Welcome   Sponsored By
Subscribe | Register | Advertise | Newsletter | About us | Contact us

Photo courtesy from VASEP

Vietnam seafood exports in July slowed down, reaching less than 1 billion USD

Click on the flag for more information about Viet Nam VIET NAM
Friday, August 05, 2022, 07:00 (GMT + 9)

After reaching “hot” growth from 39% to 62% in the first 4 months of the year, Vietnam seafood exports since May showed signs of cooling down. Accordingly, seafood exports increased by 34% in May and by 18% in June. Seafood exports in July continued the trend with the export value of 970 million USD, increasing by 14% compared to the same period in 2021 but decreasing 4% compared to the previous month.

The export deceleration in May can be explained by the unfavorable weather. Rainfall earlier than usual affects the fishery production and causes disease in farmed shrimp, leading to a decrease in shrimp production. At the same time, the inventories from 2021 have also been depleted.

Particularly, shrimp exports in June decreased by 1% compared to the same period last year because of the shortage of raw materials. In July, shrimp exports continued to decrease by nearly 13% to reach 385 million USD. Accumulation of  7 months, shrimp exports brought in 2.65 billion USD, rising  22% over the same period last year.

Photo courtesy from VASEP

Shrimp production and the world shrimp demand are not  expected to be  positive in the last 6 months of the year. Shrimp production from other suppliers increased sharply while import volume of major markets such as the EU and US are slowing down because of high inventory and decrease in demand. Meanwhile, the domestic production of raw shrimp is facing difficulties due to the adverse weather and rising production costs. As a result, Vietnam would experience  a shortage of raw shrimp in the second half of the year.

Unlike the shrimp, the source of raw materials for pangasius is not a big problem. However, the demand also tends to decrease in some markets. Therefore, Vietnam’s pangasius exports also slowed down in the second quarter. In July, pangasius exports reached 197 million USD, an increase of 56%. Accumulated until the end of July, pangasius  exports reached over 1.6 billion USD, up 79% over the same period last year.

Photo courtesy from VASEP

Price inflation and the trend of increasing export prices have led to a decrease in  demand in major markets to adapt to  the changes. However, pangasius is still an advantageous commodity when inflation is too high in many markets. Consumers will tighten their spendings and switch to more affordable products such as frozen pangasius fillets or fish cakes, surimi as well as some other frozen products, etc.

Exports of tuna, other marine fishes and cephalopod still maintained a high growth rate of 37-44% in July. By the end of July 2022, Vietnam tuna exports increased by 53% to 641 million USD. Exports of cephalopods increased by 31% to 417 million USD, other marine fishes increased by 16% to over 1.1 billion USD.

The increase in inventories along with inflation has affected the import demand of the US since June. Consequently, Vietnam's seafood exports to this market decreased by 8% in June and continued to fall deeply by 23% in July. Accumulating the first 7 months of the year, exports to the US reached nearly 1.5 billion USD, 31% increase over the same period last year.

Photo courtesy from VASEP

Exports to the EU still maintained a growth rate of 28% in July.  Accumulated in 7 months, Vietnam seafood exports to the EU reached 829 million USD, an increase of 39% over the same period in 2021. Seafood exports to China after 7 months have reached 1 billion USD, increased by 71% over the same period in 2021.

Scarcity of raw materials for shrimp and seafood will continue to affect Vietnam's seafood export results in the third quarter. Accordingly, Vietnam’s seafood exports in the  third quarter is forecasted to grow slower than the second and first quarters, estimated at about 3 billion USD.

Source: VASEP

[email protected]


Click to know how to advertise in FIS
Aug 11, 07:10 (GMT + 9):
Genetically edited, sterile salmon was similar to other farmed salmon in both health and omega-3
Aug 11, 07:00 (GMT + 9):
SSP giant jumbo shrimp reaches Chilean market
South Korea
Aug 11, 07:00 (GMT + 9):
Korean octopus imports continue to rise
Aug 11, 07:00 (GMT + 9):
FHF Project: Microbiological quality of whitefish roe
Aug 11, 07:00 (GMT + 9):
Chinese Retailer Qdama Commits to Sourcing BAP Seafood
United Kingdom
Aug 11, 07:00 (GMT + 9):
Protection of migrating wild salmonid populations
Aug 11, 04:00 (GMT + 9):
Fish Pool Salmon Price Status Report for week 32
Aug 11, 02:00 (GMT + 9):
Fine reduction targets small-scale and artisanal fishermen
Aug 11, 00:50 (GMT + 9):
Statistics │ Export │ Surimi and other fish meat │ 2021-22
Aug 11, 00:50 (GMT + 9):
Statistics │ Export │ Processed fish meat and surimi products │ Jun-2022
Aug 11, 00:50 (GMT + 9):
Statistics │ Import │Surimi and other fish meat │ Jun-2022
Aug 11, 00:50 (GMT + 9):
Statistics │ Stocks │Surimi (pollock and others) │ 2020-21-22
United States
Aug 11, 00:40 (GMT + 9):
Weekly production of Alaskan pollock surimi (DAP in BSAI/GOA) | week 30
Aug 11, 00:30 (GMT + 9):
Statistics │ Stocks│Salted Alaska pollock roe -Tarako- │ May-2022
European Union
Aug 11, 00:00 (GMT + 9):
Other Media | La Voz de Galicia: Brussels does not differentiate longlining from trawling in the veto on bottom fishing

