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Shrimp processing. (Photo Credit: VASEP)

Seafood exports forecast to reach USD 1.7 billion in Q4

Click on the flag for more information about Viet Nam VIET NAM
Tuesday, November 19, 2013, 02:30 (GMT + 9)

After recording an increase of 12.5 per cent in the third quarter of this year, Vietnam’s seafood exports are expected to increase by 6.5 per cent in the fourth quarter compared to the same period of 2012, to USD 1.7 billion, mainly thanks to shrimp exports.

Meanwhile, pangasius exports are expected to hardly recover while exports of tuna and other marine products may be lower, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).

Total seafood exports are forecast to reach USD 6.5 billion this year, up 5 per cent year-on-year.

Shrimp exports accounted for 43 per cent of Vietnam’s total seafood in the first nine months of 2013, a figure 7 per cent higher than that of the same time of 2012 and much higher than the proportion of pangasius exports.

Remarkably, shrimp sales in the third quarter witnessed a surprising advance: exports in July rose by 45 per cent, in August by 65.5 per cent and in September by 61 per cent.

VASEP attributes this increase to a fall in raw shrimp exports from the world's main suppliers, particularly Thailand because of the negative impact of diseases. Besides, shrimp prices in the main importing markets were USD 2-4 per kilogram higher than in 2012.

The growth in shrimp exports was largely due to sharp increase in whiteleg shrimp exports.

Until September 2013, whiteleg shrimp exports hit nearly USD 980 million, rising 85 per cent year-on-year and representing 47.4 per cent in the total shrimp export value. Black tiger shrimp sales accounted for USD 943 million, an increase of 4.8 per cent and constituted 45.7 per cent of all shrimp shipments abroad.

Shrimp exports to the US scored the highest gain among importers of Vietnamese shrimp. Sales to this market surged 63 per cent through the year 2013 to September.

Shrimp exports to the US in the first three quarters of this year made up 26.3 per cent out of Vietnam’s total shrimp exports, compared to 20.5 per cent in the same time last year.

Meanwhile, pangasius exports have fallen slightly. VASEP expects exports of this fish to be lower in 2013 than those of last year because of stagnant demand from the main markets (especially the EU) and instability of prices and raw fish supply for processing.

Pangasius exports in the third quarter registered USD 424 million, down 3.2 per cent year-on-year and the figure in the past 9 months hit nearly USD 1.3 billion, down 1.4 per cent year-on-year.

The proportion of pangasius out of the country’s total seafood sales slashed to 26.5 per cent from 28.6 per cent.

Pangasius exports to the US have been increasing while fish exports to EU have been declining due to sluggish demand caused by regional economic downturn. In the period from January to September 2013, pangasius exports to the US yielded nearly USD 300 million, up 2.2 per cent, while exports of to EU fell by 11.25 per cent to USD 285 million.

Tuna exports in the third quarter netted USD 121 million, down 18.3 per cent year-on-year; and totalled USD 415 million in the first nine months of 2013, down 4.5 per cent.

Although cephalopod exports showed signs of recovery in the third quarter of 2013, exports in the first nine months fell by 17.2 per cent to USD 309.5 million.


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