Vietnam’s tilapia export revenue to fall by 42% in 2023

Published Feb 28, 2024

Tridge summary

Vietnam's tilapia exports are projected to drop by 42% to just over $6 million by 2023, with the European Union being the primary consumer, particularly the Netherlands. The United States is the second largest market for Vietnam's tilapia, however, it faces stiff competition from China, which is the leading supplier of frozen tilapia to the US. There has also been a significant decrease in Vietnam's tilapia exports to other countries such as Japan, Belgium, Italy, and the UK.

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

Original content

According to news from SeafoodMedia on February 21, Vietnam’s tilapia exports will exceed US$6 million in 2023, a year-on-year decrease of 42%. The EU is still the largest consumer market for Vietnam’s tilapia, with export earnings of US$2 million, a decrease of 34% from 2022. In the EU market, the Netherlands is the largest export destination, with export revenue of US$1 million, a year-on-year increase of 10%. The United States is Vietnam’s second largest export market for tilapia. Last year’s export revenue to it was US$1 million, a year-on-year decrease of 71%. However, the monthly export volume in December was US$200,000, a year-on-year increase of 78%. Frozen tilapia is the most popular among American consumers. In the first 11 months of last year, the United States purchased 84,822 tons of frozen tilapia slices from the global market, an increase of 13% year-on-year. China is the largest ...

Source: Foodmate