(Q2) Report On Vietnam Seafood Exports in Q.2-2023

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CONTENTS
PREFACE ................................................................................... 9 2. Markets ................................................................ 53
CHAPTER I. OVERVIEW ON VIETNAM SEAFOOD 3. Top Vietnam pangasius exporters ................. 67
PRODUCTION AND EXPORTS ...................................... 10 CHAPTER IV. TUNA EXPORTS....................................... 68
I. OVERVIEW .................................................................. 11 I. EXPORTS ...................................................................... 69
II. FISHERY PRODUCTION ....................................... 13 1. Products .............................................................. 69
III. EXPORTS......................................................................14 2. Markets ................................................................ 70
1. Main export products ..................................... 14 3. Top tuna exporters .......................................... 80
2. Export Markets .................................................. 20 II. IMPORTS .................................................................... 81
3. Top seafood exporters .................................... 23 CHAPTER V. EXPORTS OF CEPHALOPOD AND
IV. IMPORTS .................................................................... 25 OTHER MARINE PRODUCTS ......................................... 82
CHAPTER II: SHRIMP PRODUCTION AND EXPORTS I. CEPHALOPOD ................................................................. 83
.................................................................................................... 27 1. Products .............................................................. 83
I. OVERVIEW ................................................................... 28 2. Markets ................................................................ 83
II. PRODUCTION .......................................................... 29 3. Imports ................................................................ 94
III. EXPORTS .................................................................... 31 II. MOLLUSK SHELLS ....................................................... 94
1. Products .............................................................. 31 1. Products .............................................................. 94
2. Markets ................................................................ 33 2. Markets ................................................................ 95
3. Top Vietnam shrimp exporters .................... 48 III. CRABS ............................................................................. 96
IV. IMPORTS .................................................................... 48 1. Export overview ............................................... 96
CHAPTER III. PANGASIUS PRODUCTION AND 2. Markets ................................................................ 97
EXPORTS ............................................................................... 50 IV. FISH CAKE AND SURIMI ........................................... 99
I. PRODUCTION ............................................................... 51 1. Export overview ............................................... 99
1. Output .................................................................. 51 2. Markets ................................................................ 99
2. Price of raw pangasius ................................... 51 CHAPTER VI. OPPORTUNITIES - CHALLENGES -
II. EXPORTS ....................................................................... 52 FORECAST ......................................................................... 101
1. Products .............................................................. 53 I. OPPORTUNITIES - CHALLENGE ......................... 102
II. FORECAST ................................................................. 104
LIST OF TABLES
.................................................................................................................................................................................................
Table 1. Vietnam’s seafood exports by main products, QI-QII/2023 (US$ million) 11
.................................................................................................................................................................................................
Table 2. Vietnam’s seafood exports by main products, QI-QII/2023 (US$ mil.) 11
.................................................................................................................................................................................................
Table 3. Top 20 seafood species for exports in QI/2021 - 2022 (US$ mil.) 14
.................................................................................................................................................................................................
Table 4. Vietnam’s shrimp exports by markets (US$ mil.) 15
.................................................................................................................................................................................................
Table 5. Pangasius exports by products, Jan- Jun/2023 (US$ mil.) 16
.................................................................................................................................................................................................
Table 6. Vietnam’s pangasius exports by market, Jan-Jun 2023 (US$ mil.) 16
.................................................................................................................................................................................................
Table 7. Vietnam's tuna products for exports from Jan- Jun 2023 (US$ mil.) 17
.................................................................................................................................................................................................
Table 8. Vietnam’s tuna export by market, Jan- Jun 2023 (US$ mil.) 17
.................................................................................................................................................................................................
Table 9. Vietnam’s mollusk exports, Jan-Jun, 2023 (US$ mil.) 18
.................................................................................................................................................................................................
Table 10. Major export markets of Vietnam cephalopods, (US$ mil.) 19
.................................................................................................................................................................................................
Table 11. Crabs and other crustaceans exports, Jan- Jun/2023 (US$ mil.) 19
.................................................................................................................................................................................................
Table 12. Exports of crabs and other crustaceans, by markets (US$ mil.) 20
.................................................................................................................................................................................................
Table 13. Top 5 Vietnamese seafood exporters, Jan- Jun/2023 23
.................................................................................................................................................................................................
Table 14. Top 100 Vietnamese seafood exporters, Jan-Jun/2023 24
.................................................................................................................................................................................................
Table 15. Vietnam’s seafood imports, QI-QII/2023, by main products (US$ mil.) 25
.................................................................................................................................................................................................
Table 16. Vietnam’s seafood imports, by suppliers, QI-QII 2023 (US$ mil.) 26
Table 17. Vietnam shrimp products for exports, Jan - Jun 2023 (US$ mil.)
................................................................................................................................................................................................. 32
Table 18. Shrimp products for exports, by species
................................................................................................................................................................................................. 32
Table 19. Vietnam shrimp exports to markets, QII/2023 (US$ mil.)
................................................................................................................................................................................................. 33
Table 20. Vietnam shrimp exports to markets, QI-QII/2023 (US$ mil.)
................................................................................................................................................................................................. 33
Table 21. Top 10 import markets for Vietnam black tiger shrimp, Jan - Jun 2023
................................................................................................................................................................................................. 34
Table 22. Top 10 import markets for Vietnam whiteleg shrimp, Jan - Jun 2023
................................................................................................................................................................................................. 34
Table 23. Vietnam shrimp products exported to the US, Jan - Jun 2023 (US$ mil.)
................................................................................................................................................................................................. 35
Table 24. Top 10 shrimp exporters of Vietnam to US, Jan - Jun 2023
................................................................................................................................................................................................. 36
Table 25. Top 10 shrimp suppliers to the US, Jan - May 2023
................................................................................................................................................................................................. 37
Table 26. Top 10 shrimp products imported into the US, by HS code, Jan - May 2023
................................................................................................................................................................................................. 37
Table 27. Vietnam shrimp products exported to the EU, Jan - Jun 2023 (US$ mil.)
................................................................................................................................................................................................. 39
Table 28. Top 10 Vietnam shrimp exporters to Germany, Jan - Jun 2023
................................................................................................................................................................................................. 39
Table 29. Shrimp imports into some main markets in EU
................................................................................................................................................................................................. 40
Table 30. Vietnam shrimp products exported to Japan, Jan - Jun 2023 (US$ mil.)
................................................................................................................................................................................................. 41
Table 31. Top 10 Vietnam shrimp exporters to Japan, Jan - Jun 2023
................................................................................................................................................................................................. 41
Table 32. Top shrimp suppliers to Japan, Jan - Apr 2023
................................................................................................................................................................................................. 42
Table 33. Shrimp products imported into Japan, Jan - Apr 2023
................................................................................................................................................................................................. 42
Table 34. Vietnam shrimp products exported to South Korea, Jan - Jun 2023 (US$ mil.)
................................................................................................................................................................................................. 43
Table 35. Top 10 Vietnam shrimp exporters to South Korea, Jan - Jun 2023
................................................................................................................................................................................................. 44
Table 36. Top shrimp suppliers to South Korea, Jan - May 2023
................................................................................................................................................................................................. 45
Table 37. Shrimp products imported into South Korea, Jan - May 2023
................................................................................................................................................................................................. 45
Table 38. Vietnam shrimp products exported to China & HK, Jan - Jun 2023 (US$ mil.)
................................................................................................................................................................................................. 46
Table 39. Top 10 Vietnam shrimp exporters to China, Jan - Jun 2023
................................................................................................................................................................................................. 47
Table 40. Top 10 shrimp exporters of Vietnam, Jan - Jun 2023 (US$ mil.)
................................................................................................................................................................................................. 48
VASEP REPORT
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Table 41. Shrimp imports into Vietnam, Jan - Jun 2023 48
.................................................................................................................................................................................................
Table 42. Shrimp imports into Vietnam, by species (USD) 49
.................................................................................................................................................................................................
Table 43. Vietnam pangasius products for export, QII/2022-2023 (US$) 53
Table 44. Vietnam pangasius exports, Jan – Jun/2023, by products
................................................................................................................................................................................................. 53
Table 45. Vietnam pangasius exports to main markets in QII/2023 (US$ mil.)
................................................................................................................................................................................................. 54
Table 46. Vietnam pangasius exports to main markets in QI – QII/2023
................................................................................................................................................................................................. 55
Table 47. Pangasius products exported to the US, Jan - Jun/2023
................................................................................................................................................................................................. 56
Table 48. The US’s imported whitefish products, Jan – Apr/2023
................................................................................................................................................................................................. 56
Table 49. Top 10 Vietnam pangasius exporters to the US, Jan - Jun/2023
................................................................................................................................................................................................. 57
Table 50. Pangasius products exported to the EU, QII/2022-2023 (US$)
................................................................................................................................................................................................. 58
Table 51. Pangasius products exported to EU, Jan – Jun/2022-2023
................................................................................................................................................................................................. 58
Table 52. Pangasius exports to EU member countries, Jan - Jun/2022-2023
................................................................................................................................................................................................. 59
Table 53. Top 10 Vietnam pangasius exporters to Germany, Jan - Jun/2023
................................................................................................................................................................................................. 59
Table 54. Pangasius products exported to the China & Hong Kong, QII/2022-2023
................................................................................................................................................................................................. 60
Table 55. Pangasius products exported to China & Hong Kong, Jan – Jun/2022-2023
................................................................................................................................................................................................. 60
Table 56. Top 10 Vietnam pangasius exporters to China & Hong Kong, Jan - Jun/2023
................................................................................................................................................................................................. 61
Table 57. Pangasius products exported to Mexico, QII/2022-2023
................................................................................................................................................................................................. 62
Table 58. Pangasius products exported to Mexico, Jan – Jun/2022-2023
................................................................................................................................................................................................. 62
Table 59. Top 10 Vietnam pangasius exporters to Mexico, Jan - Jun/2023
................................................................................................................................................................................................. 63
Table 60. Pangasius products exported to the UK, QII/2022-2023
................................................................................................................................................................................................. 64
Table 61. Pangasius products exported to UK, Jan – Jun/2022-2023
................................................................................................................................................................................................. 64
Table 62. Imported white fish products from UK, Jan - Apr/2022 – 2023
................................................................................................................................................................................................. 64
Table 63. Top 10 Vietnam pangasius exporters to the UK, Jan - Jun/202
................................................................................................................................................................................................. 65
Table 64. Pangasius products exported to Brazil, Jan – Jun/2022-2023 (US$)
................................................................................................................................................................................................. 65
Table 65. Top 10 Vietnam pangasius exporters to Brazil, Jan - Jun/2023
................................................................................................................................................................................................. 66
Table 66. Top 10 Vietnam pangasius exporters, Jan - Jun/2023
................................................................................................................................................................................................. 67
Table 67. Vietnam's tuna products for exports, Jan - June 2023
................................................................................................................................................................................................. 69
Table 68. Vietnam tuna exports to markets, QII/2022
................................................................................................................................................................................................. 71
Table 69. Vietnam's tuna exports to markets, Jan – Jun/2023
................................................................................................................................................................................................. 71
Table 70. Top 10 export markets for fresh/frozen tuna (HS 03) of Vietnam, Jan – Jun/2023
................................................................................................................................................................................................. 71
Table 71. Top 10 export markets for canned tuna (HS code16) of Vietnam, Jan - Jun 2023
................................................................................................................................................................................................. 71
Table 72. Import markets of Vietnam’s tuna, Jan – Jun/2023
................................................................................................................................................................................................. 72
Table 73. Vietnam tuna products exported to the US, Jan - June 2023
................................................................................................................................................................................................. 73
Table 74. Top 10 tuna suppliers to the US, Jan - May 2023
................................................................................................................................................................................................. 73
Table 75. Main imported tuna products into the US, Jan-May 2023
................................................................................................................................................................................................. 74
Table 76. Vietnam tuna exporters to the US, Jan - June 2023
................................................................................................................................................................................................. 75
Table 77. Vietnamese tuna products exported to the EU, Jan - June 2023
................................................................................................................................................................................................. 76
Table 78. Top 10 Vietnamese tuna exporters to the EU, Jan - June 2023
................................................................................................................................................................................................. 77
Table 79. Top tuna suppliers in the EU, QI/2022-2023
................................................................................................................................................................................................. 77
Table 80. Top 10 suppliers of frozen steamed tuna loin to EU, QI/2023
................................................................................................................................................................................................. 78
VASEP REPORT
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Table 81. Vietnam’s tuna products exported to Japan, Jan - June 2023 79
.................................................................................................................................................................................................
Table 82. Top 10 Vietnam tuna exporters to Japan, Jan - Jun 2023 79
.................................................................................................................................................................................................
Table 83. Main imported tuna products to Japan, Jan - Ap 2023 80
.................................................................................................................................................................................................
Table 84. Top 5 Vietnamese tuna exporters, Jan - Jun 2023 80
.................................................................................................................................................................................................
Table 85. Tuna products imported into Vietnam, Jan - Jun 2023 81
.................................................................................................................................................................................................
Table 86. Tuna suppliers to Vietnam, Jan - Jun 2023 81
.................................................................................................................................................................................................
Table 87. Vietnam cephalopod products for exports, Jan - Jun 2023 83
.................................................................................................................................................................................................
Table 88. Vietnam cephalopod exports to main markets, QII/2023 84
.................................................................................................................................................................................................
Table 89. Vietnam cephalopod exports to main markets, QI- QII/2023 85
.................................................................................................................................................................................................
Table 90. Top 10 export markets of Vietnam squid and cuttlefish, Jan - Jun 2023 85
Table 91. Top 10 export markets of Vietnam octopus, Jan - Jun 2023
................................................................................................................................................................................................. 85
Table 92. Vietnam cephalopod products exported to South Korea, Jan - Jun 2023
................................................................................................................................................................................................. 86
Table 93. Top 10 Vietnam cephalopod exporters to South Korea, Jan - Jun 2023
................................................................................................................................................................................................. 87
