Tag: vasep

The US is the top import market for Vietnamese shrimp and tuna and ranks as the second largest for pangasius (tra fish).

The main reason for the sharp increase in prices for larger catfish was the very limited quantity available, according to VASEP.

VASEP predicts that seafood exports will hit the annual export target by the end of November as the industry rapidly recovers.

The Vietnam Association of Seafood Exporters and Producers (VASEP) has said that Vietnam’s pangasius exports reached over $1.8 billion in the first eight months of 2022, up 81 per cent year-on-year. Exports to the US accounted for 23 per cent, worth more than $421 million, up 87 per cent year-on-year. The average price of frozen pangasius fillets exported to the US in August was a record $5 per kilo.

Seafood export turnover in August was 54 per cent higher than in August 2021 and rose 35.5 per cent year-on-year in the first eight months of 2022. However, the Vietnam Association of Seafood Exporters and Producers (VASEP) has said that this growth does not offer an optimistic outlook because it comes from a low base and exports fell to below $1 billion in July and the trend continued in August.

According to the Vietnam Association of Seafood Exporters and Producers (VASEP), after increasing from 39 per cent to 62 per cent in the first four months of the year, seafood export growth has slowed since May, primarily because of a lack of raw materials. It has been forecast that exports will grow more slowly in the third quarter than in the early parts of the year.

According to the Vietnam Association of Seafood Exporters and Producers (VASEP), seafood export turnover stood at nearly $3.6 billion in the first four months of this year, up 44.5 per cent year-on-year, in which pangasius exports reached 60 per cent of the annual target and shrimp exports totaled $1.36 billion, a 41.5 per cent increase year-on-year.

According to a survey conducted by the Vietnam Association of Seafood Exporters and Producers (VASEP) at the end of August, only 30-40 per cent of seafood enterprises in southern cities and provinces are currently operating. It is estimated that seafood production capacity in the south has fallen by 60-70 per cent compared to the same period last year.

Vietnam’s tuna exports to the US and European markets increased sharply in the first quarter of 2021, by 21 per cent year-on-year to $355 billion. The Vietnam Association of Seafood Exporters and Producers (VASEP) has, however, predicted that growth may slow in the months to come because of higher transportation costs.