Vietnam seafood export

Vietnam’s seafood exports were estimated at nearly US$5.8 billion in the first half of 2022, up 40 percent compared to the same period last year, the Vietnam Association of Seafood Exporters and Producers (VASEP) reported. Although the growth has shown signs of slowing down, seafood exports in June still brought in over $1 billion, similar to May and up 23 percent year on year. In the second quarter of 2022, the industry's sales exceeded $3.2 billion, a nearly 36 percent increase compared to the $2.4 billion recorded in the same period of 2021. Shrimp exports in the first six months topped $2.3 billion, up 33 percent year on year and accounting for 40 percent of the country’s seafood shipments. Inflation and lack of raw materials are posing challenges for local shrimp businesses, thus many firms have decided to increase the proportion of value-added shrimp and sell them to demanding markets such as Japan, the U.S., and the EU. With regard to pangasius, the country's exports … [Read more...] about Vietnam’s seafood exports near $5.8bn in January-June

High prices High prices are making Vietnamese seafood products uncompetitive in the 15 member states of the Regional Comprehensive Economic Partnership Agreement (RCEP), which came into effect this year. Tran Le Dung, First Secretary in charge of the Vietnam Trade Office in Malaysia, said that in Malaysia, Vietnamese seafood products are sold at prices higher than those of Chinese and Thai products of the same kind. The Vietnam Trade Office connected Vietnamese sellers of dried fish and tuna with Malaysian importers of these products but transactions between them failed due to price disagreement, Dung said. The trade office representative said that although it has a small population, Malaysia has a high demand for seafood, and is not only a member of the RCEP but also participates in many free trade agreements (FTAs). These factors mean that successful penetration of this market will enable Vietnamese seafood businesses to access many other markets in the bloc. Price has become … [Read more...] about High price hampers Vietnam’s seafood exports to Asia-Pacific markets

Ngoc Thao from HCMC, 32, said that one kilogram of bacon now costs between VND150,000-180,000 ($6.43-7.72), depending on whether it is purchased at a traditional wet market or a supermarket. Cheaper cuts of pork, such as cutlet and thigh, range from VND100,000-130,000 per kilogram, which is twice or thrice the price of chicken. "The prices of vegetables, spices and many other things have skyrocketed, but my salary remains unchanged, so I must cut back on my spending on expensive stuff," she said, sighing. "Now our family has meat only for one or two meals per week." A VnExpress survey of livestock farms at the end of June found that the price of live pigs had crossed VND60,000 per kg, a slight increase from previous days. The majority of farmers said the price has increased because the cost of animal feed has increased. Prices of new born pigs have also increased by 20 percent compared to two months ago. According to the Organization for Economic Cooperation and … [Read more...] about As prices rise, Vietnamese fork out less for pork