Seven-month crab exports record impressive growth

VOV.VN - As of July 15 Vietnam earned US$111 million from crab exports, marking an annual increase of 41%, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).

The main markets for the products include China, the United States, Japan, and France, accounting for over 92% of the total export value.

The US, which was the largest buyer of local crabs, purchased more than US$38 million, an increase of 27% from the same period last year.

The US market has fully reopened, fuelling demand for crabs, including from Vietnam. However, the ongoing impact of the Russia-Ukraine conflict has caused food prices to inch up by 40% compared to the beginning of the year, and people have started to reduce their spending, especially on high-value products such as crabs.

VADEP statistics show crab exports to the US continued to grow well in the second quarter of the year, although the growth rate slowed.

Meanwhile, crab exports to China - the second largest market - grew by 76% to reach US$37 million.

Vietnamese crab exports to Japan also continued to grow throughout this period, with the value of crab exports to this market hitting over US$24 million, up 51%. 

Japan currently makes up the largest importer of Vietnamese crabs in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and maintained consistent growth in terms of crab imports from Vietnam during the first seven months of the year.

For the EU market, Vietnamese crab exports also recovered after witnessing a decline last year. France is currently the largest crab import market in the bloc, spending over US$3 million on Vietnamese imports, up 60%.