Vietnam’s Export Quality Seafood Products – An Important Economic Sector of The Country
For many years now, Top 4 Vietnam’s export quality seafood products are still shrimp, pangasius, marine fish, molluscs and frozen aquatic products and dried and processed aquatic products. In addition, there are high-end products such as abalone, tuna, clams and other seafood products… which are gradually being added, but the output is still small compared to the international supply demand.
Although the fishery industry has been applying advances in science and technology, compared to developed countries, we are still not strong enough to compete in general. Especially in the complicated epidemic situation, the seafood industry is also facing a high risk. As of early October 2021, Vietnam’s Export Quality Seafood Products to more than 150 markets worldwide. In which, there are 6 leading markets, namely Japan, USA, China, EU, Korea and ASEAN, accounting for nearly 80% of export turnover, and each market has almost different needs for each item.
Export of squid and octopus
Squid and octopus are one of the most popular Vietnam’s export quality seafood products. And according to estimates, the top 10 single markets that import this item the most must take into account, respectively, South Korea, Japan, Thailand, China, Hong Kong, Italy, the US, Malaysia, Taiwan, Australia and China. The Netherlands accounts for 97% of Vietnam’s total export price of squid and octopus.
According to statistics, Korea imports the most frozen octopus, and Vietnam has over 50% market share in the supply of the largest frozen octopus line. In the frozen octopus segment, processed octopus and frozen cut octopus are the two main products exported by Vietnam here. Besides, peeled squid, frozen cleaned processed squid, frozen sushi squid, cleaned frozen cuttlefish fillet, frozen pinecone cut squid, frozen cleaned whole octopus, marinated cut octopus Frozen processed ice and octopus are also mainly imported products by Korea. In October 2021, exports of squid and octopus to South Korea increased by 16% over the same period last year.
After Korea, the EU also ranked 4th in importing this item in Vietnam, accounting for 10.3% of the total export value. As of October 2021, this item has increased by 27% over the same period last year. More clearly, Italy, the Netherlands and Spain are the three largest importers of Vietnamese squid and octopus in the EU.
Shrimp export
One of Vietnam’s export quality seafood products standing at No. 1 is nothing but shrimp. Thanks to the stable quality and variety of products from frozen to processed shrimp, it is suitable for all segments of the import market. However, whiteleg shrimp and black tiger shrimp for export are facing many competitors in major markets such as the US, EU, Japan, China, UK and Australia.
If South Korea is the largest import market for Vietnam’s squid and octopus, for shrimp, Japan is the largest shrimp import market in the CPTPP block. But due to a part of the impact from the Covid epidemic, shrimp exports to Japan were unstable, increasing from March to July but decreasing from August to November. Canada, Australia or Singapore are controlled areas. Due to the good epidemic, the import demand here is not affected much. In Canada, this is the second largest shrimp import market of Vietnam in the CPTPP, Canada is a country with high income from the people. This market has a huge potential.
Fish
It can be said that pangasius and tuna are the two most popular imported fish products in the world. Among tuna import markets outside the EU, Vietnam is the third largest supplier of tuna to Germany, accounting for 5.3% of Germany’s total tuna imports in the first 4 months of 2021. With pangasius , the total global pangasius production may increase to 6% in 2021 and is expected to increase by 2.1% in the following year, to more than 3 million tons for the Philippines and Indonesia markets. In addition to pangasius, tuna, ocean cod, Alaska pollock, catfish, white fish, and whole Icelandic cod are also seafood exports of Vietnam.
Before the pandemic, Singapore and Malaysia were two promising and attractive markets for many Vietnamese pangasius exporters with stable consumption and strong growth. However, due to the impact of the epidemic, trade has become difficult, and the Philippines and Indonesia have been replaced as two notable markets this year. With tuna, Vietnam also has a large reserve and exploitation potential and is currently a commodity consumed in many countries around the world. In Australia, which is one of the few markets where Vietnam’s tuna import growth is high up to three digits, accordingly, the export value of tuna has grown continuously with many countries of the Middle East and the EU. , Asian.
The current situation of Vietnam’s Export Quality Seafood Products in 2021 and the future
Despite being affected by the Covid-19 pandemic, Vietnam’s Export quality seafood products industry has continued to grow in a positive direction since the beginning of 2021. For example: Shrimp increased by 13%, pangasius increased by 18%, tuna increased by 24%, especially, molluscs such as oysters, clams, clams, etc., although the export turnover is not high compared to other commodities, the growth rate is high. growth again up to 45%. A more positive sign is that Vietnam’s seafood exports in the main markets also increased strongly, Russia increased by 61%; the US increased by 37%; Europe by 21%; markets of countries participating in CPTPP increased by 12%; Only the Chinese market decreased by 6%. But now, the export of seafoodShrimp in Vietnam is still leading in many major markets such as the EU, the US, Japan and Korea.
According to Deputy Minister of Agriculture and Rural Development Phung Duc Tien, currently, the seafood export industry in Vietnam has a solid foundation that can compete with competitors in the international market. Therefore, as long as the COVID-19 epidemic is well controlled to maintain production, the opportunity will be expanded in the export market. Director General of the Directorate of Fisheries Tran Dinh Luan also added that the export of shrimp in particular and seafood in general in 2022 will have more challenges, in which the criteria for food safety inspection, handling heat, and immunity. But it is both a challenge but also an opportunity for us to participate in the global market.
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Marina Nguyen
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