Image: Vasep / FIS

VASEP Releases Q1/2024 Seafood Export Report

VIET NAM
Friday, May 03, 2024, 07:00 (GMT + 9)

After a continuous decline in the second half of 2023, in the first quarter of 2024, Vietnam's seafood exports have shown signs of a slight recovery with an increase of 6.5% over the same period last year, reaching nearly 2 billion USD. . Exports made a strong breakthrough in January, the period before the Lunar New Year, but tended to slow down in February and March.

The US and China are the two markets that have determined the growth of Vietnamese seafood in the last 2 years. In the first quarter, seafood exports to China and the US both increased positively thanks to increased demand for the Lunar New Year.

Source: Vasep

Shrimp, crab and tuna exports had good sales growth in the first quarter and have a more positive outlook this year. Meanwhile, pangasius exports still decreased slightly over the same period. Other products such as squid, octopus, molluscs, fish cakes, surimi and some marine fish species still did not have good signals in the first quarter of this year.

Inflation and inventory continue to impact seafood consumption and imports in many markets. Besides, there are still many challenges and barriers in 2024 that are affecting Vietnam's seafood production and export such as IUU yellow card for exploited seafood, anti-subsidy tax on warm water shrimp exported to the US, Red Sea tensions increase shipping costs...

Source: Vasep

Does Vietnamese seafood have the opportunity and potential to recover and make a breakthrough in the second half of the year? Are there any favorable opportunities for seafood businesses in the near future? Besides the US and China, which markets will be able to recover demand in 2024? What will be the consumption trends of aquatic products?

We invite businesses and readers to register for the Vietnam Seafood Export Report, Quarter I/2024 to grasp trends, developments and new points in seafood exports in the first months of the year, and identify trends. , demand in import markets, opportunities and challenges of the seafood industry in 2024...

Register for the Seafood Export Report for the first quarter of 2024 here

Source: Vasep (Translated from the original in Vietnamese)

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