Fishery export grows 6.5% in five months

Vietnam shipped an estimated 3.6 billion USD worth of fishery products abroad during January-May, a year-on-year increase of 6.5%, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).

During the span, the export of tuna rose 25% against the same time last year to nearly 397 million USD.

Nguyen Ha, a tuna market specialist, said as inflation-weary consumers tightened their purse strings, demand for cheaper products like canned tuna was high during the period, adding the US, the EU, and Israel were the biggest importers.

Shipment of the products to other Middle Eastern countries like Lebanon and Greece was also saw a strong surge, she added.

Crab export skyrocketed 84% year-on-year to 101 million USD during the period, with China and Japan being the largest buyers.

The export of tra fish garnered nearly 755 million USD, slightly rising 3% while that of shrimp was 1.3 billion USD, up 7%.

According to VASEP Communications Director Le Hang, Vietnam’s export markets have showed signs of recovery, both in demand and prices, with fishery shipment to the US, Japan, the EU, and the Republic of Korea (RoK) posting positive growth from 5% to 26% in May.

As of the end of May, export to the US increased 13% to 635 million USD while that to Japan, the RoK, and the EU witnessed modest expansion of 3-4%, she added.

In the meantime, shipment to China in May fell 8% year-on-year as consumers tightened their purse strings on a stagnant economy, she said, highlighting Vietnamese tra fish has gained foothold in this market as importers shifted to cheaper goods.