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Viet Nam's Seafood Exports Increased in Q3 2013

Sustainability Economics Politics +4 more

VIET NAM - Viet Nam seafood exports reached $1.8 billion in Q3 2013, an increase of 12.5 per cent over the same period last year.

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Shrimp exports continuously grew from the second quarter, while pangasius exports slowed in the third quarter, the export of tuna and other marine products continues downward trend from the previous quarters.

Total Viet Nam seafood exports in first three quarters of 2013 reached $4.7 billion, up 4.5 per cent from the same period last year. Thanks to the increase in export prices in the context of shorted supply in the world markets, Vietnam shrimp exports in each month of third quarter grew 45.5 per cent - 65.5 per cent compared with the same period last year.

Whiteleg shrimp (vannamei) holds a increasingly important position, with the proportion rising sharply from 33 per cent of total shrimp export value last year to 46.17 per cent this year, roughly equivalent to that of black tiger shrimp (46.74 per cent) .

While shrimp exports have been increasing and will keep the trend in the coming months , the pangasius tended to decrease from the third quarter ( - 1.4 per cent in July; -7.7 per cent in August) and it’s not likely to have recovery in the coming months due to difficulties in domestic production.

Tuna exports continued negative growths of over 20 per cent in recent months. With the momentum, this year's tuna exports is estimated to reach $540 million, down about five per cent from last year.

With more than 600 companies exported to 165 markets, whether Viet Nam's seafood exports in the fourth quarter will keep the growth rate of the third quarter and maintain an average turnover of $600 million per month is unknown. If it does it will bring the total seafood export value in 2013 to an expected $6.5 billion.

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