Table 94. Top 10 suppliers of cephalopod to South Korea, Jan - May 2023
................................................................................................................................................................................................. 87
Table 95. Cephalopod products imports into South Korea, Jan - May 2023
................................................................................................................................................................................................. 88
Table 96. Vietnam cephalopod products exported to Japan, Jan- Jun 2023
................................................................................................................................................................................................. 89
Table 97. Top 10 Vietnam cephalopod exporters to Japan, Jan - Jun 20233
................................................................................................................................................................................................. 89
Table 98. Top cephalopod suppliers to Japan, Jan – Apr 2023
................................................................................................................................................................................................. 90
Table 99. Cephalopod products imported into Japan, Jan - Apr 2022
................................................................................................................................................................................................. 90
Table 100. Vietnam cephalopod products exported to China & HK, Jan- Jun
................................................................................................................................................................................................. 91
Table 101. Top 10 Vietnam cephalopod exporters to China & HK, Jan- Jun 2023
................................................................................................................................................................................................. 92
Table 102. Vietnam cephalopod products exported to EU, Jan - Jun 2023
................................................................................................................................................................................................. 93
Table 103. Top 10 Vietnam cephalopod exporters to Italy, Jan - Jun 2023
................................................................................................................................................................................................. 93
Table 104. Vietnam’s cephalopod imports, Jan - Jun 2023
................................................................................................................................................................................................. 94
Table 105. Vietnam shell mollusk exports, by species, QI- QII 2023
................................................................................................................................................................................................. 94
Table 106. Vietnam shell mollusk exports, by products, QI- QII 2023
................................................................................................................................................................................................. 95
Table 107. Vietnam shell mollusk exports, by markets, QI- QII 2023
................................................................................................................................................................................................. 95
Table 108. Top 5 main exports market of Vietnam’s clam, QI-QII 2023
................................................................................................................................................................................................. 96
Table 109. Vietnam's exports of crabs and other crustaceans, by species, QII/2023
................................................................................................................................................................................................. 96
Table 110. Vietnam's exports of crabs and other crustaceans, by species, QI-QII 2023
................................................................................................................................................................................................. 97
Table 111. Vietnam's exports of crabs and other crustaceans, by product, Jan - Jun 2023
................................................................................................................................................................................................. 97
Table 112. Vietnam's crab exports, by markets, QII/2023
................................................................................................................................................................................................. 97
Table 113. Vietnam's crab exports, by markets, Jan - Jun
................................................................................................................................................................................................. 98
Table 114. Top 10 Vietnam’s crab exporters, Jan- Jun 2023
................................................................................................................................................................................................. 98
Table 115. Vietnam fish cake, surimi exports to main markets, QII 2023
................................................................................................................................................................................................. 100
Table 116. Vietnam fish cake and surimi exports to main markets, Jan - Jun 2023
................................................................................................................................................................................................. 100
VASEP REPORT
LIST OF TABLES
Fig. 1. Vietnam seafood exports to 8 main markets, Jan - Jun 2023 (US$ mil.)
................................................................................................................................................................................................. 20
Fig. 2. Vannamei shrimp farm gate Vietnam, 40 pcs/kg
................................................................................................................................................................................................. 29
................................................................................................................................................................................................. 30
................................................................................................................................................................................................. 30
Fig. 5. Blacktiger shrimp farm gate Vietnam, 30 pcs/kg
................................................................................................................................................................................................. 30
................................................................................................................................................................................................. 31
................................................................................................................................................................................................. 31
Fig. 8. Vietnam shrimp exports, by species, Jan-Jun, 2022
................................................................................................................................................................................................. 32
Fig. 9. Vietnam shrimp exports, by species, Jan-Jun, 2022
................................................................................................................................................................................................. 32
Fig. 10. Vietnam shrimp exports, by markets, Jan-Jun 2022
................................................................................................................................................................................................. 35
Fig. 11. Vietnam shrimp exports, by markets, Jan-Jun 2023
................................................................................................................................................................................................. 35
Fig. 12. Vietnam’s shrimp exports to the US, Jan-Jun 2023
................................................................................................................................................................................................. 36
Fig. 13. The average price of frozen shrimp exported to the US, Jan 2022-Jun 2023
................................................................................................................................................................................................. 36
Fig. 14. Vietnam’s shrimp exports to the EU, Jan-Jun 2023
................................................................................................................................................................................................. 38
Fig. 15. The average price of frozen shrimp exported to Germany, Jan 2022 - Jun 2023
................................................................................................................................................................................................. 40
Fig. 16. Vietnam’s shrimp exports to Japan, Jan - Jun 2023
................................................................................................................................................................................................. 41
Fig. 17. The average price of frozen shrimp exported to Japan, Jan 2022-Jun 2023
................................................................................................................................................................................................. 42
Fig. 18. Vietnam’s shrimp exports to S.Korea, Jan - Jun 2023
................................................................................................................................................................................................. 43
Fig. 19. The average price of frozen shrimp exported to S.Korea, Jan 2022-Jun 2023
................................................................................................................................................................................................. 44
Fig. 20. Vietnam’s shrimp exports to China & HK, Jan - Jun 2023
................................................................................................................................................................................................. 46
Fig. 21. The average price of frozen shrimp exported to China, Jan 2022-Jun 2023
................................................................................................................................................................................................. 46
Fig. 22. Frozen warmwater shrimp import volume into China (HS 030617)
................................................................................................................................................................................................. 47
Fig. 23. Prices of raw pangasius grade I in Dong Thap, 2022-2023
................................................................................................................................................................................................. 51
Fig. 24. Prices of raw pangasius sz 1000-1200g
................................................................................................................................................................................................. 52
Fig. 25. Prices of raw pangasius sz >1200g
................................................................................................................................................................................................. 52
Fig. 26. Vietnam pangasius exports in QII/2023
................................................................................................................................................................................................. 52
Fig. 27. Vietnam pangasius exports to main markets, Jan - Jun/2022 - 2023
................................................................................................................................................................................................. 54
Fig. 28. Structure of pangasius import markets in the first 6 months of 2023
................................................................................................................................................................................................. 54
Fig. 29. Structure of pangasius import markets in the first 6 months of 2022
.................................................................................................................................................................................................
54
Fig. 30. Average export prices of Vietnam pangasius, Jan - Jun/2022-2023
.................................................................................................................................................................................................
55
Fig. 31. Vietnam pangasius exports to the US, Jan - Jun/2022 - 20
.................................................................................................................................................................................................
56
Fig. 32. Average prices of Vietnam pangasius exported to the US, Jan - Jun/2022-2023
.................................................................................................................................................................................................
57
Fig. 33. Vietnam pangasius exports to EU, Jan - Jun/2022 - 2023
.................................................................................................................................................................................................
58
Fig. 34. Average prices of Vietnam pangasius exported to EU, Jan - Jun/2022-2023
.................................................................................................................................................................................................
58
Fig. 35. Vietnam pangasius exports to China & HK, Jan - Jun/2022 - 2023
.................................................................................................................................................................................................
60
Fig. 36. Average prices of Vietnam pangasius exported to China, Jan - Jun/2022-2023
.................................................................................................................................................................................................
61
Fig. 37. Vietnam pangasius exports to Mexico, 2022 - 2023
.................................................................................................................................................................................................
62
Fig. 38. Average prices of Vietnam pangasius exported to Mexico, Jan - Jun/2022-2023
.................................................................................................................................................................................................
62
Fig. 39. Vietnam pangasius exports to UK, Jan - Jun/2022 - 2023 (US$ mil.
.................................................................................................................................................................................................
63
Fig. 40. Average prices of Vietnam pangasius exported to UK, Jan - Jun/2022-2023
.................................................................................................................................................................................................
63
.................................................................................................................................................................................................
Fig. 41. Vietnam pangasius exports to Brazil, Jan - Jun/2022 - 2023 66
.................................................................................................................................................................................................
Fig. 42. Average prices of Vietnam pangasius exported to Brazil, Jan - Jun/2022-2023 66
Fig. 43. Vietnam’s tuna export turnover, Jan- Jun, 2019-2023
................................................................................................................................................................................................. 69
Fig. 44. Vietnam tuna exports, by HS code, Jan 2022 - Jun 2023
................................................................................................................................................................................................. 70
Fig. 45. Vietnam tuna exports, Jan 2022 - Jun 2023
................................................................................................................................................................................................. 70
Fig. 46. The structure of Vietnam’s tuna import market, Jan-June 2023
................................................................................................................................................................................................. 72
Fig. 47. The structure of Vietnam’s tuna import market, Jan-June 2022
................................................................................................................................................................................................. 72
Fig. 48. Vietnam tuna exports to the US, Jan 2022 - Jun 2023
................................................................................................................................................................................................. 73
Fig. 49. Average prices of Vietnam tuna HS code 03048700 exported to the US, Jan 2022 - May 2023
................................................................................................................................................................................................. 75
Fig. 50. Average prices of Vietnam tuna HS code 1604144000 exported to the US, Jan 2022 - May 2023
................................................................................................................................................................................................. 75
Fig. 51. Vietnam tuna exports to EU, Jan 2022 - Jun 2023
................................................................................................................................................................................................. 76
Fig. 52. Vietnam tuna exports to the US, Jan 2022 - Jun 2023
................................................................................................................................................................................................. 78
Fig. 53. Average prices of Vietnam tuna HS code 03048700 exported to the Japan, Jan 2022 - Jun 2023
................................................................................................................................................................................................. 79
Fig. 54. Average prices of Vietnam tuna HS code 16041490 exported to the Japan, Jan 2022 - Jun 2023
................................................................................................................................................................................................. 79
Fig. 55. Import markets of Vietnam’s cephalopods, Jan - Jun 2022
................................................................................................................................................................................................. 84
Fig. 56. Import markets of Vietnam’s cephalopods, Jan - Jun 2023
................................................................................................................................................................................................. 84
Fig. 57. Vietnam’s cephalopod exports to South Korea, 2022-2023
................................................................................................................................................................................................. 86
Fig. 58. Average export price of frozen cephalopod from Vietnam to S. Korea, Jan 2022 - Jun 2023
................................................................................................................................................................................................. 87
Fig. 59. Vietnam’s cephalopod exports to Japan, 2022-2023
................................................................................................................................................................................................. 88
Fig. 60. Average export price of frozen cephalopod from Vietnam to Japan, Jan 2022-Jun 2023
................................................................................................................................................................................................. 89
Fig. 61. Vietnam’s cephalopod exports to China & HK, 2022-2023
................................................................................................................................................................................................. 91
Fig. 62. Average export price of frozen cephalopod from Vietnam to China & HK, Jan 2022 - Jun 20
................................................................................................................................................................................................. 91
Fig. 63. Vietnam’s cephalopod exports to EU, 2022-2023
................................................................................................................................................................................................. 92
Fig. 64. Average export price of frozen cephalopod from Vietnam to Italy, Jan 2022-Jun 2023
................................................................................................................................................................................................. 93
Fig. 65. Vietnam’s crabs and other crustaceans exports, Jan 2022-Jun 2023
................................................................................................................................................................................................. 96
Fig. 66. Import markets of Vietnam crab and other crustaceans in H1/2023
................................................................................................................................................................................................. 98
Fig. 67. Import markets of Vietnam crab and other crustaceans in H1/2022
................................................................................................................................................................................................. 98
Fig. 68. Vietnam’s fishcake and surimi exports, Jan 2022- Jun 2023
................................................................................................................................................................................................. 99
Fig. 69. Import markets of Vietnam’s fishcake and surimi in H1 2023
................................................................................................................................................................................................. 99
Fig. 70. Import markets of Vietnam’s fishcake and surimi in H1 2022
................................................................................................................................................................................................. 99
VASEP REPORT
Direction of implementation Experts of Implementation
Truong Dinh Hoe (Mr) LE HANG (email: lehang@vasep.com.vn)
General Secretary of VASEP NGUYEN THI VAN HA (email: vanha@vasep.com.vn)
LE THI BAO NGOC (email: baongoc@vasep.com.vn)
In charge of content and publication PHUNG KIM THU (email: kimthu@vasep.com.vn)
Nguyen Hoai Nam (Mr) NGUYEN THI THU HANG (email: thuhang@vasep.com.vn)
Deputy General Secretary of VASEP
Publisher
Nguyen Thu Trang
Managing Editor
Email: nguyentrang@vasep.com.vn
Le Hang (Ms)
Tel: (+84)24 38354496 Ext 212
Email: lehang@vasep.com.vn
Mobile : (+84)868 093 697 - (+84)0906 151 556
PREFACE
The world economy declined, high inflation led to a decrease in seafood consumption and import volume in main
import markets. In the first half of this year, Vietnam’s seafood processing and export sector still faced disadvantages.
competitive pressure with other producing countries.
These are the main reasons why seafood exports in the first 6 months of the year decreased by 27% compared to the
same period last year. Market problems such as high inventories, reduced demand, and falling prices are factors that
strongly affect export shrimp and pangasius sectors, especially in large markets such as the US and EU.
Therefore, pangasius exports fell the most in the first 6 months, followed by shrimp. The marine seafood sector continues
to face a shortage of raw materials, high input costs, and most importantly, the IUU yellow card is making the procedures
for certifying fishery products to go to the EU market more difficult.
Vietnam’s seafood exports to most export markets have fallen deeply, even to the Chinese market, which is considered
a ray of hope for enterprises in 2023.
The post-Covid economies and the context of war and inflation have not shown positive signals, or only recovered
slowly, which will continue to dominate the trend of food consumption, including seafood.
However, the product structure and processing activities of seafood enterprises have been adjusted to the new context.
Therefore, although many enterprises experienced a decrease in sales compared to the same period last year, there were
still enterprises that achieved positive growth in export turnover in the first half of this year thanks to maintaining labor,
utilizing capacity, processing value added products and outsourcing... In the second half of the year, they will continue
to be part of the driving force to recover sales for the whole industry.
Can Vietnam seafood export reach the expected target of 10 billion USD in 2023? By the end of July, seafood export has
only earned nearly 5 billion USD, can it breakthrough in the last 5 months of the year?
There are objective factors such as the market and internal difficulties that need to be resolved for the seafood industry
to stabilize or accelerate in the year-end period. There will be two more optimistic and less optimistic scenarios for the
seafood exports in 2023.
To grab more details about changes in product structure and export markets, the business situation of Vietnam seafood
enterprises in the first half of 2023, assess the resilience of consumption markets, and competitiveness of Vietnam’s
seafood in 2023, opportunities and challenges in the coming time… please register for the Report on Vietnam’s
Seafood Exports, Quarter II/2022.
We cordially invite you to read VASEP’s Report on Vietnam Seafood Exports, QII/2023 and please share your evaluations
and suggestions with the Editorial Board to make the report more valuable for your reference.
All comments should be sent to:
Ms. Le Hang, Email: lehang@vasep.com.vn, Tel: 84 982195872
Editorial Board
VASEP REPORT
CHAPTER I. OVERVIEW ON VIETNAM SEAFOOD PRODUCTION AND EXPORTS
CHAPTER I:
OVERVIEW ON VIETNAM SEAFOOD
PRODUCTION AND EXPORTS
VASEP REPORT Report on Vietnam Seafood Exports in Q.II/2023 10

