The Vietnam Association of Seafood Exporters and Producers (VASEP) reports a significant surge in Vietnamese shrimp exports for the month of April, with earnings reaching a notable milestone.

Vietnam generated a revenue of USD 285 million from shrimp exports in April, marking the highest level achieved since the start of the year.

Growth Trends in Shrimp Industry

The shrimp industry has shown resilience and growth, with a total revenue of USD 971 million over the first four months of the year, representing a 6% increase compared to the same period last year.

Experts attribute this growth to a reduction in importers’ inventories, which has stimulated demand for Vietnamese shrimp.

Pangasius Exports Rebound in April

Vietnam’s pangasius exports saw a positive turnaround in April, following a decline in the previous months.

Pangasius exports surged by 13% to USD 168 million in April, driven by increased shipments to major markets.

Diversification of Pangasius Products

Vietnamese businesses are focusing on diversifying their pangasius offerings, with a noticeable increase in deeply processed and value-added products alongside frozen fillets.

From January to April, pangasius exports totaled USD 579 million, reflecting a nearly 2% increase compared to the same period last year.

Tuna Exports Experience Significant Growth

April witnessed a substantial rise in tuna exports from Vietnam, climbing by 28% to over USD 86 million. This growth trend contributed to a 22% year-on-year increase in total tuna exports for the first four months, reaching USD 301 million.

Crab Exports Surpass Expectations

Crab exports from Vietnam demonstrated remarkable growth in April, expanding by an impressive 101%, primarily driven by demand from China.

Vietnamese exports of live crabs continue to show promise, with experts identifying significant potential for live lobsters and sea cucumbers in the Chinese market.

Challenges and Expectations

While there are positive indicators across various seafood export sectors, challenges persist in key markets like the EU, United States, and China-Hong Kong, where export figures declined.

VASEP experts attribute these declines to inflation and high inventories in importing countries.

Looking ahead, VASEP anticipates a gradual reduction in inventories and oversupply issues, which should support seafood exporters in the latter half of the year, paving the way for expanded export opportunities.