AsemconnectVietnam - According to information from the Vietnam Association of Seafood Exporters and Producers (VASEP), Vietnam's seafood exports in the first 9 months of 2024 reached 7.16 billion USD, up by 8.5% over the same period of 2023.

In the third quarter of 2024 alone, Vietnam's seafood exports reached 2.76 billion USD, up by nearly 13% over the same period last year. In particular, key products all had significant breakthroughs, including pangasius up by 13.5%, shrimp exports up by 17.5%, crabs up by 56%, and shellfish up by 95%.
Shrimp was the main export product of Vietnam's seafood industry
The Vietnam Association of Seafood Exporters and Producers (VASEP) said that in the first 9 months of 2024, among Vietnam's seafood export products, shrimp brought in the highest export turnover, estimated at nearly 2.8 billion USD, up by 10.5% over the same period of 2023.
According to VASEP, Vietnam's shrimp exports to several major markets all achieved positive results.
As of September 15, 2024, shrimp exports to the US reached 516 million USD, up by 8%. The exports to the EU reached 337 million USD, up by 15%; the exports to China and Hong Kong (China) reached 529 million USD, up by 26%; and the exports to Japan recorded a turnover of 342 million USD, down by 1% (the decrease was lower than at the beginning of the year).
According to data from the US National Oceanic and Atmospheric Administration (NOAA), in the US market, in August of 2024, Vietnam's shrimp exports recorded more positive results than other competitors such as India and Ecuador when shrimp exports from these sources to the US all decreased.
The average import price of shrimp from Vietnam to the US recorded an increase from 4.59 USD/pound in July of 2024 to 4.95 USD/pound in August of 2024. The price per pound also increased slightly compared to the same period last year, as the average price was 4.93 USD/pound in August of 2023. August was also the month that recorded the highest shrimp imports to the US since the beginning of the year, although the figures still recorded a decrease compared to the same period last year.
In 2024, frozen shrimp exports will still be affected by the price trend that has not clearly recovered, along with competitive selling price pressure with Ecuadorian and Indian shrimp. However, Vietnam's processed shrimp still has a good position in the markets. Therefore, by the end of September, processed white-leg shrimp exports still increased by nearly 10%, while frozen white-leg shrimp exports increased slightly by 4.5%. In the first 9 months of the year, white-leg shrimp exports reached nearly 2 billion USD, and black tiger shrimp exports reached 334 million USD.
Vietnam's raw shrimp prices have been more positive since July this year. The prices of raw white-leg shrimp of sizes 50, 80, and 100 pieces/kg increased steadily from July to September. The average price of Vietnamese shrimp exported to the US and EU also increased from June; the export prices to China and Japan also recorded a slight increase.
VASEP expects raw shrimp prices to remain positive in the fourth quarter, but there is a possibility of local raw material shortages as this is the period when China will increase purchases for the Lunar New Year and New Year holidays, and businesses need raw materials to boost production of year-end orders.
Exports of tra fish, tuna and other seafood products in the first 9 months of 2024
Tra fish exports in the first 9 months of this year brought in a turnover of 1.46 billion USD, up by 8% over the same period last year. Of which, although the processed tra fish group accounted for a modest proportion, it increased dramatically, with 42%; frozen whole tra fish increased by 24%; frozen fillet/cut tra fish increased slightly by 4%.
By the end of September, tuna exports increased by 16% over the same period last year, reaching 715 million USD. Of which, frozen tuna loin/fillet accounted for 48% with 346 million USD, up by 9.6%, canned tuna exports accounted for 30% with 214 million USD, up by 16.6%. Most of the tuna export growth was the result of the first half of the year.
For squid and octopus, the processed product segment also had better export signals than frozen products. Accordingly, processed squid exports increased by 22% in the third quarter and increased by 13% in the first 9 months. However, the total squid and octopus exports in the first 3 quarters still decreased slightly by 2.7% over the same period, reaching 464 million USD.
Crab exports have always maintained a high growth rate since the beginning of the year. In the third quarter alone, exports of this product increased by 56% and in the first 9 months of 2024, they increased by 66% to 227 million USD, mainly due to the sharp increase in live crab exports to the Chinese market.
Vietnam's seafood exports are forecast to reach 9.5 billion USD in 2024
According to VASEP, because of continuing to grow in September, seafood exports are showing positive signs for the seafood industry community, with the belief that in 2024, exports will achieve better results than in 2023 with an expected turnover of 9.5 billion USD, an increase of 7%. Of which, shrimp exports are estimated to reach nearly 4 billion USD, pangasius reaches about 2 billion USD, tuna is approximately 1 billion USD, squid and octopus are about 640 million USD, the rest are marine fish and other seafood products.
CK
Source: VITIC/congthuong.vn