I. OVERVIEW
Vietnam’s seafood export turnover in the second same period last year, the negative growths of
quarter of 2023 reached over 2.3 billion USD, 30% these two markets was also lower than in QI.
higher than the first quarter. However, compared Meanwhile, exports to Japan, South Korea and
to the same period in 2022, the negative growth the EU only grew modestly compared to QI, even
rate of 27.5% remained unchanged from the first showing in a deeper decline compared to same
quarter. Therefore, by the end of the first half of period in 2022.
2023, seafood exports amounted to US$ 4.15 Inventory in the US and China is probably gradually
billion, which was 27.5% lower than the same clearing, leading to recovered import demand,
period last year. which are positive signals for Vietnam seafood
Exports of shrimp, pangasius, and tuna fell sharply exports. However, inflation continues to restrain
by 31-39% compared to the previous year, while consumer spending in other countries, resulting in
cephalopods and other marine fish exports no signs of export breakthrough in Japan, Korea,
declined slightly by 15% and 4% respectively. EU, and other important markets…
In QII/2023, Vietnam seafood exports to the US By the end of June 2023, China - HK has become the
and China showed significant improvement. The number 1 export destination of Vietnam seafood
export value to both markets was much higher with over US$ 716 million, closely followed by
than in QI. Specifically, exports to the US increased Japan with US$713 million and the US with US$
by 49%, and to China by 57%. Compared to the 706 million.
Table 1. Vietnam’s seafood exports by main products, QI-QII/2023 (US$ mil.lion)

