Which are the 5 Chinese localities that are buying the most Vietnamese seafood?
Seafood
China
Vietnam
Market & Price Trends
Published Nov 23, 2023
Tridge summary
According to experts from VASEP, the Chinese market is becoming increasingly important for Vietnamese seafood companies. In 2022, seafood exports to China reached a record high of $1.6 billion, but in 2023, exports are expected to decline due to reduced prices and high inventory. However, there are still opportunities for growth in the Chinese market for certain seafood species like shrimp, fish, and octopus.
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 experts from the Vietnam Association of Seafood Exporters and Producers (VASEP), the Chinese market holds an increasingly important position for Vietnamese seafood enterprises. In recent years, China has been in the top 3 import markets for Vietnamese seafood, second only to the US and Japan. In 2023, seafood exports to China will decline because of reduced export prices, but the prospects and space in this market are still open for seafood export businesses. In 2022, Vietnamese seafood exports to China reach 1.6 billion USD, an increase of 66% - record sales and record growth, after falling to 990 million USD in 2021 due to restrictions caused by the Covid epidemic. -19. In 2023, seafood exports to China will also encounter problems like other markets: falling prices, high inventory, so in the first 9 months of 2023, seafood export revenue to this market will decrease by 18%, reached 1 billion USD. The products with the highest proportion, pangasius (40%) and shrimp, ...
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