SEAFOOD EXPORT TURNOVER INCREASED STRONGLY IN THE LAST MONTHS OF THE YEAR

Many large seafood exporters in Vietnam increased in export turnover in the first months of 2018. However, to achieve the plan, the fisheries enterprises should overcome the technical barriers, break the target.

Delayed orders because the price of raw materials increase

According to the Vietnam Association of Seafood Exporters and Producers, by the end of September 2018, seafood exports reached USD 6.35 billion. It up 5.3% over the same period in 2017. In which, the export price to two the largest market (the US and the EU) has exceeded $ 1.1 billion. Shrimp, Pangasius, and fish of all kinds reached 2.62 billion USD; $ 1.59 billion and $ 1.03 billion.

Pangasius export turnover increased most strongly. By the end of September, the pangasius export value was USD 1.59 billion, increasing 22.6%. In the first three quarters of this year, Pangasius was the group of seafood products with the highest growth rate.

According to businesses, the export of Pangasius in the first nine months of 2018 increased over the same period last year because the export value in many big import markets such as China, Hong Kong, USA, EU, ASEAN was increasing. Accompanying that is the price of raw materials increased sharply compared to last year. This led to an increase in export prices and an increase in export value. However, the company export pangasius Vietnam is also facing the difficult problem of lack of raw fish in the country. In October 2018,  some farming areas in the Mekong Delta raw material prices have risen to a record 35,000 – 36,500 VND / kg, higher than the same period from 10,000 to 12,500 VND / kg.

The price of Pangasius material increased due to the limited quantity of fish sold in the market. Many enterprises processing pangasius export are pushing up purchasing to meet the orders and prepare the source of goods to serve the increasing market demand at the end of the year and the beginning of the new year 2019. However, some enterprises have been postponed some orders because prices have risen sharply and there is no material for buying.

Overcoming technical barriers

According to information from enterprises, many seafood enterprises have increased export volume in the past nine months. For example, Vinh Hoan Seafood Company had seafood export turnover reached over 240 million USD, increased over 45 million USD (up over 22%). Seafood export turnover of Bien Dong Seafood Company increased 60 million USD (66% increase) over the same period …

SEAFOOD EXPORT TURNOVER INCREASED STRONGLY IN THE LAST MONTHS OF THE YEAR

These companies are breaking through technical barriers to boost exports in the last months of the year. Because, in fact, some key export items decreased. According to the export data of enterprises, in the first 9 months of 2018, tuna exports to the US market decreased. But the export value to other markets such as EU (including Spain and the Netherlands) increased. In addition, the value export to Israel, ASEAN, and Japan also growth positively. As a result, during this period, tuna exports remained at good growth compared to the same period last year.

Shrimp is one of two key export items. However, by the end of September, the export value of shrimp reached $ 2.62 billion, down 4.1% over the same period last year. The value of shrimps dropped was due to the slowdown in world shrimp prices, while shrimp production in many countries was still large. Some countries also provide low price, so that it affects the shrimp export of Vietnam. Moreover, the export value of shrimp to some big markets decreased. Such as the US decreased 3.1%, Japan decreased by 11.7% and China, Hong Kong decreased by 28.7%. This also affected total shrimp exports in the first three quarters of this year.

According to the analysis of the Association of Seafood Exporters and Producers, the seafood export is expected to increase in the last months of the year with the total export value of the whole year. But the export activities of seafood companies are facing many difficulties due to increasingly difficult trade and technical barriers.

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