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Seafood News

REPORT ON VIETNAM SEAFOOD EXPORTS IN QII/2016
(seafood.vasep.com.vn)
Drought and salinity in the first half of 2016 affected supply of raw materials for processing and exporting. However, with efforts of enterprise community and recovery in importing demand from some markets, Vietnam’s seafood export turnover in QII/2016 remained the growth of 2.1% after the advance of 6.4% in QI.

With export result of US$1.45 billion in QI and US$1.69 billion in QII, Vietnam’s total seafood exports in the first 6 months of 2016 hit US$3.15 billion, up 4% year on year.

After the growth of 8% in QI/2016, shrimp exports in QII/2016 only rose 2.3% due to shortage of domestic raw materials.

Sales of pangasius and tuna witnessed the respective surge of 8% and 4.8% in QII/2016 after the rise of 2.4% of pangasius and the slump of 5.5% of tuna in QI/2016.

In QII/2016, except for the decline of 12.4% in cephalopod exports (QI/2016: -4.8%), exports of other marine products tend to report year-on-year growth.

Demand from the US remained stable, so exports to the market reported positive growth of 11%. The growth of 43% was seen in exports to China. Exports to some major markets like EU, ASEAN, Australia recovered. The recovery helped to compensate for the slight reduction of 3% in exports to Japan and 1% in exports to South Korea and contributed into the positive growth of Vietnam seafood revenue in the first half of the year. Seafood demand from markets is expected to remain stable or better in the second half of the year.

17/08/2016