Seafood exports to the US recover strongly
MEKSEA.COM – Despite being affected by the Covid-19 epidemic, by the end of September 2021, Vietnam’s seafood exports to the US increased by 5.7% over the same period last year. Especially, it reached 1.45 billion USD in September 2021.
Shrimp, pangasius, and tuna are the three main product lines exported to the US, accounting for 53%, 17% and 15.6% of total seafood exports to this market, respectively.
In the first 9 months of the year, shrimp exports to the US increased 22% equivalent to 775 million USD. Currently, the US is the largest shrimp export market from Vietnam, accounting for 28% of total shrimp exports. In which, vannamei shrimp reached 690 million USD, up 20% and black tiger shrimp reached 68 million USD, up 46%.
Pangasius exports to the US reached 248 million USD, up 43%, mainly frozen pangasius fillets/cuts (HS code 0304) reached 243 million USD. Currently, the US is behind China in importing Vietnamese pangasius, accounting for 23% of total export value.
For tuna, the US is also the largest tuna import market from Vietnam, accounting for 43.5% of total exports. In the first 9 months of this year, Vietnamese tuna export to the US reached 226 million USD, up 8% over the same period last year.
Besideslitopenaeus vannamei shrimp, pangasius, and tuna, Vietnam also sharply increased crab exports to the US in the past time, with 34 million USD, up 68%.
Currently, consumption demand in the US market is recovering strongly, but their domestic seafood supply only meets 10% of domestic consumption, because of production interruption during the Covid-19 pandemic. That leads to lack of raw materials, lack of labor, seafood prices in the US increased. Therefore, the demand for imported seafood is very large, especially shrimp and crab products…
In the first 8 months of this year, the US imported more than 2 million tons of seafood, equivalent to over US$18 billion, up 14% in volume and 30% in value, showing a sharp increase in the average import price over the same period last year. In which, shrimp imports increased 24% in volume and 26% in value, reaching 540 thousand tons, equivalent to 4.9 billion USD.
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By Hayati (MekseaTeam)
(Reference: VASEP)
(hayati@mekseaconnection.com)
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