Lobster exports increase by 30 times in first half

VOV.VN - Vietnam raked in an estimated US$130 million from exporting lobsters in the first six months of 2022, seeing a 30 fold increase compared to the same period last year.

According to the Vietnam Association of Seafood Exporters and Producers (VASEP), lobster exports to China reached a record high of over US$108 million in the first five months, or 29 times higher over the same period last year.

Meanwhile, Vietnam’s shrimp exports surged 33% year-on-year to US$2.3 billion in the first half of 2022, accounting for 40% of the country’s total seafood exports.

VASEP said that price inflation and a lack of raw materials are major challenges for local shrimp enterprises in the current period.

Small-sized-white-legged and frozen shrimps were still the most popular products in the period. However, some businesses also decided to increase the proportion of value-added processed shrimps to export to high-end markets such as Japan, the US, and the EU to overcome the scarcity of raw materials.

According to VASEP, exports of processed white-legged shrimps in the first half of this year increased by 17%, while exports of fresh/frozen shrimps rose by 21%. The export turnover of black tiger shrimps still edged up by 20% to more than US$300 million.

Vietnam’s shrimp exports to China from March to May grew by 126%-140%. In the first five months of this year, the country gained an export value of US$275 million, a year-on-year increase of 101%.

VASEP noted that shrimp supply from China decreased in the past three years due to the impact of the COVID-19 pandemic. In addition, China is still implementing a zero-COVID strategy, which has forced many factories to temporarily stop production to fight the pandemic, leading to the shortage of seafood supply for domestic and overseas markets.

China’s increasing demand has created ample room for Vietnam to increase seafood exports to this market, said VASEP.

Related

Shrimp exports reach peak, higher value expected in Q2
Shrimp exports reach peak, higher value expected in Q2

VOV.VN - Vietnamese shrimp exports hit a record high of US$1.4 billion in the opening four months of the year, rising by 45% against the same period from last year, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).

Shrimp exports reach peak, higher value expected in Q2

Shrimp exports reach peak, higher value expected in Q2

VOV.VN - Vietnamese shrimp exports hit a record high of US$1.4 billion in the opening four months of the year, rising by 45% against the same period from last year, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).

Shrimp, pangasius exports enjoy April surge
Shrimp, pangasius exports enjoy April surge

VOV.VN - Pangasius and shrimp represent two key Vietnamese export items that maintained high growth in April, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).

Shrimp, pangasius exports enjoy April surge

Shrimp, pangasius exports enjoy April surge

VOV.VN - Pangasius and shrimp represent two key Vietnamese export items that maintained high growth in April, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).

Shrimp exports grow 44% on effective use of FTAs
Shrimp exports grow 44% on effective use of FTAs

VOV.VN - The first quarter of 2022 saw shrimp exports hit US$955 million, up 44% over the same period last year thanks to high demand from Vietnam’s major markets and effective use of free trade agreements (FTAs).

Shrimp exports grow 44% on effective use of FTAs

Shrimp exports grow 44% on effective use of FTAs

VOV.VN - The first quarter of 2022 saw shrimp exports hit US$955 million, up 44% over the same period last year thanks to high demand from Vietnam’s major markets and effective use of free trade agreements (FTAs).