Compared to Compared to Jan - Compared to
Products QI/2023 QII/2023
QI/2022 (%) QII/2022 (%) Jun/2023 H1/2022 (%)
Shrimp 599.953 -37.2 946.431 -28.0 1,546.384 -31.9
Pangasius 421.917 -35.4 450.782 -41.5 872.699 -38.7
Tuna 180.378 -30.4 201.635 -31.2 382.013 -30.9
Other fish 427.469 1.7 489.348 -8.8 916.816 -4.2
Cephalopod 138.346 -11.3 153.584 -17.9 291.930 -14.9
Shell mollusks 32.717 3.7 33.166 -20.4 65.883 -10.0
Other mollusks 1.495 23.8 1.542 -15.2 3.037 0.4
Crab and crustaceans 29.697 -42.5 41.770 -18.6 71.466 -30.6
Total 1,831.972 -27.5 2,318.257 -27.5 4,150.229 -27.5
Source: VASEP (based on Vietnams’ Customs data)
Table 2. Vietnam’s seafood exports by main products, QI-QII/2023 (US$ mil.)

Compared to Compared to Jan - Compared to
Markets QI/2023 QII/2023
QI/2022 (%) QII/2022 (%) Jun/2023 H1/2022 (%)
China & HK 278.744 -23.0 437.585 -21.6 716.329 -22.2
Japan 322.305 -7.4 390.584 -13.7 712.889 -11.0
The US 283.508 -50.7 422.895 -42.7 706.403 -46.2
EU 219.429 -26.4 239.292 -38.7 458.721 -33.4
S. Korea 171.510 -15.7 185.101 -25.6 356.611 -21.1
Others 556.475 -25.0 642.801 -20.5 1.199.276 -22.7
Total 1.831,972 -27,5 2.318,257 -27,5 4.150,229 -27,5
Source: VASEP (based on Vietnams’ Customs data)

VIETNAM SEAFOOD EXPORTS,
JAN – JUN 2023
AUSTRALIA
$144 mil., ↓22%
JAPAN UK
$713 mil., ↓11% $141 mil., ↓3%
THE US THAILAND
$706 mil., ↓46% $127 mil., ↓23%
S. KOREA NETHERLAND
$357 mil., ↓21% $89 mil., ↓43%

II. FISHERY PRODUCTION

General production Other aquaculture products: Marine aquaculture
yielded approximately 329 thousand tons,
According to a report from the Department of
achieving 49% of the plan. This includes molluscs
Fisheries, by the end of June 2023, the total fishery
at about 172 thousand tons (43.5% of the plan)
production is estimated to be 4.27 million tons,
and marine fish at about 21 thousand tons (52.5%
up 1.7% from the same period in 2022 (4.2 million
of the plan). Tilapia production reached 150
tons). Specifically, capture production reached
thousand tons, meeting 58% of the plan, while
1.934 million tons, up 0.2% from 2022 (1.93 million
mixed farming and other freshwater fish reached
tons), and aquaculture production reached more
approximately 600 thousand tons, which is 53% of
than 2.336 million tons, up 3.0% from 2022 (2.27
the plan.
million tons).
Fishing output:
Compared to the fishery production plan for 2023,
the total production has completed 47.2% of the By the end of 2022, Vietnam had 86,820 vessels,
plan (9.05 million tons). Capture production has including 38,500 fishing vessels of 6 -12m length,
completed 52.5% of the plan (3.68 million tons), 18,300 fishing vessels of 12 -15m length, 27,500
and aquaculture production has completed 43.5% fishing vessels of 15 - 24m length, and 2,590
(5.37 million tons).” fishing vessels over 24m. The target set by the end
of 2023 is to reduce the total number of vessels to
Blackish water shrimp production: The area of
86,558 units
brackish water shrimp farming in the first 6 months
of 2023 was about 656 thousand ha, up of 6.4% Currently, there are 80 fishing ports that are eligible
over the same period in 2022 (617 thousand ha). to operate in accordance with the law; 53 fishing
Among the total area, black tiger shrimp farming ports are eligible for the system of certifying the
accounted for the majority with 605 thousand origin of wide caught products; 62 fishing ports
hectares. The remaining 51 thousand hectares for offshore fishing vessels to land.
were white-leg shrimp farming. The tuna fishing output in the first 6 months of
The output of brackish water shrimp in the first 2023 from three key provinces was estimated at
6 months of 2023 reached about 467 thousand 10,581 tons, representing a 7.1% decrease from
tons, up 4.1% over the same period in 2022 (448 the same period in 2022. Specifically, in Phu Yen,
thousand tons), of which the output of black tiger it reached 2,200 tons, down 8.3% from 2022; in
shrimp reached 119.3 thousand tons (up 1.2 %) Binh Dinh, the output was 7,348 tons, down 2.4%;
and whiteleg shrimp reached 315.2 thousand and in Khanh Hoa, it was estimated at 1,033 tons,
tons (up 5.2%). equal to 70% of the output from the same period
in 2022.
Pangasius: Breeding area was 3,220 ha, up 3.7%
over the same period in 2022. Harvested output
reached 859 thousand tons, up 11.3% over the
same period in 2022. VietGAP certified pangasius
farming area reached 3,192 hectares, with an
estimated output of 1.1 million tons. Besides
VietGAP certification, many pangasius farms are
now certified with other standards such as Global
GAP, ASC, and BAP.

III. EXPORTS
1. Main export products
High inflation and large inventories have resulted

in lower consumption demand in almost all
markets, causing exports of Vietnam’s main
seafood products to decrease over the same
period last year. Exports of key seafood products,
such as frozen vannamei shrimp, black tiger
shrimp, pangasius, and tuna, sharply declined.
However, there are products with positive
growths in exports, mainly focusing on dried
and canned products from anchovies, herring,
crayfish, and dried krill. Particularly, marine
fish species imported from other countries
for processing like cod, pollock, and mackerel,
experienced higher export sales compared to
the same period last year.
Table 3. Top 20 seafood species for exports in QI/2021 - 2022 (US$ mil.)
No Products Jan- Jun 2023 Jan- Jun/2022 Change (%)
1 Whiteleg shrimp 1,145.062 1,684.610 -32
2 Pangasius 872.699 1,423.703 -38.7
3 Tuna 382.013 552.549 -30.9
4 Black tiger shrimp 227.134 315.693 -28.1
5 Squid 167.655 192.805 -13
6 Fishcake & Surimi 150.007 195.158 -23.1
7 Salmon 143.669 153.849 -6.6
8 Octopus 124.275 150.251 -17.3
9 Anchovy 85.033 63.778 33.3
10 Scad fish 71.092 72.619 -2.1
11 Crab 46.976 62.880 -25.3
12 Lobster 46.089 119.729 -61.5
13 Clam 40.129 51.430 -22
14 Cod 36.091 24.517 47.2
15 Pollock 35.178 31.166 12.9
16 Barramundi 29.029 37.598 -22.8
17 Saba 24.984 30.994 -19.4
18 Leather jacket 24.233 25.821 -6.2
19 Yellow stripe scad 23.739 21.288 11.5
20 Swimming crab 23.580 39.447 -40.2
Source: VASEP (based on Vietnam’s Customs data)

1.1. Shrimp
In the first 6 months of 2023, Vietnam’s shrimp only 8.5% lower than the same period last year.
exports reached US$1.5 billion, down 32% over Compared to the first quarter, shrimp exports to
the same period. Vannamei shrimp accounted the US were also 87% higher, to CPTPP countries
for 74% of export value with over US$1.1 billion were 26% higher, to Japan 24% higher, to the EU
in the first half of this year, down 32% over the 17% higher, to South Korea 13% higher, and to
same period. Black tiger shrimp accounted for other markets 66% higher. The rate of decline
15% with US$227 million, down 28%. Some in shrimp exports to these markets over the
species with increased export value included same period last year was also gradually smaller
marine krill increased by 9%, crayfish increased compared to the first quarter.
by 27%, brown shrimp increased by 9%, green By June 2023, Vietnam’s shrimp exports to the EU
tiger prawn and Greasy back shrimp increased dropped the most, nearly 49%, of which shipment
sharply by 132-2,352% over the same period in to the main markets in the bloc, including
2022. Germany, the Netherlands, and Belgium, all fell
While exports of frozen and processed white leg deeply by 50%-58%. Shrimp exports to the US
shrimp, black tiger shrimp all decreased over the are still 38% lower than the same period last year,
same period, the demand for dried shrimp, krills to Japan down 29%, and to Korea down 28%.
and canned shrimp increased, so export turnover Exports to other markets decreased by more
increased by 56% and 39% respectively. than 8%. Nevertheless, exports to some market
In the second quarter, shrimp exports to most still showed positive growth, such as Taiwan
markets showed more positive signs than in the increased by 11%, Switzerland by 16%, and
first quarter. Exports to China - HK were nearly Papua New Guinea increased by nearly 8 times
three times higher than in the first quarter and compared to the same period.
Table 4. Vietnam’s shrimp exports by markets (US$ mil.)

