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Vietnam’s seafood exports in June were lower than in the first three months of 2022, in line with previous warnings by local industry players who forecast a drop in seafood demand in key global markets due to inflati.
Industry insiders have warned that the industry will face increasing challenges in the coming mont.
Vietnam’s seafood exports in June were US$1 billion, up 19% year-on-year, but down 5% month-on-month, 11% lower than April, and 3% lower than Mar.
The United States is the largest buyer of Vietnamese seafo.
In June, Vietnam’s seafood exports to the United States amounted to US$217 million, a year-on-year decrease of 6% and a month-on-month decline of 1
MoM decreased 21%; sales to other key markets such as Canada, the Netherlands, the UK and Thailand decreased 4% to 10% M.
In June, Vietnam’s seafood exports to the United States amounted to US$217 million, a year-on-year decrease of 6% and a month-on-month decline of 1
MoM decreased 21%; sales to other key markets such as Canada, the Netherlands, the UK and Thailand decreased 4% to 10% M.
Japan was one of the only large markets in Vietnam that saw both year-on-year and month-on-month sales growth in Ju.
Sales to Japan totaled US$161 million in the month, up 28% year-on-year and 3% month-on-mon.
Sales to Japan totaled US$161 million in the month, up 28% year-on-year and 3% month-on-mon.
In the first half of this year, Japan became the largest market for Vietnam's largest shrimp exporter, Minh Phu Seafoods, with sales up 34 percent year-on-year to $79 million, while the company's exports to the.
market fell 29 percent year-on-year to $53 milli.
market fell 29 percent year-on-year to $53 milli.
The Vietnam Association of Seafood Exporters and Producers (VASEP) also said high inflation levels, restrictive measures in China aimed at containing COVID-19, conflict between Russia and Ukraine, labor shortages, and disruptions to.
supply chains have all affected Vietnamese shrimp in the.
sales and consumpti.
supply chains have all affected Vietnamese shrimp in the.
sales and consumpti.
Vo Thi Tuong Oanh, sales director for Vietnam at Siam Canada, said the drop in sales is a combination of factors, including a lack of supply due to weather issues, prolonged rains that have affected Vietnam's recent shrimp production, and fishermen who are hesitant to produce due to fuel cos.
decisi.
decisi.
Ho Quoc Luc, president of Vietnamese shrimp exporter Fimex (Sao Ta), has a less optimistic outlook for the shrimp industry in the second half of 2022 than in the first half of this year, saying that due to the extremely low salinity in the river water due to the recent heavy rains, many local fishermen are concern.
Hesitant to start storing water, the spread of shrimp disease has forced some fishermen to harvest earlier and sell shrimp in smaller sizes than in previous yea.
Hesitant to start storing water, the spread of shrimp disease has forced some fishermen to harvest earlier and sell shrimp in smaller sizes than in previous yea.
In terms of the market, Vietnamese shrimp is facing competition and challenges from India, Ecuador and Indones.
Various shrimp producing countries are actively expanding the US market, making the competition in this market more inten.
Various shrimp producing countries are actively expanding the US market, making the competition in this market more inten.
Vo Thi Tuong Oanh said that competing countries can provide shrimp products with lower prices, and the price difference is due to the increase in production costs in Vietnam, involving packaging, transportation, labor,e.
Catfish is Vietnam's second largest seafood export after shrimp, and its overseas sales growth is also slowi.
Ta Ha, a catfish expert at VASEP, said that although Vietnam exported catfish worth US$21 billion in the first five months of 2022, up nearly 90 percent year-on-year, the outlook for the rest of 2022 is less robust due to changes in the global mark.
Ta Ha, a catfish expert at VASEP, said that although Vietnam exported catfish worth US$21 billion in the first five months of 2022, up nearly 90 percent year-on-year, the outlook for the rest of 2022 is less robust due to changes in the global mark.
Catfish fishermen in Vietnam start stockpiling in April and May, so a large amount of catfish will flood the market in August or Septemb.
Demand for catfish in the.
market is likely to be moderate in August and September, according to data from Siam Canadi.
Demand for catfish in the.
market is likely to be moderate in August and September, according to data from Siam Canadi.
Sales of tuna and other wild species caught in Vietnam are also expected to be flat or do.
In the first half of 2022, the country's shipments of tuna and other wild seafood were valued at US$553 million and US$950 million, up 56% and 12% year-on-year, but VASEP experts say that due to shortages of processing materials, this Growth is unlikely to continue in the second half of the ye.
In the first half of 2022, the country's shipments of tuna and other wild seafood were valued at US$553 million and US$950 million, up 56% and 12% year-on-year, but VASEP experts say that due to shortages of processing materials, this Growth is unlikely to continue in the second half of the ye.
As much as half of Vietnamese fishing boats are stuck ashore due to rising fuel prices, the Ministry of Agriculture and Rural Development sa.
VASEP experts said this could lead to the closure or reduction of capacity in the next three to six months for hundreds of processing plants in the country, which are completely dependent on a stable domestic supply of seafo.
