Vietnam's seafood exports continue recovery
Pangasius exports in the first eight months of this year increased by 9% on year to 1.3 billion USD (Photo: VNA) |
In August alone, this value reached a growth rate of 20% to nearly 953 million USD.
VASEP reported that, apart from squid and octopus, whose export turnover decreased by 15% in August, the exports of all other key products had double- or triple-digit growth. Shrimp exports rose by 30%, pangasius by 18%, tuna by 13%, and other marine fish by 12%.
During the first eight months, shrimp exports reached 2.4 billion USD, up 9% year over year, including 1.75 billion USD from white-leg shrimp and 290 million USD from black tiger shrimp.
Lobster alone maintained good growth momentum in August, so the lobster export turnover in the first eight months was 140% higher than the same period in 2023.
VASEP said that shrimp exports are showing a positive trend, with stable growth in recent months, though they are facing challenges from anti-subsidy and anti-dumping taxes.
Shrimp consumption has begun to increase in Europe and the US, which is a positive sign for the market, although the price of shrimp exported to China is still low.
Pangasius exports in the first eight months increased by 9% on year to 1.3 billion USD. Exports to China remained stagnant, but the recovery of the US market was a lever for pangasius exports to grow. The exports to the US surged by 23% over the same period last year, while the exports to China decreased by 3%.
Vietnam also saw a growth of 21% on year in tuna exports during the first eight months to 652 million USD.
However, VASEP believes that in the coming months, the tuna export market may find it difficult to maintain this growth momentum due to a lack of raw materials.
With Decree 37/2024/ND-CP, effective from May 19, 2024, which requires the size for skipjack tuna to be at least half a metre, companies have been almost unable to buy enough domestic raw material of tuna to produce canned tuna, as well as other export products from tuna.
Squid and octopus exports have been most affected by the IUU yellow card. The issue of certifying the exploitation of this product has encountered many difficulties, causing the enterprises to not have eligible raw materials for processing export products. Therefore, squid and octopus exports in the first eight months fell by 2% compared to the same period last year to 402 million USD.
The association expects that seafood exports for this whole year will be at 9.4-9.5 billion USD, up 6% compared to 2023, because there are still some major challenges curbing the export growth in the remaining months, such as the IUU yellow card, anti-subsidy tax and anti-dumping tax./.
See also
Shrimp exports bring home nearly 2.8 billion USD in nine months
09:56 | 15/10/2024 Major exports
Rice exports expected to exceed 5 billion USD target
17:04 | 06/10/2024 Major exports
Vietnam's rice export turnover up 23.5% in nine months
17:16 | 05/10/2024 Major exports
Vietnam earns over 7 billion USD from fishery exports in nine months
09:11 | 04/10/2024 Major exports
Vietnam's fruit, vegetable exports near 7 billion USD target
11:04 | 01/10/2024 Major exports
Rubber industry implements green growth to promote exports
09:08 | 30/09/2024 Major exports
See more news
Việt Nam's wood exports rise, but challenges from market and natural disasters persist
09:31 | 27/09/2024 Major exports
Vietnam wins bid to export rice to Indonesian market
09:30 | 26/09/2024 Major exports
Việt Nam's durian dominates fruit exports, outpacing dragon fruit
16:59 | 25/09/2024 Major exports
Nine-month timber and wood product exports see robust growth
10:24 | 25/09/2024 Major exports
Export price of Vietnamese Robusta coffee beans shoots up globally
09:42 | 24/09/2024 Major exports
Pangasius exports skyrocket, likely to fulfill US$2 billion export target
14:32 | 23/09/2024 Major exports
Fruit and vegetable exports tipped to grow strongly
15:58 | 22/09/2024 Major exports
Vietnam's rubber exports reach 1.7 billion USD in eight months
17:54 | 21/09/2024 Major exports
Vietnam's frozen durian exports to China could reach 300 mln USD in 2024: Official
09:58 | 20/09/2024 Major exports
More Tra fish exporters exempt from US anti-dumping tax
09:43 | 20/09/2024 Major exports
Can Tho eyes stronger cooperation with US partners
17:17 | 22/11/2024 Cooperation
Thai packaging giant takes 30-year lease for largest ready-built factory in Tay Ninh
