In the picture of Vietnam’s seafood exports in the first 05 months this year, dried and canned fish recorded a higher export turnover than in the same period last year.
According to estimates of the General Statistics Office, Vietnam’s seafood exports in May 2023 reached 800 million USD, down 23.9% compared to May 2022. In the first 05 months of 2023, Vietnam’s seafood exports are estimated at 3.37 billion USD, down 28.1% over the same period in 2022.
Exports of dried and canned fish grow strongly.
According to the General Department of Customs, in April 2023, Vietnam’s seafood exports reached 169.5 thousand tons, worth 743.06 million USD, down 25.6% in volume and 33.7% in value compared to April 2022. In the first 04 months of 2023, Vietnam’s seafood exports reached 613,018 thousand tons, worth 2.57 billion USD, down 19.1% in volume and 29.3% in value over the same period in 2022.
In April and the first 04 months of 2023, exports of all seafood products decreased compared to the same period in 2022. Shrimp of all kinds remains the item with the highest turnover in April 2023. However, it only reached 31,000 tons, worth 284.1 million USD, down 28% in volume and 34.9% in value over the same period in 2022. In the first 04 months of this year, Vietnam’s shrimp exports reached 98.5 thousand tons, worth 876.2 million USD, down 28.8% in volume and 36.6% in value compared to the same period in 2022.
Shrimp exports to most major markets decreased over the same period in 2022, except for Hong Kong, Papua New Guinea, and Qatar. In particular, Japan is the largest shrimp export market of Vietnam, accounting for 15.8% of the total shrimp export volume of the country; the US is the second-largest market with a proportion of 15%; the EU accounts for 14.27%, and China accounts for 15.12%.
In April 2023, Vietnam’s catfish exports decreased sharply over the same period in 2022, reaching 60.9 thousand tons, worth 148.72 million USD. This figure is down 41.9% in volume and 52% in value compared to April 2022. Vietnam’s catfish exports to most markets decreased, except for Brazil, Saudi Arabia, and Egypt. In the first 04 months of 2023, Vietnam’s catfish exports reached 237.5 thousand tons, worth 570.1 million USD, down 29.5% in volume and 40.8% in value over the same period in 2022.
While the export of most types of seafood decreased, the export of Vietnam’s dried and canned fish in April and the first 04 months of 2023 grew positively.
According to the Vietnam Association of Seafood Exporters and Producers (VASEP), many seafood enterprises have reported declining business results and profits since the beginning of the year, but there are items with pretty good growth such as dried and canned fish.
Data from VASEP shows that, in April 2023, the export turnover of dried fish of all kinds reached nearly 26 million USD, up 65% over the same period in 2022. Accumulated in the first 04 months of this year, this item helps Vietnam earn nearly 78 million USD, up 33% over the same period last year. The two most popular types of Vietnamese dried fish are anchovy and yellow stripe scad, accounting for 66% and 14% of total exports, respectively.
Dried and canned fish are “on the throne”.
China is the largest consumer market of Vietnam’s dried fish, accounting for 56% of export turnover, followed by Russia 17%, Malaysia 8%, Hong Kong 4%, and Korea 3%. Except for the decline in the Malaysian market, all four markets recorded high growth rates in the consumption of dried fish. In particular, growth in the Chinese market reached 72% and in Hong Kong 59%.
In addition, many other markets also increased the imports of Vietnam’s dried fish in the first 04 months of this year, such as Taiwan increased by 45%, Romania by 90%, Australia by 10%, and Lithuania by 61%.
CHANGE IN CONSUMPTION TREND
The export situation of Vietnam’s dried fish has shown that, in the inflationary environment, when prices dominate buying and selling behaviors, consumers have changed their habits. Fresh and raw products are gradually being replaced by dried and canned ones.
Explaining why dried and canned fish are “on the throne”, Mr. Truong Dinh Hoe, General Secretary of VASEP, said that consumption trends have been changed by inflation, causing consumers to change their habits, and prices dominate consumption.
“For example, consumers are less likely to choose fresh fish because of the high price. They choose to buy sliced fish, seasoned, processed, or packaged with spices and processing instructions because the price is low and reasonable. That means in the context of economic inflation, fresh fish is gradually replaced by dried and canned products. Therefore, Vietnamese enterprises have to adjust their selling prices and add more services to their products to take advantage of the current opportunities, ” Mr. Hoe explained.
Accordingly, VASEP also recommended seafood exporters that, in addition to pressure to adjust prices to be attractive, it is necessary to pay attention to increasing services for products to stimulate demand./.