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Photo: VASEP/FIS

Seafood exports in November 2023 increased by 6%

Click on the flag for more information about Viet Nam VIET NAM
Tuesday, December 05, 2023, 07:00 (GMT + 9)

By the end of November 2023, Vietnam's seafood export turnover is estimated to reach 8.27 billion USD, down 19% over the same period last year. In November 2023 alone, exports increased by 6% compared to November 2022, reaching nearly 840 million USD.

Except for shellfish, whose turnover is still lower than the same period, exports of main products in November 2023 are all higher than the same period last year. Of which shrimp increased by 4%, tuna increased by 26%, pangasius increased by 12%, squid, octopus increased by 3%, other sea fish increased by 4%.

By the end of November this year, pangasius exports had reached nearly 1.7 billion USD, still 26% lower than the same period last year. The decline in average export prices in main markets, especially the US and China, has pulled the value of pangasius exports lower than in 2022. However, pangasius exports are showing more positive signs in some markets. markets in China, Mexico, Canada, Brazil, England... In addition to the main product which is pangasius fillets, by-products such as dried pangasius bladder and pangasius balls are of interest to many markets such as the US, China, Malaysia, Singapore.

Photo: VASEP

Shrimp exports by the end of November 2023 are estimated to reach 3.15 billion USD, down 22% compared to the same period last year. Shrimp exports are also influenced by price competition in the context of world shrimp supply surplus and high prices. sell down. Exports to most major markets were lower than the same period, except for a few small markets such as Hong Kong and Switzerland, which increased by 5%, and Taiwan increased by 19%.

China will likely maintain a strong import trend in the last quarter of 2023 to offset the peak consumption season of December, January and February. However, in the United States, the increase in consumer demand will be met by imports from Latin America due to lower logistics costs.

Inflation is falling in all major European countries. However, traders are reluctant to start buying for Christmas as demand for crustaceans, including shrimp, remains weak.

Photo: VASEP

Shrimp demand in Southeast Asia and the Far East is expected to improve towards the end of the year due to the Christmas, Lunar New Year and Lunar New Year holidays which take place from December to February. Prices will increase during this period as the total Seasonally low yields.

Tuna exports in the first 11 months of the year reached about 774 million USD, down 18%. Compared to other commodities, tuna has a more positive signal. Although exports to the US are still down 35%, many markets such as the EU, Thailand, Israel, Mexico, Russia, Korea, Philippines, and Japan are tending to increase imports of Vietnamese tuna. Steamed tuna loin products and canned tuna have better demand than frozen fish fillets, cut pieces.

Other types of fish, mainly marine fish, brought in sales of 1.74 billion USD by the end of November, down 7% compared to the same period in 2022. Export of squid, octopus, molluscs, crabs until the end November still had negative growth of 10-13% compared to the same period last year.

The last two months of 2022 are the period when seafood exports plummeted to the lowest level of the year (except for February during the Lunar New Year holiday), so although the total export turnover of seafood and some key products recorded growth. positive in November this year, but has not shown a positive trend because compared to previous months there was no breakthrough in sales.

With current developments, seafood exports in 2023 are estimated to reach about 9 billion USD, down 18% compared to 2022. Of which, shrimp will earn about 3.4 billion USD, 21% less than last year. Last year, pangasius was estimated to reach 1.8 billion USD, down 25%, tuna reached 850 million USD, down 15%; Squid and octopus exports are estimated at 660 million USD, down 14%.

Autohr/source: Le Hang / VASEP (translated from original in vietnamese)

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