Processing shrimps for export - Illustrative image (Photo: VNA)According to VASEP, Vietnam’s aquatic exports reached only over 3.2 billion USD in thefirst five months of the year, falling nearly 30% compared to the same periodlast year.
The decline ranged from 10%to 50% in all main export markets, with the US experiencing the sharpest decline (50%), followedby the European Union (nearly 32%) and China (over 25%).
Major seafood export items of Vietnam haverecorded double-digit decreases. Theshrimp exports witnessed the worst with a 34% drop compared to the sameperiod last year, reaching 1.2 billion USD while the exportsof tra fish and tuna reached 841 million USD and 317 million USD, down 30% and 31%,respectively.
VASEP General Secretary Truong Dinh Hoe said the market demandcontinued to weaken, and supply exceeded demand in the first half of2023.
He touched upon the situation of the large inventory and weak consumption,saying that importers are limiting their purchases or only importing at lowerprices, which has resulted in a drop in the export value of aquatic products.
The domestic consumption demand has not shown a strong recovery due to thereduction or loss of income of consumers as a result of the COVID-19 pandemic, he said.
According to VASEP President Nguyen Thi Thu Sac, the US andChina – the two largest importers of Vietnamese aquatic products, haveexperienced the most significant decline.
Many forecasts stated that the seafood demand in many markets may continueto decline in the third quarter of 2023 instead of recovering as previouslyanticipated, she added./.
VASEP General Secretary Truong Dinh Hoe said the market demandcontinued to weaken, and supply exceeded demand in the first half of2023.
He touched upon the situation of the large inventory and weak consumption,saying that importers are limiting their purchases or only importing at lowerprices, which has resulted in a drop in the export value of aquatic products.
The domestic consumption demand has not shown a strong recovery due to thereduction or loss of income of consumers as a result of the COVID-19 pandemic, he said.
According to VASEP President Nguyen Thi Thu Sac, the US andChina – the two largest importers of Vietnamese aquatic products, haveexperienced the most significant decline.
Many forecasts stated that the seafood demand in many markets may continueto decline in the third quarter of 2023 instead of recovering as previouslyanticipated, she added./.
VNA