16:58 | 22/11/2024 Investment
Bulgarian President’s visit to deepen ties with Việt Nam: Ambassador
16:41 | 22/11/2024 News and Events
Association boosts insurance sector’s sustainable development
16:30 | 22/11/2024 Society
Vietnam, Venezuela step up educational cooperation
16:23 | 22/11/2024 Society
Multimedia
Strengthening Vietnam-Cambodia friendship and cooperation
09:00 | 22/11/2024 Infographic
Vietnam - Malaysia Strategic Partnership
10:54 | 21/11/2024 Infographic
Vietnam, Dominican Republic strengthening cooperation
08:45 | 20/11/2024 Infographic
Vietnam - Brazil strategic partnership
10:26 | 19/11/2024 Infographic
Nhon - Hanoi Station elevated urban railway comes into operation
09:04 | 18/11/2024 Infographic
New decree on using telecommunications accounts for payment proposed
09:29 | 22/11/2024 Policy
Parliament approves amendments to pharmacy law
08:54 | 22/11/2024 Policy
VAT tax reduction should continue until mid-2025: Ministry
17:15 | 21/11/2024 Policy
NA deputies scrutinise investment policy for North-South high-speed railway project
08:54 | 21/11/2024 Policy
VN's food processing industry struggles to improve quality and value chain integration
11:36 | 22/11/2024 Industry
Tra fish sector aiming for production, processing greening for sustainable development
15:38 | 20/11/2024 Industry
Solutions discussed to ensure coal supply for electricity generation in 2025
16:24 | 19/11/2024 Energy
Garment industry targets 47-48 billion USD in export turnover next year
16:16 | 19/11/2024 Industry
Thai packaging giant takes 30-year lease for largest ready-built factory in Tay Ninh
16:58 | 22/11/2024 Investment
Workshop seeks ways to attract Japan’s green investment to Vietnam
09:43 | 20/11/2024 Investment
Government approves investment policy to build Cam Lien Industrial Park in Quang Binh
16:57 | 18/11/2024 Investment
Disbursement of public investment must be accelerated: Deputy PM
12:17 | 17/11/2024 Investment
HDBank wins three awards at Vietnam Listed Company Awards 2024
10:53 | 21/11/2024 Finance-Banking
VIB, Flywire partner to streamline cross-border payments for students from Vietnam
16:46 | 18/11/2024 Finance-Banking
Vietcombank issues 2 trillion VND worth of green bonds for first time
18:55 | 16/11/2024 Finance-Banking
UK stands ready to help Vietnam build international financial hub
17:13 | 13/11/2024 Finance-Banking
Significant progress in fisheries' environmental protection but challenges remain
09:35 | 22/11/2024 Environment
Hà Nội prepares for temperature drop as cold front approaches
16:56 | 21/11/2024 Environment
Hundreds of damaged irrigation reservoirs need repairing
09:02 | 20/11/2024 Environment
Greening e-commerce crucial for sustainable development
10:47 | 18/11/2024 Environment
Việt Nam and Korean NIPA strengthen tech cooperation
10:42 | 22/11/2024 Science - Technology
Cyberattack risks surge with AI advancements
10:39 | 22/11/2024 Science - Technology
People, community at heart of digital transformation: Deputy PM
09:26 | 21/11/2024 Science - Technology
AI is core technology of 4th Industrial Revolution: Minister
11:19 | 20/11/2024 Science - Technology
Association boosts insurance sector’s sustainable development
16:30 | 22/11/2024 Society
Vietnam, Venezuela step up educational cooperation
16:23 | 22/11/2024 Society
A series of scientific seminars on influenza prevention
15:15 | 22/11/2024 Society
Insurance Association of Vietnam: 25-year journey of growth
10:49 | 22/11/2024 Society
Doubling insurance product’s payout significantly benefits customers
16:22 | 22/11/2024 Vietnamese Brands
PJICO: 30 years of development
11:19 | 22/11/2024 Vietnamese Brands
VN takes part in food and beverage fair in Chicago
09:45 | 20/11/2024 Vietnamese Brands
Hòa Bình honey awaits reactions from UK
10:41 | 19/11/2024 Vietnamese Brands
Vibrant cultural rendezvous in Hanoi
15:30 | 22/11/2024 Lifestyle
Cultural activities celebrate Việt Nam Heritage Day
10:06 | 22/11/2024 Culture
Bac Ninh Province: Dong Ho folk painting needs urgent safeguarding
15:04 | 20/11/2024 Culture
Vietnamese designers tell stories of culture at Fashion Week
10:14 | 20/11/2024 Culture
Golden time for community-based tourism development
10:38 | 22/11/2024 Tourism
Christmas Festival to entertain visitors to Đà Nẵng
09:53 | 22/11/2024 Tourism
How trekking the mountains lifted me up and above ... the clouds: conquering Lùng Cúng
09:45 | 22/11/2024 Tourism
Blooming buckwheat flowers on Ha Giang roads
14:54 | 21/11/2024 Tourism