Image: Vasep / FIS

China Is a Major Consumer of Vietnamese Crabs

VIET NAM
Thursday, August 01, 2024, 07:00 (GMT + 9)

According to Vietnam Customs, Vietnam's crab exports have grown continuously since the beginning of 2024. In June 2024 alone, the export value increased by 71% compared to the same period in 2023, reaching 28 million USD. In the first 6 months of the year, the export turnover reached 125 million USD, an increase of 75%.

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China and Hong Kong are still the largest import markets for crabs and other crustaceans from Vietnam, accounting for 43% of the total export turnover. The export value to this market is increasing rapidly at a 3 to 4 digit rate compared to the same period and maintaining continuous growth every month. In June 2024 alone, crab and other crustacean exports to this market increased by 20 times compared to the same period, reaching nearly 13 million USD. In the first 6 months of this year, exports to this market reached nearly 54 million USD, up 623%.

Meanwhile, exports to Japan have been on a downward trend for the past 3 months. The export value of crabs and other crustaceans to Japan in June 2024 decreased by 25% over the same period, reaching 6 million USD. The cumulative export value in the first 6 months of the year decreased slightly by 0.3%, reaching 35 million USD.

<--Source: Stockfile FIS 

Exports to the US and Canada are also growing positively, with increases of 30% and 44%, respectively.

On the contrary, exports to EU countries are not very positive. The export value of crabs to the EU in the first half of the year decreased by 46% over the same period. The fact that the European Commission continues to issue a "yellow card" warning to Vietnam's seafood exploitation industry is affecting seafood exports to this market.

Author: Bao Ngoc | Vasep (Translated from the original in Vietnamese)

[email protected]
www.seafood.media

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