ANN/VIETNAM NEWS – Vietnam experienced a steady recovery in seafood exports over the first eight months of the year, with both demand and prices improving.
According to the Vietnam Association of Seafood Exporters and Producers (VASEP), the export value reached nearly USD6.3 billion, marking a nearly nine per cent increase compared to the same period last year.
In August, the growth rate accelerated to 20 per cent, bringing the monthly value close to USD953 million.
VASEP reported that, apart from squid and octopus, whose export turnover decreased by 15 per cent in August, the exports of all other key products had double – or triple-digit growth.
Shrimp exports rose by 30 per cent, pangasius by 18 per cent, tuna by 13 per cent and other marine fish by 12 per cent.
During the first eight months, shrimp exports reached USD2.4 billion, up nine per cent year over year, including USD1.75 billion from white-leg shrimp and USD290 million from black tiger shrimp.
Lobster alone maintained good growth momentum in August, so the lobster export turnover in the first eight months was 140 per cent higher than the same period in 2023. VASEP said that shrimp exports are showing a positive trend, with stable growth in recent months, though they are facing challenges from anti-subsidy and anti-dumping taxes. Shrimp consumption has begun to increase in Europe and the United States (US), which is a positive sign for the market, although the price of shrimp exported to China is still low.
Pangasius exports in the first eight months increased by nine per cent on year to USD1.3 billion. Exports to China remained stagnant, but the recovery of the US market was a lever for pangasius exports to grow. The exports to the US surged by 23 per cent over the same period last year, while the exports to China decreased by three per cent.
