China, US, Japan – largest importers of Vietnam’s fishery products in Q1
China, the US and Japan were the three largest importers of Vietnam’s fishery products in the first quarter of this year, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).
Hanoi (VNA) – China, the US and Japan were thethree largest importers of Vietnam’s fis♉hery products in the first quarter ofthis year, according to the Vietnam Association of Seafood Exporters andProducers (VASEP).
Exports to the US saw the highest increase in the period, by 16%, to 330 millionUSD, with shrimp shipments rising by 15%, and that of tuna, tra fish and crab surging by between 13% and 53%. Meanwhile, exports to China and Hong Kong (China)increased by 15%. China was the biggest importer ofVietnamese tra fish, white-legged shrimp, lobster, anchovy and crabs.
According to VASEP, as China is tightening control oflobster import from Ecuador, Vietnam sees an opportunity to increase itsexports. In the first quarter of this year, Vietnam’s lobster export to Chinawas seven times higher than that of the same period last year. Moreover, itsexport of white-legged shrimp also increased 2.5 times.
Vietnam’s exports of fishery products to Japan also sawpositive signals, VASEP’s communicationꦍ director Le Hang said.
The export of Vietnamese white-legged shrimp, crab andtra fish to Japan picked up by 20%, 23% and 25% respectively compared to the sameperiod last year. Exports of Vietnamese shrimp and tra fish to the EU andthe Republic of Korea (RoK) have not seen clear signs of recovery. However,Vietnam’s tuna shipments to these markets grew positively - up 27% to the EU andup 15% to the RoK. In general, tuna exports to major markets saw good growth in the first quarter with increases of 30% to the US and 9% toJapan. Hang said that after international fishery product fairsheld in the EU, the US and Japan, it’s expected that Vietnamese exporters cangain more orders and Vietnamese products can be sold at better prices. VASEP forecasted that in 2024, Vietnam’s shrimp industrywill continue to compete with Ecuador and India in terms of prices and supply.Oversupply will likely happen in the first half of this year. Meanwhile, trafish inventory in the US, China, and the EU will shrink and exportprices will increase again in those markets. As Vietnam’s fishery exports are expected to gradually recover in the second half of this year, the country’s exports in the wholeyear 2024 is estimated to reach 9.5-10 billion USD with shrimp bringinghome 4 billion USD, tra fish 1.9 billion USD and other fishery products 3.6-3.8billion USD, according to VASEP./.
Vietnam's aquatic product exports could reach 9.5 billion USD in 2024, said Nguyen Thi Thu Sac, Chairwoman of the Vietnam Association of Seafood Exporters and Producers (VASEP).
Facing strong competition from foreign rivals, Vietnam’s shrimp industry is promoting deep processing, generating big profits for both processors and exporters.
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Illustrative photo (Photo: tapchicongthuong.vn) 
