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Vietnam's Seafood Exports In The First Half Of 2021 Exceeded 4.1 Billion USD

14/07/02021 | BY linhnt

The demand recovery in two major markets of the US and EU and sharp increases in exports to potential markets has brought seafood export turnover of over US$4.1 billion for the country in the first half of this year. In which, exports in June 2021 continued to increase by 20% over the same period last year, reaching 865 million USD. With the current growth momentum, Vietnam seafood exports in 2021 can reach the target of 9 billion USD.

Vietnamese shrimp – No. 1 position in many markets

Vietnam's shrimp exports in June 2021 reached about US$402 million, up 15%, bringing the total turnover of the first 6 months to US$1.7 billion, up 13% over the same period last year. In which, whiteleg shrimp accounted for 76% with over 1.3 billion USD, up 23%; black tiger shrimp accounted for 15%, reaching USD 257 million, down 10%; marine shrimp of all kinds accounted for 9%, reaching 154 million USD, down 16%.

The main export markets of Vietnamese shrimp such as the US, Japan, Korea, and Germany are increasing shrimp imports, so exports to these countries have grown well. In which, shrimp exports to the US are having a monthly growth of 45-46%, to Japan by 17%, to South Korea by 10%, to Germany by 60%, and to the UK by 15%.

Except for the US and China markets, Vietnamese shrimp is ranked No. 1 in most markets with a higher turnover than other countries. However, in the US, the largest shrimp import market (accounting for 30% of world shrimp imports and 22% of Vietnam's shrimp exports), Vietnamese shrimp is behind India, Indonesia and Ecuador. India and Ecuador account for the dominant share in the US (33% and 15%), while Indonesia accounts for about 25%, Vietnam accounts for about 8.5%.

In China, Ecuadorian and Indian shrimp also account for a high proportion (about 55% and 25%). So far this year, shrimp imports from these two countries and other Asian countries into China have been reduced due to strict regulations on imported frozen seafood products at import ports. Therefore, these shrimp exporters have all turned to the US market for the frozen shrimp segment and have plans to produce processed shrimp for the EU and other markets.

Vietnam's pangasius exports to the US and many small markets increased by 100-450%

After a strong increase of 39% in May, Vietnam's pangasius exports continued to increase by 35% in June to over 150 million USD. Export results in the first half of 2021 reached 788 million USD, up 18% over the same period last year.

Pangasius exports to China have been and will continue to decrease by 5-7% in the coming months. Despite the decline, China still accounts for the highest proportion of 26% of Vietnam's pangasius exports, so the congestion in this market is having a significant impact on the exports of Vietnamese enterprises. Meanwhile, exports to the US and some small markets are recovering strongly, of which exports to the US are increasing by over 170%, accounting for 21%. Exports to Mexico, Brazil, the UK, Thailand, the Netherlands, Colombia, and Russia all achieved triple-digit growth (from 100 to 450%). Each of these markets accounts for about 2.5-4% of Vietnam's pangasius export value, which will be potential destinations for Vietnamese pangasius, offsetting the decline in China.

Exporting marine products to markets with many positive signals

By the end of June 2021, Vietnam's marine product exports reached 1.6 billion USD, up 16%. Particularly in June, the export of marine products increased by 21% to 312 million USD. Marine products account for nearly 40% of Vietnam's total seafood export turnover. In which, tuna exports accounted for 9% with 364 million USD in the first half of the year, up 24% over the same period in 2020. Exports of cephalopods increased by 15% to 277 million USD, accounting for 7%, other fish accounted for 22% reached 847 million USD, up 13%...

Both cephalopods and tuna are experiencing strong export growth in most major markets. In recent months, the US market increased imports of Vietnamese tuna 1.5 times over the same period last year, so in the first half of the year, tuna exports to the US increased by 23%. The US is consuming 43% of Vietnam's tuna exports. When the US market reopens, all segments of tuna products have the opportunity to increase their market share here. Although other key markets account for a smaller proportion, they all have very optimistic signals because of very high growth: to Italy increased by 122% in the first 6 months of the year, to Israel increased by 37%, to Canada increased by 62%. .

Export of squid and octopus to Korea - the largest market (accounting for 41%) is tending to increase with a growth of 7-8%, to Japan (accounting for 20%) is also showing a good trend. Meanwhile, exports to Italy have skyrocketed by 170% in recent months and increased by nearly 70% in the first half of the year. Those are optimistic signals to expect cephalopod exports to continue to grow stronger in the coming months.

In general, except for the fact that the Chinese market is tightly controlling imports related to Covid testing, which affects export sales, the export results are very positive to key markets and other markets in the first half of the year, showing that the export target of USD 8.8-9 billion by the end of 2021 is a feasible number for Vietnamese seafood.

Source: VASEP NEWS