Vietnam gains record in seafood export value in 2017
Updated : Thursday, January 04, 2018 2:32 PM (GMT+0700)

Vietnamgained its highest ever seafood export value of 8.32 billion USD in 2017, ayear-on-year increase of 18 percent, according to the Ministry of Agricultureand Rural Development.

Vietnam gains record in seafood export value in 2017 - Photo: VNA

The US, Japan, China and theRepublic of Korea were the top four export markets for Vietnamese seafoodproducts, accounting for 55.3 percent of the total national export value.

Vietnam’s export marketswith strong growth in seafood export value included China (up 64.4 percent),the Netherlands (up 48.6 percent), the UK (up 36.4 percent), the Republic ofKorea (up 29.1 percent), Canada (up 22.3 percent) and Japan (up 20 percent).

The Vietnam Association ofSeafood Exporters and Producers (VASEP) said shrimp exports provided thebiggest contribution to the total national seafood export value, with a growthrate of 21 percent to 3.8 billion USD in export value for 2017.

The strong growth in shrimpexports was mainly due to confidence of export markets for Vietnamese shrimpproducts, said Truong Dinh Hoe, VASEP General Secretary.

Other reasons for stronggrowth in shrimp exports included an increase of 10 percent in export shrimpprice, higher quality of material and high volume of processed products, Hoesaid.

Shrimp export value increasedby 60 percent to China, 42 percent to the US, 33 percent to the Republic ofKorea and 18 percent to Japan.

Meanwhile, the export valueof tra fish (pangasius) reached nearly 1.8 billion USD in 2017, a year-on-yearincrease of 4 percent despite difficulties in many export markets.

Vietnam's tuna export valueachieved a year-on-year increase of 16 percent to 600 million USD while exportvalue of squid and octopus stood at about 600 million USD, gaining stronggrowth of 42 percent.

A surprising point regardingVietnam's seafood exports in 2017 was that China surpassed the US as the topexport market of Vietnam's tra and shrimp products.

China was the leading exportmarket of Vietnamese tra fish with a year-on-year surge of 37 percent in 2017to 420 million USD and the third largest shrimp export market of domesticshrimp products after the EU and Japan. Vietnam gained a year-on-year increaseof 60 percent from the export value of shrimp to China to 677 million USD.

VASEP said that China willcontinue to be an important market for local seafood enterprises in the futurebecause Vietnam's seafood exports to the EU and the US still face anti-dumpingtax and technical barriers.

Seafood exports in 2018 areexpected to reach over 8.5 billion USD, up about 3 percent compared to 2017,though Vietnam's seafood exports to the US and EU markets will continue to beaffected by catfish inspection, anti-dumping and illegal, unreported andunregulated fishing (IUU), according to the VASEP.

To achieve this target,Vietnam must pay attention to antibiotics to ensure quality and competitivenessof Vietnamese seafood material, Hoe said.

The nation should implementtraceability for seafood export products of Vietnam as per demand of marketsimporting Vietnamese products, he said.

Local seafood enterprisesshould also focus on applying technology in processing seafood products forexport to increase added value and competitiveness of Vietnamese products, hesaid.

The export value of agro,forestry and seafood products reached a record 36.37 billion USD thisyear, a year-on-year increase of 13 percent, according to the ministry.

The export of majoragricultural products was estimated at 18.96 billion USD, a year-on-year growthof 15.7 percent while the export value of forestry products in2017 was estimated at 7.97 billion USD, an increase of 9.2 percentyear-on-year.

Total rice exports for theyear reached 5.89 million tonnes, earning 2.66 billion USD, a year-on-yearsurge of 22.4 percent in volume and 23.2 percent in value.

China continued to be thelargest buyer of Vietnamese rice, accounting for 39.5 percent of the totalexports.

Rubber, tea, cashew nuts andother produce also saw high growth in 2017.

In 2017, rubber exportsreached 1.39 million tonnes worth 2.26 billion USD, a year-on-yearincrease of 11 percent and 35.6 percent, respectively, in volume and value.China, Malaysia and India were the three largest rubber buyers.

High prices pushed cashewnut exports to 353,000 tonnes worth 3.52 billion USD, a year-on-year increaseof 1.9 percent in volume and 23.8 percent in value. The US, the Netherlands andChina were top importers.

This year, the export oftea was estimated at 140,000 tonnes worth 229 million USD, up 7.2percent in volume and 5.6 percent in value over last year.

Exports of cassava andcassava products were estimated at 3.95 million tonnes in volume and1.04 billion USD in value for a year-on-year surge of 6.9 percent and 4.2percent, respectively.

However, coffee exportsdecreased slightly by 20.2 percent in volume to 1.42 million tonnes and 3.8percent in value to 3.21 billion USD. Germany and the US were still the top twoexport markets for Vietnamese coffee.

There was a strong reductionin pepper exports in 2017 because export prices fell sharply by 35 percent overthe previous year. While pepper export volumes surged by 20.5 percent to214,000 tonnes, its value fell 21.9 percent to 1.12 billion USD compared to2016.


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