Market Jan- Jun/2022 Jan- Jun 2023 Change (%)
CPTPP 632.153 412.609 -34.7
Japan 332.533 236.256 -29.0
Australia 136.030 108.192 -20.5
Canada 136.451 45.078 -67.0
US 482.806 298.692 -38.1
China &HK 332.680 280.590 -15.7
EU 377.836 192.917 -48.9
Germany 92.542 46.280 -50.0
The Netherlands 99.493 42.070 -57.7
BBelgium 80.069 36.907 -53.9
South Korea 231.250 166.413 -28.0
Other markets 213.179 195.163 -8.5
UK 101.805 89.211 -12.4
Taiwan 29.233 32.533 11.3
Switzerland 13.108 15.233 16.2
Papua New Guinea 1.273 10.993 763.5
Philippines 7.175 6.969 -2.9
Total 2,269.904 1,546.384 -31.9
Source: VASEP (based on Vietnam’s Custom data)

1.2. Pangasius
In the first half (H1) of 2023, Vietnam’s pangasius in the first quarter to US$ 83 million in the second
exports hit almost US$ 873 million, marking a quarter (up 43%), other markets only experienced
39% decline from the same period in the previous a small gain. Exports to the EU and China even
year. Among the product segments, frozen experienced a drop compared to the first quarter.
pangasius fillets experienced the steepest drop In H1/2023, pangasius exports to most major
(-42%), while frozen whole pangasius products markets were 20%-60% lower than the same period
(HS code 03) saw a more moderate decrease of last year. Exports to the two largest markets, China
10%. Processed pangasius export value declined and the US, fell by 34% and 60%, respectively.
by 34%. Pangasius exports to the EU decreased by 20%
Pangasius exports in QII reached US$451 million, and to CPTPP countries decreased by 36%.
down 42% over the same period - a deeper The prevailing trend in almost all markets of
decrease in the first quarter (-35%). While other Vietnam’s pangasius is a decline in import.
commodities all recovered significantly compared However, exports to some markets still showed
to the first quarter, pangasius exports only an increase, including: UK up 3%, Iraq up 144%,
increased slightly. Germany up 39%, Singapore up 6 %, Finland
Except for the US, which showed a significant increased 15 times.
breakthrough from exports sales of US$58 million
Table 5. Pangasius exports by products, Jan- Jun/2023 (US$ mil.)
Jan- Jun/ Jan- Jun/ Change Proportion
Products
2022 2023 (%) (%)
Pangasius (HS 03 & 16) 1,428.703 872.699 -38.7 21.0
Other processed pangasius (HS code 16) 20.592 13.583 -34.0 1.6
Live/fresh/frozen/dried pangasius (HS 03, excl HS code 0304) 153.843 138.511 -10.0 15.9
Pangasius HS code 0304 (excl. fish cake and surimi) 1,249.268 720.605 -42.3 82.6
Table 6. Vietnam’s pangasius exports by market, Jan-Jun 2023 (US$ mil.)

Markets Jan - Jun 2023 Jan - Jun 2022 Change (%)
China &HK 280.557 427.605 -34.4
Hong Kong 18.353 20.926 -12.3
China 262.204 406.679 -35.5
US 140.622 356.440 -60.5
CPTPP 114.929 180.263 -36.2
Mexico 31.567 62.391 -49.4
Singapore 18.121 17.131 5.8
Canada 16.699 33.922 -50.8
EU 88.396 110.681 -20.1
The Netherlands 24.502 34.433 -28.8
Germany 17.991 12.937 39.1
Belgium 8.288 10.646 -22.1
Other markets 248.195 348.714 -29.1
Brazil 37.812 49.109 -23.0
UK 33.196 32.262 2.9
Thailand 27.156 53.291 -49.0
Total 872.699 1,423.703 -38.7

1.3. Tuna
In H1/2023, Vietnam’s tuna exports dropped In recent years, the US market accounted for more
by 31% to US$382 million. Compared to QI, than half of Vietnam’s tuna export sales. But in the
the export turnover of US$202 million in QII did first half of this year, with US$ 43 million, 53% lower
not meet the expected breakthrough, as it only than the same period, the US only accounted
increased by 23% compared to QI and decreased for 37% of total tuna exports. Meanwhile, the
by 31% compared to the same period last year - an proportion of exports to the EU increased from
even larger decrease than in the first quarter. 13% in the same period in 2022 to 20% in the first
In the first half of the year, tuna exports fell the most half of this year, thanks to keeping the turnover
in the frozen loin/fillet/steak segment (HS code equivalent to the same period at over US$77
0304), down 47%, fresh/frozen tuna down 3.3%. million. Germany, the Netherlands, Italy, Finland
Meanwhile, canned tuna exports still increased and some small markets in the EU all have higher
slightly by 1%; export sales of other processed tuna import sales compared to the same period
tuna even increased by 10% over the same period. in 2022.
Table 7. Vietnam's tuna products for exports from Jan- Jun 2023(US$ mil.)
Jan- Jan- Jun Change Proportion
Products
Jun/2022 2023 (%) (%)
Total 552.549 382.013 -30.9 100
Other processed tuna (HS code 16) 54.786 60.200 9.9 15.8
Canned tuna (HS code 16) 113.452 114.473 0.9 30.0
Fresh/frozen/dried tuna (HS code 03, ex HS code 0304) 8.146 7.880 -3.3 2.1
Tuna loin/fillet/steak (HS code 0304, excl fish cake and surimi) 376.165 199.460 -47.0 52.2
Table 8. Vietnam’s tuna export by market, Jan- Jun 2023 (US$ mil.)
Market QI/2023 Change (%) QII/2023 Change (%) Jan- Jun/2023 Change (%)
US 64.130 -53.2 78.638 -51.8 142.768 -52.5
EU 37.246 -1.2 40.068 1.6 77.314 0.2
Germany 7.713 10.5 7.743 40.5 15.456 23.8
The Netherlands 7.706 24.1 6.805 55.1 14.511 36.9
Belgium 2.542 -44.0 4.022 -35.0 6.565 -38.8
CPTPP 26.152 -14.0 30.299 -19.5 56.450 -17.0
Japan 7.939 29.1 8.809 -29.8 16.749 -10.4
Canada 4.327 -69.5 8.571 -42.0 12.898 -55.5
Mexico 5.514 28.8 6.120 69.1 11.634 47.3
South Korea 2.910 636.5 2.989 59.8 5.898 160.4
China &HK 0.904 122.0 1.387 102.8 2.291 110.0
Hong Kong 0.801 96.7 1.017 62.8 1.818 76.2
China 0.103 83649.9 0.370 524.5 473 697.1
Other markets 49.037 -8.2 48.254 -4.1 97.291 -6.2
Israel 13.370 86.7 11.408 98.5 24.778 92.0
Thailand 7.473 105.9 11.364 37.7 18.838 58.5
Russia 5.421 19.6 4.633 15.7 10.054 17.8
Total 180.378 -30.4 201.635 -31.2 382.013 -30.9

Three markets that also showed higher 1.5 times, while other markets decreased.
export growth over the same period included Among CPTPP countries, Mexico, Chile and
Israel with an increase of 92%, Thailand New Zealand sharply increased Vietnam’s tuna
with an increase of 58% and Russia with an imports, increasing by 47%-85% in H1. Most of
increase of 17%. However, compared to QI, the markets in the bloc tend to increase tuna
only the turnover to Thailand increased by imports in QII/2023 versue QI/2023.
1.4. Mollusks
In the first 6 months of this year, cephalopod squid products, accounting for nearly 30%, of
exports reached nearly US$292 million, down which the Japanese market alone accounts
15% compared to the same period last year. for 14% and has a 10% higher import turnover
In which, squid products accounted for 57% compared to the same period last year. Regarding
with nearly US$168 million, 13% lower than the the single market, South Korea is the number 1
same period last year. Octopus exports reached market of Vietnam’s squid, accounting for 18%
US$124 million, accounting for 43% and 17% and tends to increase imports of this product in
lower than in the first half of 2022. In the secondthe second quarter. However, compared to the
quarter, while squid exports tended to recover, first half of 2022, squid exports to South Korea
up 23% compared to the first quarter, octopus still decreased slightly by nearly 5%. The China
sales declined slightly by 3%. - HK market also tends to increase imports of
Export of shellfish products decreased by 10% Vietnamese squid products. Particularly, in the
over the same period to nearly US$ 66 million, of second quarter, exports of fresh/frozen squid to
which clams accounted for 61% with over US$ 40 China - HK increased 2.5 times.
million. While clam exports decreased by 22%, For octopus, South Korea accounted for 56% with
snail exports increased by nearly 49% over the export sales of over US$ 70 million. However,
same period. In addition, Vietnam also increased compared to the same period last year, octopus
66% of sea cucumber export value in the first half exports to South Korea still decreased by 23%.
of this year. Japan accounted for 30% and the turnover
CPTPP countries consume the most Vietnamese decreased slightly by 4% compared to the same
period last year.
Table 9. Vietnam’s mollusk exports, Jan-Jun, 2023 (US$ mil.)

