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| Many businesses are also focusing on boosting exports to Japan this year thanks to stable demand and better profit margins due to the high proportion of refined and blended goods. (Source: Vinh Long Newspaper) |
Vietnam leads in shrimp supply to Japan
According to the Association of Seafood Exporters and Producers, as of July 15, 2023, Vietnam's shrimp exports to Japan reached 256 million USD, down 29% over the same period in 2022.
The Japanese market bought 236 million USD worth of shrimp from Vietnam in the first 6 months of this year, down 29% year-on-year. Vietnam's shrimp exports to Japan in June 2023 decreased by 35% - the deepest decline since March this year.
Vietnam's shrimp exports to Japan in the first months of this year also faced difficulties due to the sharp depreciation of the Yen. By early July 2023, the Yen had fallen by more than 145 Yen per USD, making it difficult to sell shrimp to this market because the selling price had to decrease following the depreciation of the Yen.
Of the three main shrimp product groups exported to Japan, whiteleg shrimp accounted for 63.5%, black tiger shrimp accounted for 17.9%, and the rest were other types of shrimp with 18.6%. Unlike other markets, the proportion of other shrimp exports to Japan is higher than black tiger shrimp. The export value of whiteleg shrimp to Japan in the first half of 2023 reached 150 million USD, down 26%, the export value of black tiger shrimp decreased by 45%, reaching 42 million USD. Notably, the export of other types of shrimp to Japan reached 44 million USD, down 15%.
In the first 6 months of 2023, the average export price of frozen whiteleg shrimp from Vietnam to Japan ranged from 6.5 - 10.3 USD/kg. The average price of frozen black tiger shrimp exported to Japan ranged from 14.1 - 17.7 USD/kg. The average export price of frozen whiteleg shrimp and black tiger shrimp to Japan in the second quarter of this year tended to decrease slightly compared to the first quarter of this year.
Many businesses are also focusing on boosting exports to Japan this year thanks to stable demand and better profit margins in Japan due to the high proportion of refined and blended products. In the context of a decrease in domestic raw shrimp due to shrimp diseases, processed Vietnamese shrimp products exported to Japan maintain an advantage over other markets.
Some of the largest shrimp exporting enterprises to Japan are Sao Ta Food Joint Stock Company, Hai Viet Joint Stock Company, Minh Phu Seafood Group Joint Stock Company, Minh Phu Hau Giang Seafood Joint Stock Company...
In the Japanese market, Vietnamese shrimp also has to compete with Indian and Ecuadorian shrimp. According to data from the International Trade Center (ITC), in the first 5 months of this year, while total shrimp imports into Japan decreased by 11%, imports from the largest supplier Vietnam also recorded a decrease, Japan still increased imports from India and Ecuador, by 43% and 20% respectively. Data from the Indian Ministry of Commerce shows that in the first 5 months of this year, Japan increased imports of black tiger shrimp from India.
Vietnam remains the largest shrimp supplier to Japan, accounting for a market share of 23.7%. Thailand ranks second with a market share of 17.7%. India ranks fourth with 14.5% and Ecuador ranks 10th with 2.1%.
Rice exports increase "hotly" by 68%
According to preliminary statistics just released by the General Department of Customs, in the second half of July (July 16-31), the country exported 411,462 tons of rice, with a turnover of 227.2 million USD. Compared to the first half of this month, the volume of exported rice increased by 65% and the turnover increased by nearly 68%.
In July, the country exported 660,738 tons of rice, worth 362.66 million USD, up 6.9% in volume and 6.4% in value compared to the previous month.
In the first 7 months of the year, the country exported nearly 4.9 million tons of rice, with a total turnover of 2.62 billion USD, up 20.1% in volume and 31.4% in turnover over the same period in 2022.
Regarding prices, data from the Vietnam Food Association shows that the export price of 5% broken rice from our country on August 10 reached a new milestone of 638 USD/ton, while 25% broken rice also jumped to 618 USD/ton, both up 20 USD/ton compared to the previous session (August 9). Compared to the time before India banned exports, 5% broken rice and 25% broken rice increased by 105 USD/ton, bringing the price of this item to a rare high in history.
According to the Vietnam Food Association, in the first months of the year, rice exports are improving in all three criteria: volume, turnover and average value.
Vietnam's major export markets are the Philippines, China, Indonesia... of which the Philippines has been the largest market for many years, with exports to this Southeast Asian country reaching nearly 1.94 million tons in the first 7 months of the year, with a turnover of nearly 985 million USD.
Notably, the rice structure continues to shift towards high-quality and high-value rice varieties. Over the past 7 months, the regular white rice variety continues to account for the largest proportion, reaching 55.5% of total export volume (equivalent to about 2.35 million tons); followed by various types of fragrant rice, accounting for about 24.2% of total export volume (about 1 million tons); glutinous rice ranks third, accounting for about 8.5% of total export volume (about 358.5 thousand tons); broken rice accounts for 7.6% of total export volume (about 324,000 tons); the rest are other types of rice.
