventories, but VASEP predicts a gradual recovery in seafood exports in the coming months, particularly in markets like Japan, Korea, Australia, and Southeast Asia.
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

According to the Vietnam Association of Seafood Exporters and Producers (VASEP), in June 2023, seafood exports were estimated at nearly $800 million, down 21%. In which, shrimp export is estimated at 341 million USD, the highest level so far this year, down 18% over the same period - this is also the lowest decrease since the beginning of the year. However, accumulated in the first half of the year, shrimp exports reached nearly $1.6 billion, 31% lower than in the first half of 2022. Meanwhile, pangasius exports in June were still 26% lower than the same period last year, reaching about US$156 million. Accumulated in the first 6 months, pangasius exports reached over USD 885 million, 38% lower than the same period last year. VASEP said that in addition to difficulties from the poor consumer market, shrimp and pangasius producers and exporters suffered a decrease in profits because of high prices of feed, seed and input costs. high, while the selling price is low, it is still ...
Source: Vietstock
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