Seafood export increased sharply in the first half of 2017

According to the Vietnam Association of Seafood Exporters and Producers (VASEP), the total seafood export turnover in the first half of this year is estimated at US$3.6 billion, up 14.6% over the same period last year thanks to the promotion of all major items.

Shrimp products continued to maintain steady growth and led the export value, at about US$1.5 billion. The ban on imports of raw shrimp products from the Australian Department of Agriculture and Water Resources officially expires in early July and the reduction of supply in some major producing countries will open up opportunities for exporters to boost the turnover in the year-end period.

In terms of catfish, the export value in the first 6 months was US$813 million, up nearly 3% over the same period. The export situation of this commodity is forecasted to be more difficult to recover in the upcoming time due to the limited raw materials, and the strict control of US market.

However, the value of exports of tuna, octopus and other seafood increased sharply to offset the deficit and create a significant shift in product and market structure. In which, octopus recorded the strongest growth of 54%, at US$327 million thanks to the sharp rise in demand from Europe.

Despite nearly 5% less than the same period last year, the US is still the largest seafood import market of Vietnam with the turnover of nearly US$615 million. In return, other main export markets such as Japan, EU, China, South Korea recorded a steady growth of 5-32%.

VASEP forecasts the growth in the first half of the year will continue to have a positive impact on seafood exports in the coming months.