The Vietnam Food Association stated that in recent times, Vietnam's rice exports have grown strongly and rice exporters have achieved their goals in selling rice to people at good prices and stabilizing the domestic market, contributing to ensuring national food security. Currently, the quality of Vietnam's rice meets all world markets, which is a positive sign.
At this time, Vietnamese rice has an export advantage to increase both output and export price due to the limited supply effect from major exporting countries, but this advantage will not last. While many opinions say that India - a country exporting about 22 million tons/year - may revoke the export ban, rice prices will certainly not be able to maintain a high level.
Therefore, experts say that businesses need to take advantage of short-term opportunities to increase exports and lock in high selling prices. In addition, it is necessary to continue to consistently implement the direction of improving quality, increasing fragrant rice and specialty rice, increasing the application of science and technology in production to increase output, reduce input material consumption, reduce emissions to move towards the goal of net Zero in the agricultural sector.
It is forecasted that in 2023, Vietnam's rice export volume could reach 8 million tons, a record number ever.
Localities with export turnover exceeding 20 billion USD
Data on import and export situation in July and the first 7 months of the year from the General Statistics Office and the General Department of Customs showed that in July 2023, the total import and export turnover of goods was estimated at 57.21 billion USD, up 2.5% over the previous month and down 6.7% over the same period last year.
In the first 7 months of 2023, the total import and export turnover of goods reached 374.23 billion USD, down 13.9% over the same period last year, of which exports decreased by 10.6%; imports decreased by 17.1%. The trade balance of goods in the first 7 months of 2023 is estimated to have a trade surplus of 15.23 billion USD.
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| Ho Chi Minh City is one of the localities that recorded export turnover exceeding the 20 billion USD mark. (Source: Culture Newspaper) |
Accordingly, regarding exports, the report said that the export turnover of goods in July 2023 was estimated at 29.68 billion USD, up 0.8% over the previous month. Of which, the domestic economic sector reached 7.76 billion USD, down 1.8%; the foreign-invested sector (including crude oil) reached 21.92 billion USD, up 1.7%. Compared to the same period last year, the export turnover of goods in July 2023 decreased by 3.5%, of which the domestic economic sector decreased by 4.2%, the foreign-invested sector (including crude oil) decreased by 3.2%.
In the first 7 months of 2023, the total export turnover of goods is estimated at 194.73 billion USD, down 10.6% over the same period last year. Of which, the domestic economic sector reached 51.5 billion USD, down 10.2%, accounting for 26.4% of the total export turnover; the foreign-invested sector (including crude oil) reached 143.23 billion USD, down 10.8%, accounting for 73.6%.
By province and city, the General Department of Customs' report said that in July 2023 alone, the five localities with the highest export turnover in the country were Ho Chi Minh City (3.6 billion USD), Bac Ninh (3.4 billion USD), Thai Nguyen (2.7 billion USD), Binh Duong (2.6 billion USD), and Dong Nai (1.88 billion USD).
In the first 7 months of 2023, according to the General Department of Customs, Ho Chi Minh City and Bac Ninh are the two localities that recorded export turnover exceeding the 20 billion USD mark. Specifically, the export turnover of these two localities as of July 2023 reached 23.6 billion USD and 20.6 billion USD, respectively, ranking first and second in the country. Following is Binh Duong, with export turnover in the first 7 months of the year reaching 17.34 billion USD.
In addition, a number of other localities also recorded export turnover exceeding the 10 billion USD mark in the first 7 months of the year, including: Thai Nguyen (15.6 billion USD), Hai Phong (13.3 billion USD), Bac Giang (12.5 billion USD) and Dong Nai (12.3 billion USD).
Regarding the structure of export goods in the first 7 months of 2023, the fuel and mineral group is estimated at 2.53 billion USD, accounting for 1.3%; the processed industrial group is estimated at 171.5 billion USD, accounting for 88.1%; the agricultural and forestry products group is estimated at 15.75 billion USD, accounting for 8.1%; the aquatic products group is estimated at 4.95 billion USD, accounting for 2.5%.
Regarding imports, the General Department of Customs reported that the import turnover of goods in July 2023 was estimated at 27.53 billion USD, up 4.4% over the previous month. Of which, the domestic economic sector reached 10.73 billion USD, up 14.3%; the foreign-invested sector reached 16.8 billion USD, down 1%. Compared to the same period last year, the import turnover of goods in July 2023 decreased by 9.9%, of which the domestic economic sector increased by 0.4%; the foreign-invested sector decreased by 15.4%.
In the first 7 months of 2023, the total import turnover of goods is estimated at 179.5 billion USD, down 17.1% over the same period last year, of which the domestic economic sector reached 64.1 billion USD, down 16.1%; the foreign-invested sector reached 115.4 billion USD, down 17.7%.
Of which, the 5 localities with the highest import turnover in the country in the first 7 months of the year are Ho Chi Minh City (31.1 billion USD), Hanoi (20.2 billion USD), Bac Ninh (17.5 billion USD), Binh Duong (12.2 billion USD) and Hai Phong (11.4 billion USD).
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