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Crab Exports Grow in the Second Half of the Year

Click on the flag for more information about Viet Nam VIET NAM
Friday, December 08, 2023, 07:00 (GMT + 9)

After a continuous decline in the first half of 2023, Vietnam's crab exports tend to recover in the second half of the year. In October 2023 alone, Vietnam's crab exports increased by 25%, reaching nearly 25 million USD. Cumulatively in the first 10 months of 2023, exports of this product group reached 161 million USD, down 14%.

Source: Amazon -->

Of which, 44% of export turnover comes from Vietnam's main export products, which are salted, live and frozen crabs and other crustaceans, with a value of nearly 61 million USD. Compared to the same period in 2022, exports of Vietnam's crab and other crustacean product groups all decreased, except for other processed products, which increased by 26%.

By the end of October 2023, Vietnamese crab and other crustacean products were exported to 32 markets around the world. In 2023, due to the impact of inflation causing limited consumer demand and orders, Vietnam's export market for crabs and other crustaceans will be narrower than the same period.

Among export markets, Japan, the US, China and Hong Kong, France, Canada and the UK are the six markets that import the most crabs and other crustaceans from Vietnam, accounting for 96% of total export turnover.

In general, Vietnam's exports of crabs and other crustaceans to main markets still decreased over the same period, such as China and the United States down 75%, France down 41%, or the UK down 23%... However, There are also some markets that increased imports such as Japan increased by 38%, the US increased by 2% and Canada increased by 22%.

Source: Vasep

Most notable among these markets is Japan. Continuously since the beginning of the year, Japan is the only country that has continuously increased crab imports from Vietnam since the beginning of the year. Along with Japan, Canada is also a country that has sharply increased imports of crabs from Vietnam in many months since the beginning of the year, with some months when exports to this country increased by up to 3 digits.

According to statistics from Vietnam Customs, there are more than 100 enterprises nationwide participating in exporting this product group. Among them, the three companies that export the most are Trung Son Long An Co., Ltd, Trung Son Hung Yen Foodstuff Corp. and Trinity Vietnam. 

Author: Nguyen Ha | Vasep (Translated from the original in Vietnamese)

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