Photo: VASEP/FIS

Vietnamese Scallops Achieve Strong Market Penetration

VIET NAM
Thursday, December 12, 2024, 00:10 (GMT + 9)

Vietnam's scallop exports have solidified their position as the third-largest shellfish export category, following clams and snails, according to Nguyen Ha, Tuna Market Expert at the Vietnam Association of Seafood Exporters and Producers.

In 2024, the country's scallop exports have demonstrated remarkable growth. October alone saw exports surpass $8 million USD—a staggering 1,700% increase compared to the same month in 2023. Cumulatively, Vietnam’s scallop exports in the first ten months of 2024 exceeded $31 million USD, reflecting a robust 206% year-on-year growth.

Vietnamese scallops are now exported to more than 20 international markets, with the United States, Denmark, and Japan emerging as the top three importers.

In the United States, Vietnam's scallop exports have transitioned from sporadic orders in 2023 to a consistent and significant presence in 2024. The value of scallop exports to the US reached over $11 million USD in the first ten months of 2024—an astonishing 131-fold increase from the same period in 2023. This reflects a deepening penetration of Vietnamese scallops into the US market, with growing order volumes and regularity.

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Similarly, Japan has witnessed an extraordinary surge in scallop imports from Vietnam, rising by 312% during the same period. This dramatic growth is partly attributed to Japan's diversification of scallop supply chains following China's ban on Japanese seafood in August 2023. The restriction, which stemmed from concerns over treated wastewater discharge from the Fukushima nuclear plant, has prompted Japanese seafood companies to explore new processing hubs.

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Vietnam, with its established seafood processing facilities and expertise, has become a preferred partner. Japanese firms have started outsourcing the processing of Hokkaido scallops to Vietnam, with an initial shipment of 20 tons processed and re-exported to Japan for sale in restaurants and retail outlets. This collaboration is a major driver behind the sharp rise in Vietnam’s scallop exports to Japan.

However, Denmark has bucked this upward trend, with scallop exports to the country showing a decline.

Looking ahead, Vietnam’s scallop exports are expected to maintain strong growth, driven by increased demand in major markets and expanded processing collaborations with international partners.

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