Seafood exports hit US$5.5 billion in 10 months

Since the second quarter of this year, the volume of shrimp has increased sharply due to a decline in world supplies while that of other seafood products stayed almost at the same level.

According to the Vietnam Seafood Exporters and Processors (VASEP), a steady rise in shrimp exports has contributed to the sector’s positive growth of 6.4%. Shrimp exports will continue to grow on key markets, such as the US, EU, Japan and China from to the end of this year.

In the first nine months of this year shrimp exports hit more than US$2 billion and are estimated to reach US$2.4 billion by October (up 30 %) to fetch US$2.8 billion, a year-on-year increase of 27%.

White-legged shrimp shipments in October alone were estimated at nearly US$200 million (up 168%), raising the ten-month figure to US$1.18 billion (up 95%) from a year earlier.

In 2013, global shrimp output dropped by 15% compared to two years ago due to the spread of early mortality syndrome (EMS) disease in Mexico and Asia. Located at the centre of epidemics are the world’s leading processors - Thailand and China, thus providing opportunities for other suppliers like India, Ecuador and Vietnam to gain the upper hand. Vietnam’s shrimp export value sees an average monthly rise of 19-66% in the reviewed period, except in February (down 32.8%).

Experts say shrimp exports from now to the end of this year will further pick up as prawns and while-legged shrimps are most favoured in the Japan and US markets.

Meanwhile, tra fish exports were on decline due to low consumption demand, with the 9-month volume worth US$1.3 billion (down 1.4%) and estimated at US$1.43 billion by October (down nearly 2%).

Tuna and other seafood products also saw a decline in export value, such as octopus (down 17.2%), crabs (12.3%), fish (5.7%), tuna (4.5%) and molluscous (4%).

From now to the end of this year, mollucuos exports will continue to go down – a negative sign for the fifth consecutive year.

Tuna exports have already dropped sharply by 20% in recent months and their total value in 2013 is estimated at US$540 million, 5% less than last year’s figure.

However, with more than 600 businesses exporting different products to 165 markets, the seafood sector’s yearly export volume will exceed the US$6.5 billion mark to achieve a –year-on-year increase of 5%.