Products Jan- Jun/2022 Jan- Jun/2023 Change (%) Proportion (%)
Cephalopods 343.055 291.930 -14.9 100
Squid 192.805 167.655 -13.0 57.4
Octopus 150.251 124.275 -17.3 42.6
Shell mollusks 73.225 65.883 -10.0 100
Clam 51.430 40.129 -22.0 60.9
Snail 6.069 9.034 48.9 13.7
Scallop 8.594 7.209 -16.1 10.9
Oyster 2.964 5.667 91.2 8.6
Other mollusks 3.026 3.037 0.4 100
Sea cucumber 1.456 2.410 65.5 79.4
Source: VASEP (Based on Vietnam’s Customs data)

Table 10. Major export markets of Vietnam cephalopods, (US$ mil.)

Compared to Compared to Jan-Jun/ Proportion
Market QI/2023 QII/2023 Change (%)
QI/2022 (%) QII/2022 (%) 2023 (%)
Squid 75.268 -11.3 92.388 -14.4 167.655 -13.0 100.0
CPTPP 23.808 9.7 25.727 -2.3 49.535 3.1 29.5
South Korea 12.159 -3.8 18.454 -5.2 30.613 -4.6 18.3
China &HK 9.250 -41.4 14.658 -19.0 23.908 -29.4 14.3
EU 9.501 -18.3 9.120 -42.1 18.622 -32.0 11.1
US 3.031 -17.3 2.762 -47.0 5.793 -34.8 3.5
Others 17.518 -9.9 21.666 -6.2 39.184 -7.9 23.4
Octopus 63.079 -11.3 61.196 -22.6 124.275 -17.3 100
South Korea 37.500 -11.5 32.935 -32.4 70.435 -22.7 56.7
CPTPP 19.115 -1.3 19.488 -6.1 38.603 -3.8 31.1
EU 2.688 -16.6 2.198 -42.6 4.886 -30.7 3.9
China &HK 0.856 -9.0 2.418 82.3 3.274 44.5 2.6
US 1.370 -53.4 1.795 -37.8 3.165 -45.7 2.5
Others 1.549 -32.4 2.362 46.4 3.911 0.1 3.1
1.5. Crabs and other crustaceans

Total exports of crabs and other crustaceans in US$16 million, a sharp drop of 46% compared to
the first half of this year decreased by 31% to the same period last year. The next top 5 markets
over US$71 million, of which crab accounted include France, Canada, China, South Korea and
for 66% with nearly US$ 47 million, down 25%, the UK, accounting for 4.3 - 5.7% of value.
swimming crab accounted for 33% with nearly
US$ 24 million, down 40%.
Vietnam’s crab products are mainly exported
to the US market, with over US$34 million in
H1/2023, up 60% over the same period and
accounting for 73% of the proportion. Two
other markets also accounted for a significant
proportion, France and Canada, accounting for
9% and 12% respectively. During this period,
exports to Canada increased by 13%, exports to
France decreased deeply by 87%.
For swimming crab exports, the US is also the
largest market, accounting for 68%, with over
Table 11. Crabs and other crustaceans exports, Jan- Jun/2023 (US$ mil.)
Products Jan- Jun/2022 Jan- Jun/2023 Change (%) Proportion (%)
Crabs and other crustaceans 102.958 71.466 -30.6 100
Crab 62.880 46.976 -25.3 65.7
Swimming crabs 39.447 23.580 -40.2 33.0
Sesarmid crabs 0.556 0.911 63.9 1.3
Varunidae 0.075 0 -100.0 0.0

Table 12. Exports of crabs and other crustaceans, by markets (US$ mil.)
Compared to Compared to Jan- Proportion
Market QI/2023 QII/2023 Change (%)
QI/2022 (%) QII/2022 (%) Jun/2023 (%)
Crab 20.212 -32.8 26.763 -18.4 46.976 -25.3 100.0
US 13.296 104.3 21.101 40.9 34.397 60.1 73.2
France 1.695 -90.8 2.275 -82.6 3.971 -87.4 8.5
Canada 3.242 26.5 2.178 -3.1 5.421 12.6 11.5
Swimming crab 8.947 -57.8 14.633 -19.9 23.580 -40.2 100.0
US 6.110 -61.8 9.967 -27.9 16.077 -46.1 68.2
France 388 -76.5 945 -9.5 1.333 -50.5 5.7
Canada 625 9.4 506 8.9 1.131 9.1 4.8
China 1.046 1.046 4.4
South Korea 387 -34.4 649 -31.1 1.036 -32.4 4.4
UK 589 8.1 421 -28.7 1.010 -11.0 4.3
2. Export markets
In the first half of 2023, among the main export inventory. Importers had to wait for the next
markets of Vietnamese seafood, exports to the period to clear the inventory, leading to reduced
US fell the most (-46%) due to large inventories, imports and a decrease in import prices due to
high inflation, and weak consumption demand. competition with the selling price of fish stock
As a result, the US lost its ranking as the largest in 2022. Consequently, in this period, pangasius
import market for Vietnamese seafood to Japan. exports to the US dropped the most.
The top 3 most exported products to the US However, other marine and freshwater fish
include: shrimp, pangasius, and tuna, all decreased products of Vietnam such as fish cake, surimi,
by 38%- 60% compared to the first half of 2022. mackerel, sailfish, halibut, elongate mudskipper,
In the US market, Vietnamese shrimp faces fierce bronze featherbac, and especially cod are in high
competition from Ecuador and India due to their demand in the US. These additional imports
abundant supplies and lower prices. In the first could partly compensate for the decline in
half of 2022, Vietnamese pangasius exports to shrimp, pangasius, and tuna exports.
the US increased dramatically, resulting in a large
Fig 1. Vietnam seafood exports to 8 main markets, Jan - Jun 2023 (US$ mil.)
160.000
140.000
120.000
100.000
80.000
60.000
40.000
20.000
0
Japan The US China S. Korea Australia UK Thailand Netherland
Jan Feb Mar Apr May Jun

In term of export sales, exports to Japan are not Japan, the US, China, EU) followed a similar trend.
significantly higher than the US, and these two Exports tend to increase gradually over the
markets still account for 17% of Vietnam’s seafood months, mostly to the highest level in May, then
export turnover, reaching US$713 million and slowdown in June.
US$706 million, respectively. Seafood exports to the EU in H1/2023 brought
Among the top 8 markets, exports to Japan in US$459 million, down 33% over the same
decreased by only 11%. This can be attributed to period in 2022. The EU accounted for 11% of
higher rates of value-added goods exported to Vietnam’s seafood export turnover. Exports
Japan compared to other countries and a larger to large and traditional markets in this block
proportion of processed goods for export. (Netherlands, Germany, Belgium, Italy, Spain,
Exports to Japan have experienced a decline, etc.) all decreased by 26-46% over the same
primarily shrimp, which saw a significant drop period. Inflation also caused the EU’s shrimp
of 29%. The reason behind this decrease is that import demand and prices to drop significantly,
Vietnam mostly export value added shrimp so Vietnam’s shrimp exports to this market fell by
products to Japan but inflation and slow 49%. Surprisingly, pangasius exports to the EU
economic growth in this market has hindered had a much smaller decrease than those to the
consumption and imports. Nevertheless, Japan US and China. Some markets in this bloc even
remains the largest marine products consumer increased their imports of pangasius; Germany
of Vietnam. Cephalopod exports to Japan saw a increased by 39%, Finland increased by 15 times,
slight increase of 3% in the first half of this year. and Lithuania. Pangasius exports to Sweden,
Exports of marine fish, including tuna and other Denmark all increased significantly. This has
species, only drop slightly by 1.5%. Export of other partly offset the decrease in exports sale to other
aquatic species surged impressively by 24%. markets in the bloc.
China is the third-largest market of Vietnam’s While exports to South Korea, Australia, and the
seafood export with a turnover of US$636 UK recovered slowly and had fewer breakthroughs
million, representing over 15% of the market compared to China, the EU, and the US, they
share. During the first half of this year, China-Hong also had more modest declines during the same
Kong emerged as the largest import market with period.
export sales of US$716 million. Many seafood Seafood exports to South Korea in the
producers had high hopes for the reopening of first 6 months of this year reached US$ 357
the Chinese economy to boost seafood exports million, down 21%. All key products exports
to this market. Consequently, there has been a to this market decreased compared to H1 2022.
“flood” of seafood supply, especially cheap shrimp Specifically, shrimp exports decreased by 28%,
from Ecuador and India, putting significant cephalopod dropped by 18%, marine products
competitive pressure on Vietnamese seafood. dropped by 8%.
However, the Chinese economy’s recovery has In the first half of this year, Vietnam’s seafood
been slower than expected due to the severe exports to CPTPP countries reached US$1.12
impact of Covid. People’s incomes have decreased, billion, down 22%. In the general trend of
the unemployment rate has risen, and domestic the world, export decline is unavoidable for all
production has stagnated, resulting in lower markets, including CPTPP countries. However,
import volume and prices of seafood compared compared to other major markets such as the US
to the same period last year. and EU (down 46% and 33% respectively), the
In general, exports to all major markets (especially CPTPP bloc still has better results.

