Seafood exports up 7%
Seafood exports up 7%
Seafood exports in the first half of the year were worth US$4.4 billion, up nearly 7 per cent year-on-year, according to the Việt Nam Association of Seafood Exporters and Producers (VASEP).
Workers at a tra fish processing plant. Exports of various seafood products recorded strong growth in the first half of 2024. — Photo courtesy of VASEP |
June exports topped US$875 million, up 14 per cent and the highest monthly exports this year.
Shipments of most key items increased sharply in June, with those of tra fish, tuna, crab, and shrimp surging by 22 per cent, 40 per cent, 59 per cent, and 7 per cent, respectively.
But squid and octopus exports decreased slightly.
In the six-month period, shrimp fetched more than $1.6 billion, with shipments of the white-legged variety up marginally and accounting for $1.2 billion. Black tiger shrimp exports fell by 10 per cent to $200 million.
Lobster accounted for $130 million, or 57 times the value last year. China was Việt Nam’s largest lobster importer, accounting for almost the entire export.
The association said to ensure sustainable lobster exports, seafood firms need to look at official channels and build supply chains with easy traceability.
Speaking about tra fish exports, it said demand had grown in several markets but prices remained low except in the US.
Tuna exports increased by nearly 25 per cent during the half-year to $477 million, mainly thanks to strong increase in demand for canned and bagged products.
Exports to the EU grew by 12 per cent in the first half to $513 million, and insiders forecast demand to rise even faster after the summer vacations end.
Exports to the US and China were up 9 per cent and 7 per cent to $733 million and $766 million, respectively.
Exports to the Japanese market were marginally down to $705 million.
The Japanese yen depreciated strongly against the greenback, which has sent Japan’s imports plummeting.
VASEP expects seafood exports in the second half of the year to increase by 15 per cent to over $5.5 billion, bringing exports for the year to nearly $10 billion, up 12 per cent from 2023.
