Vietnam aquaculture exports increase 20% in June
According to the Vietnam Association of Seafood Exporters and Producers (VASEP), in June 2021, Vietnam’s aquaculture export turnover was estimated at $865 million, up 20% over the same period last year. With the current growth, aquaculture exports in 2021 are forecasted to reach 9 billion USD in total value.
Shrimp exports this month reached about $402 million, increased 15%, bringing the total shrimp export turnover in the first 6 months to $1.7 billion, up 13% over the same period last year. The main export markets of Vietnamese shrimp such as the US, Japan, Korea, and Germany have all grown well because these markets have increased imports. More specifically, shrimp exports to the US have a monthly growth of 45 – 46%, to Japan by 17%, to Korea by 10%, to Germany by 60%, and to the UK by 15%.
Pangasius exports continued to increase by 35% in 6 months, reaching over $150 million. Totally, the first 6 months of the year reached $788 million, up 18% compared to the same period in 2020. Notably, pangasius exports to the US and some small markets are recovering very strongly. More specifically (In which), exports to the US are increasing by over 170%, accounting for 21%. Exports to Mexico, the UK, Thailand, the Netherlands, Colombia, and Japan all achieved triple-digit growth (from 100 to 450% ). Each of these markets accounts for about 2.5 – 4% of Vietnam’s pangasius export value, which will be potential destinations for Vietnamese pangasius, offsetting the decline in China.
In terms of seafood product exports, by the end of June 2021, Vietnam’s seafood exports reached $1.6 billion, up 16%. In June, seafood exports increased 21%, reached $312 million. Seafood accounts for nearly 40% of Vietnam’s total aquaculture exports. Tuna exports accounted for 9% with $364 million in the first half of the year, up to 24% over the same period in 2020. Exports of squid and octopus increased 15%, reached $277 million, accounted for 7%, and other kinds of fish accounted for 22%, reached $847 million, up to 13%.
According to the Import and Export Department (Ministry of Industry and Trade), Vietnam’s aquaculture exports have recovered to pre-Covid-19 levels since the beginning of 2021, because Vietnamese enterprises take advantages of market opportunity, in the context the domestic supply of raw materials, while some other markets are being strongly affected by the epidemic. It is forecasted that in the second half of 2021, Vietnam’s aquaculture exports will continue to recover when businesses have well adapted to the changes of the market under the impact of the Covid-19 epidemic. The large market increases demand when the economy recovers from the pandemic and the incentives from free trade agreements (FTAs) that have taken effect are also one of the factors supporting this industry.
VASEP also predicted that, except for the Chinese market’s strict control of imports related to Covid-19 testing which affected export sales, export results to key markets and other markets in the half of the year were very positive.
With these optimistic signals, the aquaculture export target of $8.8 – 9 billion by the end of 2021 is a feasible number for Vietnam.