THE EU IS THE LARGEST MARKET FOR VIETNAM’S TILAPIA

In 2023, the EU continued to be the largest consumer market of tilapia from Vietnam with two million USD, down 34% compared to 2022.

According to the Vietnam Association of Seafood Exporters and Producers, Vietnam’s tilapia exports in 2023 reached more than six million USD, down 42% compared to 2022.

In 2023, the EU continued to be the largest consumer market of tilapia from Vietnam with two million USD, down 34% compared to 2022. In the fourth quarter of 2023, the highest value of this market was recorded when it grew positively for three consecutive months, after a consecutive decline in the first nine months of the year.

The EU is the largest market for Vietnam’s tilapia.

In particular, the Netherlands contributed nearly half of Vietnam’s total tilapia exports to the EU market. In 2023, the cumulative export of catfish to the Netherlands reached more than one million USD, an increase of 10% compared to 2022.

Next, the US consumed nearly one million USD in 2023, down 71% compared to 2022. This market was unstable in 2023. In the last month of 2023, the US suddenly increased imports of tilapia. Tilapia export turnover to the US in December 2023 reached more than 200,000 USD, up 78% over the same period while this country almost did not import in November.

Frozen tilapia is preferred by consumers in the US market. In the first 11 months of 2023, the US imported 84,822 tons of frozen tilapia fillets, up 13% over the same period last year.

China is the largest supplier of tilapia in the world and also to the US. Vietnam’s tilapia in the US is difficult to compete with China’s tilapia because of the high average price despite the downward trend.

In addition, Vietnam’s tilapia exports to other markets also recorded negative growth such as Japan decreased by 62%, Belgium decreased by 56%, Italy decreased by 38%, and the UK decreased by 85%.

Tilapia is fast-growing with increased production. Now, tilapia products originating from China and Taiwan are dominating the global market. Although Vietnam’s tilapia export turnover is quite small, there has been a positive growth trend in the past few years./.