Vietnam’s seafood exports rebound in January 2021
By: Date: 2021-02-18 Categories: Internationalfood Tags: ,
   (People’s Daily) The Agricultural Products Processing and Market Development Agency under the Ministry of Agriculture and Rural Development of Vietnam stated that the total export of Vietnamese aquatic products in January 2021 reached approximately US$600 million, a year-on-year increase of 19.6%.

   The above figures show that, despite the decline in December 2020 and the entire 2020, the export of aquatic products has rebounded. It is predicted that in 2021, aquatic products trade activities will still be severely affected by the condition of new coronary pneumonia.
   However, in view of the competitive advantage of domestic raw material supply and the positive factors in the market, the advantages that Vietnam enjoys from the free trade agreement continue to be the lever for the recovery of Vietnam’s aquatic products. It is predicted that aquatic products will earn more than US$9.4 billion in foreign exchange, an increase of 10%compared to 2020.
  Due to the difficulties caused by the new coronary pneumonia in many water and sea producing countries, the global demand for seafood is still increasing. Therefore, Vietnam’s exports of seafood and shrimp continue to sell well. Experts predict that shrimp prices on the world market will tend to rise in the first half of 2021.
   In 2020, Vietnam’s total export volume of aquatic products will exceed 2 million tons, earning 8.38 billion U.S. dollars of foreign exchange, and the export volume and export value will fall by 4.04%and 1.8%year-on-year respectively. Among the four major export markets of the United States, Japan, the European Union and China, the US market has shown a good growth momentum, reaching 1.6 billion US dollars. These four major import markets accounted for 59.5%of Vietnam’s total seafood exports in 2020. The market with the strongest growth in exports of aquatic products was Russia, which surged 31.9%. On the contrary, the largest decline in the export value of aquatic products was Thailand, which plunged 15.6%. Shrimp is the product with the highest export growth rate in 2020, reaching US$3.7 billion, an increase of 11%compared to the same period in 2019. (End)