VIETNAM SEAFOOD EXPORTS TO MAIN MARKETS
Shrimp: $236 mil.; - 29%, accounting for 33%

Cephalopod: $77 mil; + 3%; accounting for 11%
Marine fish: $342 mil; -1,5%; accounting for 48%
Other seafood: $57 mil; + 24%, accounting for 8%
Shrimp: $299 mil; - 38%, accounting for 42%
Tuna: $143mil; -52%; accounting for 20%
Pangasius: $141 mil; -60%; accounting for 20%
tHE uS Other seafood: $124 milSD; - 28%, accounting for 18%
Pangasius: $262 mil; - 35%, accounting for 41%

Shrimp: $239 mil; -19%; accounting for 38%
Cephalopod: $24 mil; -25%; accounting for 4%
cHINA
Other seafood: $110 mil; +2,5%, accounting for 17%

Cephalopod: $88 mil; 0%; accounting for 8%
Marine fish: $460 mil; - 8%, accounting for 41%
Shrimp: $193mil; - 49%, accounting for 42%
eu Tuna: $77 mil; 0%; accounting for 17%
Other seafood: $100 mil; - 18%, accounting for 22%

Cephalopod: $101 mil; -18%; accounting for 28%
Marine fish: $81 mil; -8%; accounting for 23%
s.KOREA Other seafood: $7.5 mil; -16%, accounting for 2%

3. Top seafood exporters
In H1/2023, most of Vietnam producers and a turnover of over US$131 million, accounting
exporters of aquaculture products such as shrimp for 3.16% of Vietnam’s seafood export value.
and pangasius suffered a decrease in sales due to Vinh Hoan Corp experienced a 43% decline in
difficulties in the domestic consumption market sales in the first half of this year, ranking second,
and production: orders decreased, average import accounting for 3.08% of seafood exports with a
prices fell, while production costs increased. turnover of nearly US$128 million. Next is Minh
Sales of leading shrimp companies such as Minh Phu Seafood Corp and Minh Phu - Hau Giang
Phu, Stapimex, CASES, FIMEX VN, and Thuan Seafood JSC.
Phuoc all decreased by 30% to 45%. Large Notably, Bien Dong Seafood fell from 7th place
pangasius companies like Vinh Hoan, Bien Dong, in 2022 to 17th in the first half of this year.
Navico, and I.D.I Corp also experienced a decline in Meanwhile, sales of Trung Son Corp increased
export value, falling by 18% to 60%. Export to the by 23.5% to nearly US$53 million in the first half
US has become challenging, causing companies of the year, bringing this company to the top 10
that primarily focus on this market to be severely largest seafood exporters for the first time. That
affected. shows, the difficulties of 2022-2023 have led to
The changing situation in 2023 has changed the flexible adjustment of structure and product
the position of many companies. Stapimex strategy and partners of Vietnamese seafood
has become the largest export company with processing and exporting enterprises.
Table 13. Top 5 Vietnamese seafood exporters, Jan- Jun/2023

No Company Value (US$ mil.) Proportion (%) Change (%)
1 STAPIMEX 131.331 3.16 -30.0
2 VINH HOAN CORP 127.963 3.08 -43.4
3 MINH PHU SEAFOOD CORP 100.606 2.42 -45.9
4 MINH PHU HAU GIANG SEAFOOD JSC 89.855 2.17 -37.0
5 CASES 86.429 2.08 -30.7
6 FIMEX VN 59.147 1.43 -31.1
7 NAVICO 55.829 1.35 -18.1
8 TRUNG SON HUNG YEN CORP 52.772 1.27 23.5
9 THUAN PHUOC CORP 50.315 1.21 -21.9
10 I.D.I CORP 48.597 1.17 -31.1

Table 14. Top 100 Vietnamese seafood exporters, Jan-Jun/2023

Value Proprotion Value (US$ Proprotion
No Company No Company
(US$ mil.) (%) mil.) (%)
1 STAPIMEX 131.331 3.16 52 NAM DUONG PHAT TRIEN CO., LTD 16.382 0.39
2 VINH HOAN CORP 127.963 3.08 53 KAIYO SEAFOOD JSC 16.281 0.39
3 MINH PHU SEAFOOD CORP 100.606 2.42 54 PHAT LOI MST CO., LTD 16.167 0.39
4 MINH PHU HAU GIANG SEAFOOD JSC 89.855 2.17 55 FATIFISHCO 16.161 0.39
5 CASES 86.429 2.08 56 HUY NAM SEAFOODS CO., LTD 15.979 0.39
6 FIMEX VN 59.147 1.43 57 SEAVINA 15.956 0.38
7 NAVICO 55.829 1.35 58 MINH DANG CO., LTD 15.100 0.36
8 TRUNG SON HUNG YEN CORP 52.772 1.27 59 BASEAFOOD 1 CO., LTD 15.083 0.36
9 THUAN PHUOC CORP 50.315 1.21 60 NGOC TRINH BAC LIEU SEAFOOD CO., LTD 15.040 0.36
10 I.D.I CORP 48.597 1.17 61 HIGHLAND DRAGON 14.806 0.36
11 TAIKA SEAFOOD CORP 47.484 1.14 62 CAFISH 14.518 0.35
12 VAN DUC TIEN GIANG FOOD EXPORT COMPANY 41.555 1.00 63 THONG THUAN - CAM RANH SEAFOOD JSC 14.350 0.35
13 VINA CLEANFOOD 40.629 0.98 64 CADOVIMEX II 14.326 0.35
14 C.P. VIETNAM CORP 37.704 0.91 65 HAVUCO 14.240 0.34
15 HAVICO 36.871 0.89 66 CASEAMEX 13.866 0.33
16 THONG THUAN CO., LTD (T&T) 34.385 0.83 67 AUSTRALIS AQUACULTURE VIETNAM LIMITED 13.575 0.33
17 BIENDONG SEAFOOD 33.635 0.81 68 VINA PRIDE SEAFOODS CO., LTD 13.248 0.32
18 HAI NAM CO.. LTD 32.684 0.79 69 TRANG THUY SEAFOOD CO., LTD 12.975 0.31
19 YUEH CHYANG CO 32.358 0.78 70 HOANG LONG SEAFOOD 12.807 0.31
20 DALU SURIMI IMPORT - EXPORT CO., LTD 30.207 0.73 71 A CHAU HOA THANH CO., LTD 12.312 0.30
21 SAIGON FOOD 30.050 0.72 72 GALLANT DACHAN SEAFOOD CO..LTD 12.277 0.30
22 NHATRANG SEAFOODS F17 30.019 0.72 73 SEA MINH HAI 12.219 0.29
V FINANCIAL AND INVESTMENT MTV LIMITED
23 GODACO 29.563 0.71 74 11.980 0.29
COMPANY
24 CAMIMEX CORP 28.871 0.70 75 MC SEAFOOD 11.802 0.28
25 DATHACO 28.544 0.69 76 HAI TRIEU CO., LTD 11.540 0.28
26 AHFISHCO 27.512 0.66 77 COCHI CO., LTD 11.438 0.28
27 NTSF SEAFOODS 27.437 0.66 78 HASUVIMEX 11.413 0.28
28 TG FISHERY 26.502 0.64 79 TRINITY VIETNAM CO., LTD 11.305 0.27
29 MARISO VIETNAM 26.225 0.63 80 DONG HAI SEAFOOD LIMITED COMPANY 10.975 0.26
30 TRUNG SON LONG AN CO., LTD 26.023 0.63 81 SEAPRIMEXCO VIETNAM 10.810 0.26
31 NHAT NGUYEN FOODS CO., LTD 25.608 0.62 82 QUANG MINH SEAFOOD CO., LTD 10.798 0.26
DRAGON WAVES FROZEN FOOD FACTORY
32 25.134 0.61 83 TRANG KHANH SEAFOOD CO.LTD 10.788 0.26
FOODS CO., LTD
33 AMANDA FOODS (VN) LTD 24.986 0.60 84 PTFOOD 10.691 0.26
34 TUNA VIETNAM 24.185 0.58 85 TRANS PACIFIC SEAFOOD CO., LTD 10.683 0.26
35 BIDIFISCO 24.125 0.58 86 VINH QUANG FISHERIES CORP 10.667 0.26
36 OCEAN GIFT FOODS 21.462 0.52 87 NIGICO CO.. LTD 10.453 0.25
37 PATAYA VIETNAM 20.845 0.50 88 CHAU BA THAO SEAFOOD CO., LTD 10.389 0.25
38 FRESCOL TUNA (VIET NAM) CO., LTD 20.668 0.50 89 SEANAMICO 10.252 0.25
39 CUULONG SEAPRO 20.472 0.49 90 HHFISH 10.229 0.25
40 TRUNG SON CORP 19.995 0.48 91 NHA TRANG BAY JSC 10.198 0.25
41 HUNGCA CO., LTD 19.407 0.47 92 BASEAFOOD 10.168 0.24
42 KHANG AN FOODS 18.853 0.45 93 TPS JSC 10.155 0.24
43 KHANH SUNG SEAFOOD 18.664 0.45 94 TITHICO 10.148 0.24
44 CAT TUONG PRIVATE ENTERPRISE 18.430 0.44 95 VD FOOD 9.866 0.24
45 HUNGCA 2 CORP 17.926 0.43 96 HAI TRI CORP 9.494 0.23
46 FAMISEA FOOD JSC 17.925 0.43 97 HOP TAN SEA FOOD CORP 9.480 0.23
47 GALLANT OCEAN (VIET NAM) 17.623 0.42 98 HASACO 9.470 0.23
AN KHANG THINH DEVELOPMENTAL
48 KIEN CUONG SEAFOOD 17.320 0.42 99 9.454 0.23
INVESTMENT CO., LTD
49 SVS 17.258 0.42 100 TAN KHOI SEAFOOD CO., LTD 9.334 0.22
50 SEAPRODEX DA NANG 16.951 0.41 OTHERS 1,673.219 40.32
51 FOODTECH JSC 16.425 0.40 TOTAL 4,150.229 100.00