Alfonso Miranda Eyzaguirre re-elected as president of the Inter-American Tropical Tuna Commission (IATTC)
United States • It was during the 100th IATTC Meeting held in the city of Phoenix, Arizona (United States). • Miranda Eyzaguirre is also the head of the Peruvian Tuna Chamber (CPA). • Miranda Eyzaguirre is ...
Weekly catches │ GOA/BSAI | Black cod / sablefish | 2021-22
United States Source: FIS by SeafoodMediaGroup  | Click to enlarge it    [email protected] www.seafood.media...
Finding shrimp under low-oxygen conditions
United States As seasonal hypoxic conditions in the Gulf of Mexico force shrimp stocks to relocate, scientists from NOAA and North Carolina State University are trying to make these shrimp easier to find. Shrimp a...
Vietnam tuna exports to France recorded an growth of 510%
Viet Nam VASEP, the Vietnam Association of Seafood Exporters and Producers, reports that Vietnam's tuna exports to France have continuously grown at a high rate in the first half of 2022 following the growth t...

Maruha Nichiro Corporation
Nichirei Corporation - Headquarters
Pesquera El Golfo S.A.
Ventisqueros - Productos del Mar Ventisqueros S.A
Wärtsilä Corporation - Wartsila Group Headquarters
ITOCHU Corporation - Headquarters
BAADER - Nordischer Maschinenbau Rud. Baader GmbH+Co.KG (Head Office)
Inmarsat plc - Global Headquarters
Marks & Spencer
Tesco PLC (Supermarket) - Headquarters
Sea Harvest Corporation (PTY) Ltd. - Group Headquarters
I&J - Irvin & Johnson Holding Company (Pty) Ltd.
AquaChile S.A. - Group Headquarters
Pesquera San Jose S.A.
Nutreco N.V. - Head Office
CNFC China National Fisheries Corporation - Group Headquarters
W. van der Zwan & Zn. B.V.
SMMI - Sunderland Marine Mutual Insurance Co., Ltd. - Headquarters
Icicle Seafoods, Inc
Starkist Seafood Co. - Headquearters
Trident Seafoods Corp.
American Seafoods Group LLC - Head Office
Marel - Group Headquarters
SalMar ASA - Group Headquarters
Sajo Industries Co., Ltd
Hansung Enterprise Co.,Ltd.
BIM - Irish Sea Fisheries Board (An Bord Iascaigh Mhara)
CEFAS - Centre for Environment, Fisheries & Aquaculture Science
COPEINCA ASA - Corporacion Pesquera Inca S.A.C.
Chun Cheng Fishery Enterprise Pte Ltd.
VASEP - Vietnam Association of Seafood Exporters & Producers
Gomes da Costa
Furuno Electric Co., Ltd. (Headquarters)
NISSUI - Nippon Suisan Kaisha, Ltd. - Group Headquarters
FAO - Food and Agriculture Organization - Fisheries and Aquaculture Department (Headquarter)
Hagoromo Foods Co., Ltd.
Koden Electronics Co., Ltd. (Headquarters)
A.P. Møller - Maersk A/S - Headquarters
BVQI - Bureau Veritas Quality International (Head Office)
UPS - United Parcel Service, Inc. - Headquarters
Brim ehf (formerly HB Grandi Ltd) - Headquarters
Hamburg Süd Group - (Headquearters)
Armadora Pereira S.A. - Grupo Pereira Headquarters
Costa Meeresspezialitäten GmbH & Co. KG
NOAA - National Oceanic and Atmospheric Administration (Headquarters)
Mowi ASA (formerly Marine Harvest ASA) - Headquarters
Marubeni Europe Plc -UK-
Findus Ltd
Icom Inc. (Headquarter)
WWF Centroamerica
Oceana Group Limited
The David and Lucile Packard Foundation
Ajinomoto Co., Inc. - Headquarters
Friosur S.A. - Headquarters
Cargill, Incorporated - Global Headquarters
Benihana Inc.
Leardini Pescados Ltda
CJ Corporation  - Group Headquarters
Greenpeace International - The Netherlands | Headquarters
David Suzuki Foundation
Fisheries and Oceans Canada -Communications Branch-
Mitsui & Co.,Ltd - Headquarters
NOREBO Group (former Ocean Trawlers Group)
Natori Co., Ltd.
Carrefour Supermarket - Headquarters
FedEx Corporation - Headquarters
Cooke Inc. - Group Headquarters
AKBM - Aker BioMarine ASA
Seafood Choices Alliance -Headquarter-
Austevoll Seafood ASA
Walmart | Wal-Mart Stores, Inc. (Supermarket) - Headquarters
New Japan Radio Co.Ltd (JRC) -Head Office-
Gulfstream JSC
Marine Stewardship Council - MSC Worldwide Headquarters
Royal Dutch Shell plc (Headquarter)
Genki Sushi Co.,Ltd -Headquarter-
Iceland Pelagic ehf
AXA Assistance Argentina S.A.
Caterpillar Inc. - Headquarters
Tiger Brands Limited
National Geographic Society
AmazonFresh, LLC - AmazonFresh

Copyright 1995 - 2022 Seafood Media Group Ltd.| All Rights Reserved.   DISCLAIMER