According to the Ministry of Agriculture and Rural Development, the value of seafood export in April 2022 is estimated at 1.05 billion USD, bringing the value of seafood export in the first four months of 2022 to 3.57 billion USD, up 43.7% compared to the same period in 2021.

The US, Japan, and China are Vietnam’s top three seafood import markets in the first quarter of 2022, accounting for 49.5% of the total value of seafood export.

The value of seafood export increased in all markets. Among them, China is the market with the strongest increase in value, which is about twice as much.

The main seafood products such as Tra fish and shrimp have quite impressive growth thanks to the high demand and good export prices.

Tra fish export in April 2022 was estimated at 263 million USD, bringing the value of export in the first four months to 894 million USD, up 89.4% compared to the same period in 2021.

For shrimp, the export value in April 2022 was estimated at 385 million USD. Generally, in the first four months of the year, the export value of shrimp reached 1.339 billion USD, an increase of 38.6% compared to the same period last year.

According to the Vietnam Association of Seafood Exporters and Producers (VASEP), after two years of standstill due to COVID-19, the demand in the markets has recovered and developed strongly, but the supply in the markets is not enough to meet the consumption. Therefore, price inflation increased.

The Russia-Ukraine conflict makes the global seafood supply more unstable, especially white meat fish. Vietnamese seafood enterprises have caught the opportunity to increase exports and sign contracts at much higher prices than in 2021.

The increased demand for seafood export still attracts many Vietnamese enterprises despite challenges. (Photo: Internet)

In the US market, exports of shrimp, Tra fish, and other main items all recorded high growth compared to 2021, especially Tra fish.

The US production of catfish declined, and high inflation and anti-dumping duties in the POR17 period benefited many Tra fish businesses.

The number of Tra fish enterprises allowed to export to the US increased, and the average export price to the US reached a new peak.

Those factors have helped Tra fish export to the US increase by a breakthrough in the first four months of the year, with a three-figure growth rate of 128%.

Regarding the Chinese market, the COVID-19 outbreak was strong and the country’s “Zero COVID” policy made seafood export to this market face many difficulties when many ports were closed and COVID-19 check on frozen goods was increasingly strict.

The increased demand for seafood export still attracts many Vietnamese enterprises despite the above challenges.

As a result, seafood export to China by the end of April 2022 was estimated at 578 million USD, up 94% year-on-year. Tra fish alone accounts for 53% of seafood exported to this market.

Regarding the domestic market, the price of raw Tra fish in the Mekong Delta provinces in the past month has kept stable after continuously increasing since mid-February, offered in the range of 30,000-32,000 VND/kg for sizes 0.8-1 kg.

Companies focus on sizes 0.8-1 kg while transactions of size 1.2 kg or more are little due to limited access to the Chinese market under the COVID-19 pandemic.

The price of Tra fish tends to decrease after a strong increase, ranging between VND 38,000-40,000/kg, a decrease of VND 15,000/kg compared to the previous month.

Prawn prices in some Mekong provinces in April were stable compared to the previous month while the price of white leg shrimp declined slightly due to the decrease in demand from factories.

In Bac Lieu, the average price of large ice-cured prawns in the month is 240,000 VND/kg, 190,000 VND/kg, and 160,000 VND/kg, respectively.

The price of ice-cured shrimp size 40, 60 and 70 pieces/kg is kept at 125,000 VND/kg, 105,000 VND/kg and 100,000 VND/kg, reduced by 5,000 VND/kg compared to the previous month, size 100 pieces/kg is 90,000 VND/kg, reduced by 2,000 VND/kg.

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