Seafood Exports grow slightly

Processing expoted tuna at Binh Dinh Físhery Joint Stock Company. Photo Thu Hòa

According to the Vietnam Association of Seafood Exporters and Producers (VASEP), by the end of October of 2016, the total export value of 3 major seafood products in Vietnam including shrimp, catfish and tuna are showing growth. In particular, shrimp reached $US 2.58 billion, an increase of 5.2% compared to the same period last year. The export value of shrimp continued to increase thanks to the growth in the imports value from the three major markets of the US, EU and China.

The US is continues to be the largest export market for Vietnam shrimp which accounted for 23.4% of total exports. Also during this time, the US market is the largest consumption market for white shrimp. According to the statistics of Vietnam Customs, processed white shrimp increased to double of fresh, live and frozen white shrimp. Also according to the ITC, currently, Vietnam is the 4th largest supplier of shrimp to the US market. While the import value of shrimp from the large suppliers such as Indonesia, India, Thailand, Ecuador fell in the first half of this year, the import value of shrimp from the US has increased slightly over the same period last year.

About China, this market is expected to be the potential market of many export companies in 2017. By the end of October of 2016, the export value of shrimp to this market increased 24.7% over the same period in 2015. The demand for importing shrimp in the Chinese market is growing strongly, while the country's shrimp production is forecast to decline from 1.5 million tons (in 2015) down from 1.2-1.3 million tons (2016) due to disease.

For catfish products, the US and China are the biggest highlights of the export picture in the first 10 months of this year. During this period, the total export value of fish reached $US 1.39 billion, a slight increase of 6.4% over the same period last year. In particular, the USA and China accounted for 39.9% of total exports. The export value of these two markets is positive, exports to the US rose 22.7%; China increased 76.1% over the same period in 2015.

Furthermore, the tariff barriers of anti-dumping and inspection program for catfish, so far, has not influenced the export operation into US market. Currently, exporting catfish in the US is in competition with Chinese tilapia in the US market.

The export value of catfish to the Chinese market has reached $US 235.5 million in the first 10 months of this year. The gap between China and the US is closing. Many people predicted that, in 2017, China could replace the US as the largest export market of Vietnam catfish.

On the other hand, exporting tuna did not increase significantly. By the end of October of 2016, the export value of tuna reached $US 410 million, rose 5.2% compared to the same period last year. During this period, Vietnam enterprises tend to boost exporting tuna products, frozen loin tuna and tuna steamed in loin form or flake form. Exporting frozen loin tuna reached $US 196.3 million, accounting for 47.8% export value of tuna.

Until now, exporting tuna in some major export markets has not grown significantly, in that, exports to the US increased slightly by 0.6%; EU increased by 4.9%, 16.8% of ASEAN; Israel increased by 22.7%; China increased 54.6% over the same period last year. The demand of the world still standing by, the supply is stable; competitive pressures are increasing in most of the major export markets. Therefore, by the end of 2016, tuna exports could rise only by 5-7% compared to the same period last year.