According to data from the Vietnam Association of Seafood Exporters and Producers (VASEP), in the first two months of 2024, Vietnam's seafood exports reached USD 529 million, an increase of 9% over the same period.

In particular, tuna exports in February decreased, but thanks to good growth in January, accumulated over the first two months of 2024, tuna exports still increased by 21%, reaching USD 131 million.

For the squid and octopus group, exports decreased by 1%, reaching only USD 88 million in 2 months. Notably, other mollusks recorded an increase of 147%, to USD 1.5 million.

Citing data from the General Department of Customs, VASEP said that Vietnam's shrimp exports in the first 2 months of 2024 reached USD 415 million, an increase of 24% over the same period last year. In particular, shrimp exports to China and the US markets recorded growth of 143% and 26% respectively over the same period.

In February 2024, Vietnam's shrimp exports to China and Hong Kong markets increased by 76%, reaching USD 39 million. This is the only market among the main shrimp import markets that recorded positive growth in February this year. Accumulated over the first 2 months of the year, shrimp exports to China and Hong Kong markets recorded a 3-digit growth of 143%, reaching more than USD 81 million.

Vietnam's shrimp exports to the US in February this year reached USD 31 million, decreased by 9% compared to February 2024. Accumulated over the first 2 months of the year, shrimp exports to this market reached USD 72 million, an increase of 26% over the same period last year. The average price of Vietnam's shrimp exports to the US, after hitting bottom in November 2023, has tended to increase in the first months of this year.

Compared to some of the main shrimp suppliers in the US, which are India, Ecuador, and China, Vietnam is considered more promising, especially when diplomatic relations between Vietnam and the US are good, opening up many opportunities for Vietnam's goods to the US. The US is also having a policy of increasing purchases from other countries, reducing too much dependence on Chinese goods.

Pangasius exports to the US market in February 2024 reached USD 16 million, decreased by 8% compared to February 2023. Accumulated pangasius exports to this market in the first 2 months of this year reached USD 34 million, an increase of 25% over the same period last year mainly thanks to the turnover of the previous month nearly doubling.

Kylie Nguyen