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Viet Nam Seafood Exports Experienced the Highest Growth in Three Years

21 May 2014

VIET NAM - As expected, Viet Nam shrimp exports continued to get positive results in 2013 and reported high growth thanks to increase in whiteleg shrimp production and shipment. This contributed to driving total seafood exports of the country to reach $1.65 billion, up 31 per cent year on year, the highest growth level in three years.

Whiteleg shrimp sales reported an year-on-year increase of 212 per cent and occupied 60 per cent of Viet Nam’s total shrimp export value, while black tiger shrimp shipment was up 13 per cent and made up 32 per cent of the total, reports VASEP.

With the revenue of nearly $800 million and the proportion of 48 per cent of the total seafood exports, shrimp sales compensated for the deep and continuous dive in exports of tuna ( -26 per cent ), bivalve mollusk (-13 per cent ), while exports of pangasius and cephalopod reported an unstable growth of five per cent and 5.7 per cent, respectively.

Thanks to soaring shrimp export turnover, Viet Nam's seafood exports to all markets witnessed a positive growths of 11-74 per cent.

In Q1 2014, the US remained to be the largest importer of Viet Nam seafood with the highest growth in shrimp sales of more than 200 per cent, pangasius up 16 per cent but tuna downed 32 per cent.

The antidumping duty on Viet Nam shrimp and pangasius announced recently by the US Department of Commerce (DOC) and the approval of Farm Bill 2014 have not had a direct impact on Viet Nam’s seafood exports in the quarter.

Through March 2014, Viet Nam seafood exports to EU rose 19 per cent thanks to high demand from the market, while exports to Japan went up 10 per cent despite low seafood demand from the market.

In Q1 2014, exports of Viet Nam shrimp was high thanks to its high supply and price while demand for tuna declined due to lack of high quality raw tuna for processing sashimi. Exports of processed tuna in the quarter downed 12 per cent, while exports of frozen/fresh tuna fell 33 per cent .

With the current state of fish production and exports, which strategies Viet Nam will apply to boost exporting shrimp and pangasius and regain the market share of shipment of tuna and other marine products in coming months?

TheFishSite News Desk



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