1.Freight rate

Nearly 2 year, world suffered served impacts from COVID-19 outbreak. Especially, the global transportation industry, due to the outbreak of COVID-19, has caused major crises. They are the reason why the freight is fluctuating very strongly, it increases day by day and hour by hour.

You can refer to the latest news at https://www.mekseaconnection.com/logistics-facing-severe-shipping-crisis-throughout-the-year-2021-frozen-containers-are-putting-back-behind/

2. Vietnam’s seafood export situation

 2.1 Pangasius and some seafood products

At end of year, small and medium pangasius farm in Vietnam will stop supplying raw material and preparing for new season, so it is negative sign for pangasius resource in Vietnam.

According to the Import-Export Department, Ministry of Industry and Trade, Vietnam’s seafood export is estimated at more than 3.2 billion USD in the first 5 months of this year, up more than 13% in volume and over 12% in value over the same period last year.

Thanks to taking advantage of opportunities and overcoming difficulties caused by the impact of the COVID-19 epidemic, Vietnam’s seafood enterprises are receiving many export orders in many markets.

The US has become the main export market for Vietnamese seafood, with the demand to import many items such as pangasius, tuna… From the beginning of the year to now, about 220 Vietnamese enterprises have exported seafood. products to the US, of which nearly one-third of enterprises have export turnover of 1 million USD or more.

After the US, the major markets consuming Vietnamese seafood are Japan, EU, China, and Korea, respectively. In addition to trying not to disrupt the supply chain, the seafood industry also focuses on deep processing, taking the form of sales, keeping traditional markets, and actively seeking new markets.

According to forecast, Vietnam seafood exports in the second quarter will continue to grow by 10%, reaching about 2.1 billion USD. Besides the main markets, other markets such as Australia, Canada, the UK and Russia are expected to be a new bright spot in the picture of seafood exports in the second quarter and second half of the year because demand is increasing and there are no barriers market.

2.2 Shrimp

Season of Vannamei shrimp will end at August, it means its resource will be limited in next month, so if your main product is this shrimp, I think you need to set up back-up purchasing plan for this product before it resource become short and price is higher.

Despite the impact of the Covid-19 epidemic, with the initiative from the beginning of the year, together with the efforts of related parties, associations, business community … Vietnam’s seafood export has created a breakthrough. In particular, shrimp products have achieved impressive export growth.

In the first 5 months of 2021, Vietnam’s seafood products are exported to over 120 markets; in which the US, Japan, EU, China, Korea, ASEAN, Australia… are the seafood export markets with the largest value.

It is forecasted that in the coming time, the US will continue to be a market with good growth for Vietnam’s shrimp products. Vietnamese enterprises also expect to increase shrimp exports to the EU, mainly vannamei shrimp. For the Korean market, there are also good signs of recovery, positive economic growth, so seafood trade with Korean enterprises will be more exciting in the coming time.

Other markets such as Australia, Canada, UK, Russia … will continue to be new potential markets, because demand increases and there are no uncertainties or market barriers…

By Jessy (Business Team).