Seafood exports recover in first half of year

Increased purchases from major markets such as the US, China, and EU have helped shrimp, tra fish, and tuna exports grow well in the first half of the year.

A report by the Vietnam Association of Seafood Exporters and Producers (VASEP) shows that in the first half of the year, seafood export turnover reached 4.4 billion USD, up 6% over the same period last year. Key products such as shrimp, pangasius and tuna all showed signs of strong recovery.

Specifically, shrimp exports reached 1.6 billion USD, pangasius about 918 million USD, and tuna reached 472 million USD, up 6%, 5%, and 23% respectively compared to the first half of 2023. In particular, crabs and crustaceans achieved spectacular growth, with a turnover of more than 125 million USD, an increase of 75% over the same period last year.

According to VASEP, this recovery is mainly due to major markets such as the US, China, EU and Australia increasing purchases, with an increase of 6-9%.

Shrimp exporters said that China - a market of a billion people - imported shrimp strongly in the first half of the year, with a turnover of 328 million USD, up 17% over the same period last year. In the EU market, shrimp exports reached 217 million USD, up 13% in the first 6 months of the year and are expected to continue to increase in the coming months.

The first quarter financial report of Minh Phu Seafood Joint Stock Company - the largest shrimp exporter - showed that profit reached 7.2 billion VND, compared to a loss of 98 billion VND last year. CEO Le Van Quang shared that although seafood exports have recovered slowly, there have been more orders than last year. The company is expanding its market to China, Japan, South Korea, Australia and New Zealand.

For tuna, in addition to fresh and frozen products, processed products are also experiencing impressive growth. In major markets such as the US, EU and Israel, export turnover increased by 18%, 56% and 50% respectively.

Forecasting the second half of the year, businesses believe that seafood exports will increase more strongly due to holiday and Tet demand. In particular, green, environmentally friendly, antibiotic-free products will be favored.

However, VASEP also warned that the seafood industry still faces many challenges. The shrimp industry is competing with Ecuadorian and Indian products, and diseases in farmed shrimp are still complicated. The tuna industry is also facing difficulties due to the Government 's new regulations on skipjack tuna exploitation, which could lead to a shortage of raw materials for production.

Faced with these challenges, VASEP recommends that relevant agencies adjust regulations in accordance with reality and international practices, while businesses need to control costs in the context of rising freight rates.

Source: https://baoquangninh.vn/xuat-khau-thuy-san-phuc-hoi-nua-dau-nam-3310605.html