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Vietnamese seafood seizes a “golden” opportunity

Vietnamese seafood enterprises have not missed the opportunity by immediately taking the “golden” opportunities to increase exports and close contracts with much higher prices than in 2021.

The Vietnam Association of Seafood Exporters and Producers (VASEP) said that in April 2022, seafood exports continued to bring in over US$1 billion with a strong growth of 41% over the same period in 2021. Meanwhile, shrimp exports still maintained a high growth rate of 35%, while pangasius exports more than doubled compared to April 2021.

Estimated seafood export results in the first four months of this year nearly touched the USD 3.6 billion mark, 44.5% higher than the same period last year.

Vietnamese seafood seizes a

The US and Chinese markets create the main gravity

According to Ms. Le Hang – Deputy Director of VASEP.PRO Center, the main focus of seafood export is still on the two main markets, China and the US, accounting for 32% and 24.5% respectively. Both these markets recorded triple-digit growth in the first four months of this year, specifically: China increased by 161% to US$306 million, the US increased by 128% to over US$232 million.

In April 2022, shrimp exports still maintained a high growth rate of 35% and reached 406 million USD, bringing shrimp turnover in the first 4 months of this year to 1.36 billion USD, up 41.5% over the same period last year. year 2021.

Pangasius exports in April 2022 more than doubled compared to April 2021, with a turnover of 297 million USD. As a result, in the first four months of the year, the pangasius industry earned over 950 million USD in foreign currency, up 94%.

After 2 years of being restrained because of the COVID-19 pandemic, demand in markets recovered and boomed, supply in markets was not enough, and price inflation increased. At the same time, the military conflict between Russia and Ukraine makes the global seafood supply more unstable, especially white fish products.

“Vietnamese seafood enterprises have not missed the opportunity by immediately seizing the “golden opportunities” to increase exports and close export contracts at much higher prices than in 2021.

In the US market, exports of shrimp, pangasius and other key products all recorded high growth compared to the previous year, especially pangasius,” said Deputy Director of VASEP.PRO Center.

Currently, US catfish production has decreased, inflation in the US has increased, anti-dumping tax (CBPG) in the POR17 period has benefited many pangasius businesses, and the number of pangasius businesses allowed to export to the US is increasing, along with the average pangasius export price to the US peaking…

Those are the 5 main factors that made pangasius exports to the US in the first four months of this year increase dramatically.

Total seafood exports to the US in the first April of 2022 increased by about 79% to over US$266 million. By the end of April, seafood exports to the US earned US$842 million, up 74% over the same period in 2021.

Meanwhile, in China, the COVID-19 epidemic is still breaking out strongly in the country and the strict application of the “Zero COVID” policy by the Chinese Government has made seafood exports to this market difficult. congestion, due to many import ports being closed, and more and more rigorous testing for COVID-19 on frozen seafood.

However, Vietnam’s seafood exports to China in April 2022 more than doubled to $216 million. Accumulated in the first four months of the year, seafood exports to this market were estimated at US$578 million, up 94% over the same period last year. Pangasius alone accounts for 53% of seafood exports to the Chinese market.

“Because many factories in China were closed, resulting in production stagnation, this market suffered from a shortage of seafood supply for domestic consumption and export processing. Therefore, the demand for imported aquatic products increased. China’s production is increasing, attracting more Vietnamese seafood enterprises to boost exports to this market of more than 1.4 billion people despite the above challenges”, Ms. Le Hang emphasized.

Besides, seafood exports to the EU, Japan, Korea and many other markets also recorded double-digit growth in the first four months of the year. However, the US and China will continue to occupy the main weight, determining the growth rate of Vietnam’s seafood exports in the coming months. It is forecasted that seafood exports in the second quarter of 2022 will reach $2.8-3 billion, an increase of about 36-38% over the same period in 2021.


According to Nguyen Huyen

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