Pangasius export value hit USD985 million in the seven months
Seafood export was valued at USD4.32 billion in the seven months, a year-on-year rise of 15%.
Earlier this year, VASEP forecast seafood export value would hit about USD7.4 billion for the whole year, up 6% over a year earlier. However, thanks to the seven-month growth, on July 31st, the association adjusted its export forecast for the year.
This is not the first time Vietnamese seafood exporters and processors achieved this figure. In 2014, for the first time in many years, Vietnam earned USD8 billion from seafood export. However, due to fluctuations of the market, seafood export value gradually decreased in ensuing years.
According to VASEP, this year, although pangasius export is facing difficulties in the US market due to issues related to Farm Bill, China replaced the US to become the biggest pangasius consumption market of Vietnam. In addition, rising demand in other markets helped pangasius export value in the seven months reach USD985 million, up 6% compared to the same period last year.
Statistics by VASEP showed that most of Vietnam’s seafood export commodities during the period saw increases. Specifically, tuna export bagged USD316 million, up 19%, while octopus and squid exports were valued at USD329 million, up 51%.
Shrimp export also recorded sharp double digit growth, largely from the Japanese, Korean and Chinese markets, at nearly USD1.9 billion from the start of the year, a 15.5% rise year on year./.