According to the latest report from the Ministry of Agriculture and Rural Development, in the first seven months of 2024, seafood export turnover is estimated at 5.29 billion USD. Compared to the same period last year, exports of this product group increased by 7.3%, ranking second in terms of export turnover in the agricultural sector.
Of that total, shrimp exports alone brought in $2 billion, a 7.5% increase compared to the same period last year. Shrimp export value continues to maintain its number one position in the seafood industry.
Currently, Vietnam is among the top 3 shrimp exporting countries in the world , accounting for 13-14% of the total global shrimp export value. Vietnamese shrimp has been exported to approximately 100 countries and territories.
In the first half of this year, a number of "superpowers" such as China, the US, Japan, and the EU continued to spend large amounts of money buying Vietnamese shrimp, contributing to maintaining positive growth in export turnover.
Specifically, shrimp exports to the Chinese market (including Hong Kong) reached $328 million, a sharp increase of 17% compared to the same period last year. Among the top 5 largest shrimp export markets for Vietnam, China recorded the highest growth rate.
In particular, in the first half of this year, China – the largest customer for Vietnamese lobster – significantly increased its purchases, contributing to a dramatic 57-fold surge in exports of this "luxury seafood" compared to the same period last year.
Next is the US market with export turnover reaching $303 million, a slight increase of 1%; exports to Japan reached $229 million, a decrease of 3%; and exports to the EU reached $217 million, an increase of 13% compared to the same period in 2023.
Notably, the price of whiteleg shrimp (the shrimp product with the highest export value in our country) is showing a tendency to rise again in some markets.
Specifically, the average export price of whiteleg shrimp to China increased by 3.1% compared to the previous month, reaching $6.5/kg; to the US increased by 2%, at $10.2/kg; and to Japan increased by 3.4% to $8.8/kg…
Speaking with PV.VietNamNet , Mr. Nguyen Dinh Hien - representative of Thong Thuan Aquatic Products Joint Stock Company (Khanh Hoa) - said that the shrimp market has recovered, but still faces many difficulties due to the impact of global inflation and high sea freight costs… However, shrimp export orders this year have increased significantly compared to the same period last year.
"By June, the orders we had secured were enough for the factory to produce until the end of August this year," the representative said.
After earning $500 million from exports in the first half of this year, 48 seafood processing plants in Bac Lieu , the "shrimp capital," are also stepping up processing and increasing exports for the remaining months of the year – the "golden season" for the seafood industry.
The Vietnam Association of Seafood Processing and Export predicts that shrimp exports to the US, EU, and other markets will experience strong growth in the remaining months of this year. This is because, according to market trends, importers typically increase their purchases to meet the demand for the year-end holiday season.
Furthermore, inventory issues and transportation difficulties will ease, demand will recover, and prices will rise again. Following this trend, Vietnam's shrimp exports will achieve the target of $4 billion this year.
Source: https://vietnamnet.vn/loat-sieu-cuong-gom-mua-doanh-nghiep-viet-ban-con-tom-thu-ve-2-ty-usd-2308110.html
