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| In 2023, the EU will continue to be the largest consumer market for tilapia from Vietnam with 2 million USD. (Source: Industry and Trade Newspaper) |
In 2023, the EU will continue to be the largest consumer market for tilapia from Vietnam with 2 million USD, down 34% compared to 2022. The fourth quarter of 2023 recorded the highest value of this market with positive growth for 3 consecutive months, after consecutive declines in the first 9 months of the year.
Of which, the Netherlands contributes nearly half of Vietnam's total tilapia exports to the EU market. In 2023, cumulative pangasius exports to the Netherlands will reach more than 1 million USD, an increase of 10% compared to 2022.
Behind the EU, the US consumed nearly 1 million USD in 2023, down 71% compared to 2022. This market often fluctuated erratically in 2023. In the last month of 2023, the US unexpectedly increased tilapia imports. Tilapia export turnover to the US in December 2023 reached more than 200 thousand USD, up 78% over the same period while the previous month this country imported almost nothing.
Frozen tilapia is a favorite product of consumers in the US. In the first 11 months of 2023, the US imported 84,822 tons of frozen tilapia fillets from the world , up 13% over the same period.
China is the world’s largest supplier of tilapia and also the largest supplier to the US. Vietnamese tilapia in the US has difficulty competing with Chinese tilapia, as the average price of Vietnam is much higher, although it is on a downward trend.
In addition, Vietnam's tilapia exports to some other markets also witnessed negative growth such as: Japan decreased by 62%, Belgium decreased by 56%, Italy decreased by 38%, UK decreased by 85%...
Tilapia is a fast growing species with increasing production. Currently, tilapia products originating from China and Taiwan are dominating the global market. Although Vietnam's tilapia export turnover is still modest, it has shown a positive growth trend in recent years.
(according to VASEP)
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