Aquatic exports rebound in April

Statistics indicate that the country raked in US$285 million from exporting shrimp in April, reaching the highest level since the beginning of the year.

During the four-month period, the shrimp industry grossed US$971 million, up 6% against the same period from last year.

Insiders assessed that shrimp exports showed signs of recovery as importers' inventories decreased, thereby leading to a rise in import demand.

Meanwhile, pangasius exports to major markets in April also witnessed an upturn of 13% to US$168 million after experiencing a continuous decline in both February and March.

Along with key items such as frozen pangasius fillets, local businesses tended to increase the introduction of deeply processed pangasius and value-added products.  

From January to April, pangasius exports edged up by nearly 2% to reach US$579 million compared to the same period from last year.

Elsewhere, tuna exports in April surged by 28% to over US$86 million, raising the total export value during the four-month period to US$301 million, up 22% on-year.

Most notably, crab exports in April maintained an impressive growth rate of 101%, with China being the nation’s leading export market.

According to experts, along with live crabs, there is plenty of room ahead for Vietnamese products such as live lobsters and sea cucumbers in the Chinese market due to its favourable geographical location and competitive advantages compared to frozen items.

Among the top five largest consumers of Vietnamese aquatic products, only seafood exports to Japan and the Republic of Korea increased slightly in April, while exports to the EU and United States experienced a downward trajectory. Indeed, exports to China - Hong Kong dropped by over 22%.

Insiders attributed this decline to high inflation and inventories in importing countries. VASEP experts expect that inventories and oversupply sources will gradually decrease and are expected to facilitate seafood exporters’ activities in the second half of the year, thereby opening up a wealth of export opportunities for the seafood industry.

Source: VOV