AsemconnectVietnam - In the first 7 months of 2023, Vietnam's tuna export was still 28% lower than the same period last year, reaching US$458 million.

Low demand and purchasing power in some main markets have affected Vietnam's tuna exports. Moreover, the price of raw tuna is still high, which has pushed up the price of the final product, making it more difficult for consumption demand to recover, especially in the current economic context. As of July, Vietnam's export value of frozen tuna meat/loin products still decreased, while exports of processed and canned tuna products increased again. According to statistics of Vietnam Customs, in July, tuna exports reached US$76 million, down 11% over the same period last year. This is the lowest decrease in the first 7 months of 2023. Currently, tuna exports to main markets such as the US, Japan or Canada continue to decline, while exports to the EU continue to prosper.
In the US market, tuna exports have not shown any signs of recovery. The value of tuna exports to this market in July still decreased by 26% over the same period, reaching US$29 million. Following the same trend, tuna exports to Japan and Canada also continued to decline in July, with a decrease of 20% and 38% respectively. However, this is the lowest decrease of all three markets since the beginning of the year.
Shrimp exports to the US and China tend to increase
In July 2023, Vietnam's shrimp exports reached more than US$320 million, down 16% compared to the same period last year. The 16% drop in July was the lowest since the start of the year. By July 2023, shrimp exports reached US$1.9 billion, down 30% over the same period.
Regarding exported products, the decline in export value was more significant for processed vannamei and black tiger shrimp products when compared to fresh and frozen products. Notably, only exports of canned and dried shrimp showed an increase in value, the export value of the remaining shrimp products all experienced a decrease at double digits.
In July this year, exports to major markets such as Japan, EU, Korea, UK, and Australia continued to record negative growth from 15%-46% while exports to some small markets such as Singapore, Taiwan,and Switzerland still maintained positive growth from 18%-63%. The highlight in July this year was the positive growth in shrimp export turnover to the US and China & HK.
After continuous drop during the first 6 months of the year, shrimp exports to the US in July recorded the first positive growth milestone with an increase of 14%. Shrimp exports to China & HK also had positive sign since the beginning of the year with a rise of 49%.
Vietnam's shrimp exports to China & HK in July 2023 reached US$57 million, up 49% over the same period in 2022. In the first 7 months of this year, shrimp exports to this market reached US$338 million, down 9 % over the same period.
Accoring to data from China Customs, China's warm water shrimp imports in the first 6 months of this year increased by 49% year-on-year to 502,669 tons. Total import value increased 29% to US$2.84 billion. This shows that China's shrimp demand is strong despite the slow economic recovery after the COVID-19 pandemic.
VIETFISH – Supporting the Vietnamese Seafood Industry for a quarter of a century
VIETFISH 2023 will officially take place at the Saigon Exhibition and Convention Center from August 23 to 25, 2023, with the theme: 'Quality Connected Destination.' The event marks a 24-year journey of the VIETFISH and is also the starting point for a new and energetic journey.
VIETFISH is organized annually by the Vietnam Association of Seafood Exporters and Producers (VASEP), a pioneer in all activities related to the Vietnamese seafood industry. Along with the development of VASEP, VIETFISH has also gained remarkable achievements. Serving as the first playground for businesses to exhibit seafood products that meet the highest food safety requirements of the world market, it shows the continuous efforts of the Vietnamese seafood business community. Alongside the strong growth of the seafood industry, VIETFISH has created a reliable Vietnamese seafood brand domestically and internationally.
For over two decades, VIETFISH has consistently pursued the mission of creating a professional exhibition—a reliable and inviting destination for the business community. VIETFISH has established a reputation throughout the country, making it the most anticipated and attractive event in the seafood industry.
Sao Ta Foods (FMC): July sales increased by 18% compared to June 2023
Sao Ta Food JSC (stock code FMC - HoSE) has just announced its business results in July 2023 with overall sales of US$ 21.3 million. The above sales are equivalent to the same period last year, but compared to June 2023, sales have increased by 18%. This is also the highest revenue in nearly 1 year of this business.
Sao Ta Food said that in July 2023, finished shrimp production reached 2,338 tons, up 9% over the same period last year; production of finished agricultural products reached 66 tons, down 46% over the same period; finished shrimp consumption reached 1,953 tons, up 19% over the same period last year; Consumption of finished agricultural products reached 187 tons, down 11% over the same period.
Regarding the situation of shrimp farming, a business representative said that in mid-July, the new area had been stocked; and is stocking the second crop in the old area, and is expected to complete the stocking on August 5.
Sao Ta Food is currently one of the largest shrimp processing and exporting enterprises in Vietnam. Since the end of last year, seafood enterprises in general have faced many difficulties in production and export due to high inventories in key export markets, economic difficulties causing a sharp drop in consumption demand.
In addition, the disease status on breeding stock and the high price of animal feed also negatively affect the business activities of seafood processors and exporters.
T.Huong
Source: Vitic/VNA