Seafood exports continued to rise by 10% in October with around $923 million, making the total seafood export value reach nearly $7 billion in the first ten months of the year.
In October, shrimp exports continued to grow by over 21%, valued at $419 million, making the total export value up to $3.1 billion in the first ten months of the year and up 12% compared to the same period last year. An increase in sales of frozen white leg shrimp were recorded in the retail market in the US and EU. Meanwhile, sales of black tiger shrimp decreased by 15% as compared to the same period last year.
Since September, exports of pangasius showed some positive signs with only 17% year-on-year decrease. This number was 3% in October with a worth of $175 million. The accumulated export value of pangasius as of October reached over $1.2 billion, down nearly 26% as compared to the same period last year.
In October, Vietnam brought in nearly $330 million from exporting marine products, up 6.4% from last year, with only tuna being recorded to reduce by 5.4%. Sales of cuttlefish and octopus increased by 15%, crabs and sentinel crabs increased by 24% and mollusks increased by 10%. The total export value of marine products reached $2.62 billion as of late Oct 2020, down 1.8% as compared to the same period last year.
The export sector has adapted to the COVID-19 pandemic. Besides, the entry into force of EVFTA on Aug 01, 2020 has brought some benefits to the seafood export results for the last three months and it is forecasted to increase in the last three months of the year.
This may give a forecast of $8.45 billion worth in exporting seafood in 2020, slightly down 1.5% as compared to the previous year.
VFM
