VASEP has stated that the main export items have made significant breakthroughs compared to the same period last year. Specifically, shrimp exports reached $242 million, an increase of 71%; tra fish reached $165 million, an increase of 97%; tuna reached $79 million, an increase of 57%; squid and octopus reached $63 million, an increase of 45%; and other types of fish increased by 50%. This is a positive signal for the Vietnamese seafood industry after a long period of stagnation.
In terms of markets, the most remarkable breakthrough is China and Hong Kong, with a trade value of over $118 million, more than triple that of the previous period. Exports to the US reached $111 million, an increase of 63%; to Japan increased by 43%; and to Europe increased by 34%…
Vietnam’s shrimp exports are showing positive signs of recovery.
According to Ms. Tran Thuy Que Phuong, Head of the VASEP Office, for the global shrimp industry, the negative factors in 2023 will continue to affect the industry in 2024. However, Vietnamese shrimp exports will have the opportunity to recover and increase by 10% to 15% this year due to the recovery of the economies of countries with shrimp consumption demand.
Along with that, businesses are increasing the production of value-added and deep-processed products.
“Due to the effects of the war, the fluctuations in the Middle East, and high transportation costs, businesses are focusing on exploiting markets that are close to Vietnam, such as Japan, South Korea, and China. In addition, the growth of the small market is also the motivation for Vietnamese shrimp exports to grow in the near future,” Ms. Phuong said.
Regarding tra fish, according to a representative of VASEP, both production and the market are showing more positive signs. Orders in January and February from businesses are starting to pick up, so the price of raw tra fish has rebounded, increasing from 25,000-26,000 VND/kg to 28,000-29,000 VND/kg at the beginning of this year.
“With the positive signals from the beginning of the year, seafood exports may pick up in the second half of the year and the overall result for the year is expected to have a slight growth compared to 2023, reaching around $9.5 billion,” predicted the VASEP representative.
