Crab exports have not recovered
After a consecutive slump in quarter 4 of 2022, Vietnam didn’t see any sign of recovery in exportation of crabs and other crustaceans in the first two months of the year. The crab export value reached nearly USD 19 million in the first two months of 2023, down 2% from the same period last year.
Exports of crabs and other fresh, frozen, dried and salted crustaceans, key exported species of Vietnam, reduced by 44%. Exports of canned products declined by 74% and exports of processed products rose by 18%.
High inflation resulted in poor sales in markets, thus exports of Vietnamese crab and crustaceans reduced in the first two months of 2023 as compared to the same period last year.
Japan, the US, China, Canada, and the UK are the top five importers of Vietnamese crabs, accounting for 94% of the total export value in the first two months of the year.
A growth in sales of crabs and other crustaceans has been recorded in Japan since quarter 4 of 2022. The export value to this market in the first two months of 2023 increased by 128% from the same period last year, reaching over USD 8.2 million. This has put Japan to the biggest market of Vietnamese crabs and crustaceans early this year from the third position in the first two months of 2022.
Likewise, Vietnam saw an increase in sales of crabs to the UK, with USD 338 million worth, up 33% from the same period of 2022.
Meanwhile, exports to other markets declined. Even though China opens their market, exports to this market have not shown any sign of recovery. Exports of crabs and other mollusks to China reduced by 79% in the first two months of 2023, reaching nearly USD 3 million.
Exports to the US and Canada were not better while 54% and 17% decrease were recorded respectively.