Viet Nam Seafood Exports to Italy Increased
10 February 2012VIET NAM and ITALY - In the past five years, Italy has become a major importer of Vietnamese seafood with import value increasing from US$95 million to over US$150 million per year. As of October 2011, Italy ranked the sixth among the largest seafood importers from Viet Nam after the US, Japan, South Korea, Germany and China and accounted for more than three per cent of total export value of Vietnamese seafood, according to VASEP.
VASEP states that in the first 10 months of 2011, Italy imported mainly squid and octopus, pangasius, shrimp, marine finfish and clam from Viet Nam (in order).
Italy is the third largest cephalopod importer from Viet Nam after South Korea and Japan. In the past decade, Vietnamese cephalopod exports to Italy witnessed a gradual growth and hit the record level
of nearly US$71 million in 2008 (except for decline in 2009 because of economic slowdown).
In 2010, Vietnamese cephalopod shipment to Italy recovered and hit US$63.4 million, up 31.2 per cent over that of 2009. In the first 10 months of 2011, Italy imported US$68.5 million of Vietnamese ephalopod, up 37.6 per cent on that of the same period of 2010.
According to overall outlook, Italy is a potential importer of cephalopod products from Vietnam. Pangasius fillet is the second main item exported to Italy from Vietnam. In 2008, pangasius fillet export to the market achieved a record of US$41 million. The figure marked a decline in 2009 due to economic downturn.
But in 2010, the figure recovered and in the first 10 months of 2011, the fish exports reached US$31 million, higher than that of overall 2010 (US$26.5 million). Although consuming demand of pangasius in Italy is lower than that of other members in EU block, pangasius still remains its position in Italian market because the fish has competitive price and can replace white meat fish such as perch, sea bass - Italian’s favourite food.
Moreover, all citizens in Italy comparatively like pangasius. In the upcoming time, it is expected that pangasius fillet product will be consumed sharply in Italian market despite Europe’s financial crisis.
Frozen shrimp in all varieties is the third main item exported to Italy from Viet Nam. Although export value is low, in some recent years, shrimp exports to Italy reported a sharp growth and had a lot of opportunities. In Jan-Oct 2011, Vietnamese shrimp shipment to Italy reached nearly US$19.2 million, representing a comparative growth on 2010 (US$15.1 million). Along with three above main items, Italy also imported many other marine finfish from Viet Nam, including tuna with the value of US$15-20 million per year.
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