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Seafood export reached nearly $USD 4 billion in the first half of the year

Sunday - 01/07/2018 21:06
Shrimp, pangasius and tuna are still the three main export items of Vietnamese seafood at nearly $USD 3 billion.
Vietnam Association of Seafood Exporters and Producers (VASEP) has said that seafood exports in the first half of this year reached nearly  $USD 4 billion, up 12.3% over the same period last year. In particular, shrimp is the largest export item at more than $USD 1.6 billion.

However, the price of shrimp in the world market decreased, the output of the shrimp production in bulk increased the price of raw shrimp and export value of Vietnam shrimp also affected in recent months. Shrimp exports fell by nearly 10% and 0.7% in May and June compared to the same period last year.

According to VASEP, shrimp and tuna are ranked after shrimp. Pangasius export has continued to prosper since the beginning of the year, reaching nearly $USD 1 billion in the first half of the year, up 21% over the same period last year - the strongest increase in all types of seafood.

Except for the falling EU market, exports of catfish to other markets are still very positive, especially in China and the US, as the demand of these big markets increases. At the same time, export of pangasius is forecasted to increase strongly from now until the end of the year.

Other aquatic products such as squid, octopus reached nearly $USD 300 million, up 13%. Exports of other marine fishes also reached $USD 653 million, an increase of 14%.

Currently, the US is the largest seafood import market of Vietnam. In the first 6 months, the seafood export turnover to this market is estimated at over $USD 620 million. The United States followed in turn with Japan and China. Mexico, however, is the market with the strongest growth. Vietnam's seafood exports to this market increased by nearly 77% compared with the same period last year, reaching nearly $USD 50 million.

Meanwhile, the EU gold card has caused tuna and some seafood exports to be disturbed in the first three months of the year, causing total exports to the European market to slow down. As a result, the EU has fallen to fourth place in the major markets of Vietnam. However, export forecasts for this market will rebound in the second half of the year.

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