Seafood exports are back on the growth track

Seafood exports in the first half of September 2023 brought in 363.8 million USD, up 5.6% over the same period last year. This result is a signal that seafood exports are back on track and will gradually accelerate in the last months of the year...

According to data from the General Department of Customs, in the first 15 days of September 2023, seafood export value reached 363.8 million USD, an increase of 5.6% over the same period last year. From the beginning of the year to September 15, 2023, the total value of seafood exports reached 6.15 billion USD, down 22% over the same period last year.

Notably, in August and the first half of September 2023, a breakthrough was recorded for many aquatic products, focusing mainly on seafood species such as crab, lobster, herring, mackerel, fish sauce, processed tuna, canned sea fish, sea shrimp, processed pangasius, dried shrimp... However, staple products such as white leg shrimp, pangasius, tuna, black tiger shrimp, squid, fish cakes frozen products are still lower than the same period in 2022, causing overall export sales to not make a breakthrough.

EXPORTS OF SHRIMP AND PANASONIC GROWTH ARE STILL NEGATIVE
According to the Vietnam Association of Seafood Exporters and Producers (VASEP), pangasius export turnover in August 2023 reached 170 million USD, down 13% compared to the same period in 2022. However, the decrease in August has narrowed compared to previous months (May, June, and July recorded a decrease of 23-36%). In the first 8 months of 2023, Vietnamese pangasius exports to markets reached nearly 1.2 billion USD, down 34% compared to the same period in 2022.

Vietnam's shrimp exports reached 337 million USD in August 2023, down 15% over the same period last year. Accumulated in 8 months, shrimp exports reached 2.2 billion USD, down 28% over the same period. Regarding the structure of exported shrimp products, white leg shrimp (accounting for 74%) had an export value of 1.6 billion USD, down 29%. The export value of black tiger shrimp (accounting for 14%) reached 315 million USD, down 25%. Other shrimp exports (accounting for 12%) reached 257 million USD, down 25% over the same period last year.

After recording positive growth over the same period last year for the first time in July, Vietnamese shrimp exports to the United States continued to increase by 11% in August, reaching 76 million USD. In the first 8 months of 2023, shrimp exports to the United States reached 451 million USD, down 27% over the same period last year.

Shrimp exports to China in August 2023 reached 56 million USD, up 32% over the same period. Accumulated in the first 8 months of 2023, shrimp exports to China reached 393 million USD, down 5% over the same period last year.

According to the General Administration of Customs of China, overall shrimp imports into the Chinese market are still on the rise. Accumulated in the first 7 months of 2023 will reach 591,827 tons, worth 3.33 billion USD, an increase of 38% in output and 19% in value compared to the same period last year.

TUNA EXPORT TO CHILE INCREASED 65%
VASEP said that seafood export turnover in the first 8 months of 2023 is still lower than the same period, reaching only 2.4 billion USD, down 25% compared to the same period in 2022. In particular, exports of squid and octopus reached more than 417 million USD, down 15%; Group of crabs and other crustaceans reached 114 million USD, down 20%; bivalve mollusks reached 88 million USD, down 11%; Other mollusks reached 3.7 million USD, down 11%, other marine fish group reached 1.2 billion USD, down 8% over the same period last year...

Leading the way in seafood products is tuna with export turnover reaching 545 million USD in 8 months of 2023, down 25% over the same period last year. While other countries in the bloc participating in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) reduce tuna imports from Vietnam, Chile has continuously increased imports since the beginning of 2023.

In August 2023 alone, tuna exports to Chile increased by 75%, reaching nearly 1.3 million USD. Accumulated in the first 8 months of 2023, tuna export turnover to Chile reached more than 10 million USD, an increase of 65% compared to the same period in 2022. If calculated in the first 8 months of the year, this is the highest number in 3 years. last year.

In the first eight months of 2023, Chile tends to sharply increase imports of processed and canned tuna from Vietnam, up 131% over the same period in 2022. Along with that, exports of frozen tuna meat/loin also increase. 39% strong. Currently, Chile imports mainly frozen tuna meat/loin from Vietnam, accounting for nearly 60% of total export turnover to this market.

Vietnam is currently the 4th largest tuna supplier to Chile after Thailand, Ecuador and China. This year, due to a sharp decrease in tuna supply from Ecuador to Chile, this country tends to increase imports from other countries including Thailand and Vietnam.

In the first half of this year, inflation in Chile stood at 2.1%, a low level in the past 3 years. By the end of June 2023, the consumer price index in this country continued to decrease. And this is boosting consumption in this country.

Vietnam, with its tax advantages as committed in the CPTPP agreement, will be a strength for businesses to expand their business in the Chilean market. Therefore, Vietnam's tuna exports to Chile will continue to grow well in the last months of the year.

THE UNITED STATES BECOMES THE NUMBER 1 MARKET FOR SEAFOOD
Citing data from the General Department of Customs, VASEP said the United States has regained its number 1 position with 165 million USD in seafood import turnover from Vietnam in August 2023, an increase of nearly 4% over the same period in 2022. .

Although pangasius exports are still 24% lower, exports of all other key products to the US have recovered. Specifically, export turnover in August: shrimp increased by 11%, tuna increased by 2%, other marine fish increased by 12%, crab, octopus, squid, and molluscs all increased from 24-56% compared to the same period last year. period last year.

Cumulatively in the first 8 months of 2023, seafood exports to the United States have reached 1 billion USD. It is forecast that for the whole year of 2023, this market will contribute 1.7 billion USD in export revenue for Vietnamese seafood, 23% less than in 2022.

In the US market, analysis shows that orders from retailers and the need to import goods to serve next year's festivals are all on the rise. It is forecast that in November and December this year, US seafood import demand will also be better.

In August and September, the consumer confidence index (CCI) in the United States increased by 10% compared to the beginning of this year. This, along with the year-end holiday season, will be positive signals for the growth prospects of consumption of goods in general and seafood in particular in the fourth quarter of 2023.

Seafood exports to Japan and China in August were higher than the previous two months, but did not clearly reflect the recovery trend. However, the incident of Japan discharging nuclear waste is more or less disturbing the country's seafood trade with markets such as China and other markets. The impact on August is not yet clear, but it is possible that this will reduce imports of Japanese seafood into China, Korea and some other countries.

Japan exports to China mainly mollusc products such as scallops, scallops, oysters, squid - octopus, pollock, salmon, cod, cold water shrimp... for both domestic consumption and domestic consumption. Chinese export processing.

This development may help Vietnamese seafood gain more market share in some markets in the near future. Therefore, it is forecast that seafood exports to China will increase again more strongly in the last 4 months of the year, both to meet demand during the Lunar New Year holiday and to partially offset the decline from the Japanese market.

Seafood exports to Korea in August also reached the highest level since the beginning of the year, but compared to the same period last year, it was still 24% lower. In addition to the main markets with different trends, there are many small markets that recorded growth in August and the first half of September, including: Australia, Philippines, Brazil, Saudi Arabia and some other markets. in the EU such as Italy, Switzerland, Finland...

With more positive signals from the US, China and South Korea markets, VASEP commented: Vietnam's seafood exports in the last months of this year are gradually regaining growth and recording more positive results than the first half. year.

Nguồn tham khảo: vneconomy.vn/xuat-khau-thuy-san-tro-lai-duong-dua-tang-truong