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Recovery in Viet Nam's Seafood Exports

20 August 2013

VIET NAM - After a drop of 4.8 per cent in the first quarter of 2013, Vietnamese seafood exports in the second quarter started to recover with a growth of 4.5 per cent against the compatible period of last year, thanks to stronger demand from key importing markets, which led to higher prices for fishery products.

Quarter two of 2013’s exports reached US$1.6 billion, boosting total value in the first half of 2013 to US$2.9 billion, the same level compared to that recorded in January - June 2012, reports Vasep.

Since Q2 2013, the reversal trend among some main seafood products became clear: strong growth in shrimp sales abroad and slight rise for pangasius products, but sharp drop in trade of tuna and marine fish species.

The supply of shrimp rebounded in the second quarter as processing companies and farmers took measures to face EMS disease on shrimp. At the same time, global shrimp production fell to low level, pushing prices up and leading to high value of shrimp exports in Q2 2013.

Pangasius exports have not shown positive signs but the sector turned to be on stable trend because a decreasing supply of raw material stimulated importers demand. Despite of higher antidumping tax on frozen pangasius fillets in the US and negative allegation by media in some European countries, pangasius still saw opportunities to develop in the US and other potential markets such as Brazil, Mexico and China.

This year, processors and exporters of tuna and marine fish products fell into financial troubles, which were combined with unstable supply, weakened demands and stricter technique barriers set by consumer markets. As a result, tuna exports went down 10.6 per cent in Q2 2013 and it will be difficult for the sector to recover in the coming time.

In contrast to persistent drop in exports to the EU and South Korea, the US and Japan is speeding up purchase from Viet Nam. In particular, Chinese market holds more important place among fish importers with rising proportion in Viet Nam’s total export value.

Will exports of shrimp and pangasius products continue to increase in the third quarter and the second half of 2013? Whether tuna exporters find ways to develop potential markets or keep seeing slide in revenue? And will China accelerate its purchase from Viet Nam?

In addition to statistics and analyses on seafood production and exports, consumption trend in the global market in Q2 2013, VASEP’s Report on Vietnam seafood exports in Q2 2013 will provide analyses on the coming trend on production and exports of Viet Nam’s key fishery sectors in Q3 and the second half of 2013.

TheFishSite News Desk

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