Vietnam's seafood exports have surged to nearly $2 billion in the first quarter of this year, marking an 8% increase compared to the same period last year, as reported by the Vietnam Association of Seafood Exporters and Producers (VASEP). The top three importers for Vietnamese seafood products were the United States, Japan, and China-Hong Kong.
Exports to the US saw a significant 16% increase, reaching $330 million. This growth was attributed to rising exports of shrimp, tuna, tra fish, and crab, with figures soaring by 13-53%. VASEP noted positive developments in tra fish prices in the US, which rebounded after a dip towards the end of last year. Additionally, the recent announcement by the US Department of Commerce regarding anti-dumping duty rates for Vietnamese frozen tra fish fillets is expected to further boost the confidence of tra fish exporters.
In the Chinese market, Vietnamese exports of major seafood items such as tra fish, white-legged shrimp, lobster, anchovies, and crabs have seen significant increases. Tightened inspections on shrimp imports from Ecuador have opened up opportunities for Vietnamese firms to expand their exports of white-legged shrimp to China.
Similarly, exports of white-legged shrimp and crab to Japan have shown positive growth, with increases of 20% and 23% respectively. Vietnamese tra fish is also gaining popularity in Japan, with exports rising by 25% in the first quarter.
While exports to the EU and Korea are yet to show signs of recovery, tuna exports to these markets have seen solid growth. Squid and octopus exports to Korea have also increased, despite slight declines in exports to the US and Japan.
VASEP remains optimistic about future prospects, anticipating more orders at better prices following upcoming international seafood fairs in key markets. Lê Hằng, VASEP's communications director, emphasized the importance of adhering to regulations in both import markets and domestically to sustain exports, especially in light of challenges faced by competitors like India and Ecuador.
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