The EU market favors Vietnamese tilapia.

According to the Vietnam Association of Seafood Processing and Export (VASEP), Vietnam's tilapia exports in 2023 reached over 6 million USD to various markets, a decrease of 42% compared to 2022.

In 2023, the EU continued to be the largest consumer market for tilapia from Vietnam, with a value of $2 million. (Source: Industry and Trade Newspaper)

In 2023, the EU continued to be the largest consumer market for tilapia from Vietnam with $2 million, a decrease of 34% compared to 2022. The fourth quarter of 2023 recorded the highest value for this market, with continuous positive growth for all three months, after consecutive declines in the first nine months of the year.

Of that total, the Netherlands accounts for nearly half of Vietnam's tilapia exports to the EU market. In 2023, cumulative pangasius exports to the Netherlands reached over $1 million, a 10% increase compared to 2022.

Following the EU, the US consumed nearly $1 million worth of tilapia in 2023, a 71% decrease compared to 2022. This market experienced frequent fluctuations throughout 2023. In the last month of 2023, the US unexpectedly increased its tilapia imports. Tilapia exports to the US in December 2023 reached over $200,000, a 78% increase year-on-year, while the country had virtually no imports the previous month.

Frozen tilapia is a popular product among consumers in the United States. In the first 11 months of 2023, the US imported 84,822 tons of frozen tilapia fillets from around the world , a 13% increase compared to the same period.

China is the world's largest supplier of tilapia and also the largest supplier to the United States. Vietnamese tilapia in the US market struggles to compete with Chinese tilapia, as the average price of Vietnamese tilapia is significantly higher, even though it is trending downwards.

In addition, Vietnam's tilapia exports to several other markets also saw negative growth, such as Japan (down 62%), Belgium (down 56%), Italy (down 38%), and the UK (down 85%).

Tilapia is a fast-growing farmed species with increasing yields. Currently, tilapia products originating from China and Taiwan dominate the global market. Although Vietnam's tilapia export value is still modest, it has shown positive growth trends in recent years.

(according to VASEP)

Source: https://baoquocte.vn/thi-truong-eu-chuong-ca-ro-phi-viet-nam-260941.html