VASEP predicts that Vietnam’s seafood exports will show a positive growth but the speed will slow down due to high production costs, the IUU yellow card, and material shortage.
According to VASEP, Vietnam’s exportation of wild-caught seafood will reach nearly USD 377 million in April, up 24% from the same period last year.
The accumulated value of the first four months reached over USD 1.3 billion, up 26% as compared to the same period last year, accounting for 35% of the total seafood export value of the whole country.
The exported species include marine fishes (except for tuna and pangasius), which accounts for 46.2% of the total seafood export value, tuna which accounts for 28.4%, cuttlefish and octopus which account for 16.4%; crab, sentinel crab and other crustacean which account for 5.3%, bivalves which account for 3.6%, and other mollusks which account the remaining percentage.
A noticeable growth rate was recorded in sales of tuna with 63%, reaching nearly USD 368 million.
Exports of crab, sentinel crab, other mollusks, cuttlefish and octopus increased by 59% and 30% respectively. Exports of mollusks rose by 28% and exports of marine fish slightly increased by 7%.
On the other hand, exports of other mollusks decreased by 49%; however, just a small amount of them were sold.
According to VASEP, Vietnam’s seafood exports will show a positive growth but the speed will slow down due to high production costs, impact of the Covid-19 pandemic, the IUU yellow card, and material shortage.
The seafood export value is estimated to reach USD 3.2-3.3 billion in 2022.