Vietnam suddenly collected 40 million USD by selling a popular fish to the US and Japan

Published Apr 4, 2022

Tridge summary

The article highlights the significant market demand for herring fish from Vietnam, with the US, Thailand, Japan, and South Korea being the top consumers. Despite the overall seafood export revenue decline in 2021, herring exports reached $37.5 million, with the top five markets contributing 76% of the value. There has been a notable increase in herring exports to Thailand and Japan, becoming the largest market in 2021. The early months of 2022 have seen a rise in herring exports to Japan by 35%, despite export challenges expected from a new Japanese regulation requiring capture fishery certificates effective December 2022 for herring and three other seafood products. With a substantial supply and increasing demand, herring exports are projected to see further growth in 2022.

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

Original content

According to information from the Vietnam Association of Seafood Exporters and Producers (VASEP), the US, Thailand, Japan, and South Korea are the markets that are buying a lot of herring from Vietnam, a species of fish that is abundant in Vietnam. central coast. VASEP said that while raw materials for many seafood species are scarce, herring and anchovies are still Vietnamese products available for domestic fishing. Especially in the first months of this year, fishermen in the central provinces have a lot of herring, creating a source of raw materials for processing enterprises to export to markets. In 2021, Vietnam's herring export turnover to markets will reach 37.5 million USD, down 9% compared to 41 million USD in 2020. There are 30 markets that are buying herring products from Vietnam, but the top 5 markets account for a dominant proportion, nearly 76% of export value are the US, Thailand, Japan, Korea and Australia. Notably, herring exports to Thailand in 2021 increased to ...

Source: Danviet