IV. IMPORTS
In the first half of 2023, Vietnam’s seafood imports the import of raw material for processing and
reached nearly US$1.3 billion, a slight increase export to markets. Therefore, imports of whiteleg
of 3% over the same period last year. Some shrimp decreased by 6%, tuna decreased by 16%,
species with a higher import value than the same and squid decreased by 9%.
period in 2022 include: salmon increased by 25%, In the second quarter, seafood imports decreased
lobster increased by 71%, crab increased by 31%, by 12%, of which there was a sharp decrease in
cod increased by 18%, pollock increased by 85%, vannamei shrimp, tuna, squid, cod, etc. However,
and black tiger shrimp increased by 77%. This many species still had increased import value
reflects the increase trend of importing material such as salmon, lobster, mackerel, pollock, black
for processing and re-exporting while decrease tiger shrimp.
Table 15. Vietnam’s seafood imports, QI-QII/2023, by main products (US$ mil.)
Species (Top 20) QI/2023 Change (%) QII/2023 Change (%) Jan-Jun/2023 Change (%)
Total 665.641 22.4 609.410 -12.0 1.275.051 3.1
Tuna 127.894 -10.9 118.396 -20.8 246.289 -15.9
Salmon 116.035 43.1 100.807 9.3 216.842 25.1
Whiteleg shrimp 98.335 40.1 82.987 -32.9 181.322 -6.4
Squid 79.862 37.6 64.453 -35.6 144.315 -8.7
Lobster 22.113 19.3 28.641 156.3 50.755 70.8
Crab 20.313 54.7 16.906 9.1 37.220 30.0
Scad fish 17.443 -15.0 19.749 -8.6 37.193 -11.7
Cod 19.523 64.6 15.983 -12.7 35.506 17.7
Aquarium 19.934 61.3 14.297 -18.9 34.231 14.2
Mackerel 14.899 4.0 18.008 19.8 32.907 12.1
Pollock 10.825 151.1 12.503 51.3 23.328 85.5
Amberjack 10.772 14.1 8.050 9.0 18.822 11.8
Black tiger shrimp 8.865 104.4 8.019 54.0 16.884 76.9
Saba 8.617 -5.7 8.014 -5.7 16.631 -5.7
Octopus 7.527 7.8 6.472 -29.4 13.999 -13.3
Herring 3.376 1.9 9.665 22.3 13.042 16.3
Red shrimp 3.331 61.5 7.316 13.9 10.647 25.5
Scallop 6.036 48.5 4.466 -21.7 10.502 7.5
Abalone 4.519 3.2 4.081 -31.2 8.600 -16.6
Flounder 5.123 226.7 2.147 -4.3 7.270 90.7
India was still the largest supplier, accounting second quarter and tended to be lower than in
for 14% with nearly US$177 million. While the first quarter.
imports from India in the first quarter increased China is the third largest supplier with an import
by 94%, in the second quarter, it decreased turnover of nearly US$107 million, accounting
by 28%, showing weak consumption in many for 8%, slightly down 3% over the same period.
markets. The second largest supply was Norway, Other suppliers including Indonesia and Japan
accounting for 11% with nearly US$137 million, all reduced their export value to Vietnam in the
up 14% over the same period. The value of first half of this year.
imports from Norway also decreased in the

Table 16. Vietnam’s seafood imports, by suppliers, QI-QII 2023 (US$ mil.)
Jan-Jun Proportion
Suppliers QI/2023 Change (%) QII/2023 Change (%) Change (%)
2023 (%)
Indian 108.378 93.7 68.273 -28.4 176.651 16.7 14
Norway 70.072 35.3 66.678 -2.6 136.750 13.7 11
China 55.483 28.0 51.307 -23.3 106.790 -3.1 8
Indonesia 61.166 31.7 38.087 -48.6 99.253 -17.7 8
Japan 38.635 -19.6 42.523 -0.7 81.158 -10.7 6
Chile 36.244 130.0 39.620 49.8 75.865 79.8 6
Taiwan 32.774 -25.7 32.901 -36.9 65.675 -31.7 5
Russia 37.529 22.4 23.185 -34.8 60.714 -8.3 5
South Korea 22.510 -28.7 30.644 -4.9 53.153 -16.7 4
Australia 27.215 21.6 23.891 289.5 51.107 79.2 4
US 14.106 47.4 19.198 52.7 33.304 50.4 3
Ecuador 12.271 -54.9 18.998 -48.3 31.270 -51.1 2
Philippines 8.133 -11.6 10.581 114.4 18.714 32.4 1
UK 6.994 514.6 10.034 150.7 17.028 231.2 1
Argentina 4.111 56.9 12.195 -8.6 16.307 2.2 1
Micronesia 11.368 -33.1 4.499 -27.2 15.866 -31.5 1
Malaysia 4.734 -4.5 10.854 192.9 15.588 79.9 1
Thailand 6.693 6.6 8.793 -31.3 15.486 -18.8 1
Denmark 9.036 135.9 4.938 -25.0 13.974 34.2 1
Canada 5.650 31.6 8.090 23.5 13.740 26.7 1

CHAPTER II:
SHRIMP PRODUCTION AND EXPORTS

CHAPTER II: SHRIMP PRODUCTION AND EXPORTS
I. OVERVIEW
In the first 6 months of 2023, Vietnam’s shrimp has hit the bottom and is beyond the tolerance
exports reached US$1.5 billion, down 32% of farmers in all shrimp farming powers. Shrimp
over the same period of last year. The decline in farmers and businesses are expecting positive
the seafood exports was due to lower market signals for shrimp production and export
demand, lower price of raw material shrimp activities in the second half of this year.
and export shrimp, soaring inflation, and Previously, the beginning of the third quarter
strong competition with rival suppliers posed was usually the peak of shrimp harvest in
challenges for Vietnam’s shrimp exports in the Vietnam and India. Particularly, Indonesia and
first half of this year. Ecuador harvest the main crop earlier. But this
The Covid pandemic and Russia-Ukraine war led year, the farming area has decreased and the
to consumers’ austerity policies. Shrimp demand end of the crop is expected, so the supply of raw
decreases while global shrimp supply increases, and commercial shrimp will decrease. Therefore,
especially from Ecuador and India. in the third quarter, distribution systems may
consider to increase purchasing for inventory.
Indonesia and Ecuador harvested shrimp early
Moreover, the consumption for Christmas and
with the success in both quantity and size,
New Year celebration also are optimistic signs for
competing with Vietnamese shrimp. These
the shrimp sector in the second half of the year.
countries are also supplying at a lower price of
US$1-2/kg than Vietnamese shrimp from. This Export value also showed more positive signals.
made it difficult for shrimp exporters to find In June 2023, shrimp exports reached US$328
orders. Meanwhile, the domestic price of raw million, down 21% compared to the same period
shrimp has decreased continuously in recent in 2022. The decrease of 21% in June was lower
months, causing many consequences for the than the decrease in previous months (export
whole shrimp sector. value in March, April, and May recorded the
reduction of 28-35%).
According to experts, the world shrimp price

II. PRODUCTION
1. Farming area and output:
According to data from the Department of The output of brackishwater shrimp in the first
Fisheries, the brackish water shrimp farming 6 months of 2023 reached about 467 thousand
area in the first 6 months of 2023 reached about MT, up 4.1% over the same period in 2022 (448
656 thousand ha, an increase of 6.4% over the thousand MT), of which the output of black tiger
same period in 2022 (617 thousand ha), of which shrimp reached 119.3 thousand MT (up 1.2%)
the area for raising black tiger shrimp was 605 and whiteleg shrimp reached 315.2 thousand MT
thousand ha, whiteleg shrimp farming area was (up 5.2%).
51 thousand ha.
2. The raw shrimp price

According to price data of Seabina Group, in the VND109,250/kg in January 2023 to VND95,000/
first 6 months of 2023, the price of raw whiteleg kg in June 2023, the price of shrimp size 100 pcs/
shrimp in Vietnam decreased sharply compared kg decreased from VND88,500/kg to VND83,000/
to the same period in 2022. The price decreased kg.
continuously from the first months of the year
until June this year.
The lower price was due to the companies’
lower demand for raw shrimp amid slide in
consumption demand from markets. Besides,
the higher domestic and global supply of raw
shrimp was also the reason for the slide in shrimp
price.
The price of whiteleg shrimp size 40 pcs/kg
decreased from VND138,500/kg in January 2023
to VND103,000/kg in June 2023, the price of
whiteleg shrimp size 60 pcs/kg decreased from
Fig 2.

Fig 3.
Fig 4.
In the first half of 2023, the price of black tiger shrimp also recorded a continuous decrease from the
beginning of the year, the price of shrimp count 30 pcs/kg decreased from VND185,000/kg in January
to VND145,000/kg in June. The price of shrimp count 50 pcs/kg decreased from VND138,750/kg in
January to VND115,000/kg in June, the price of shrimp count 60 pcs/kg decreased from VND133,750/
kg in January to VND115,000/kg in June.
Fig 5.

Fig 6.
Fig 7.
III. EXPORTS
1. Products
Whiteleg shrimp accounted for 74% of total sharply by 132% - 2,352% over the same period
shrimp export value with over US$1.15 billion in in 2022.
the first half of this year, down 32% over the same While frozen and processed black tiger shrimp
period of last year. Black tiger shrimp accounted and whiteleg shrimp decreased over the
for 15% with US$227 million, down 28%. Some same period, the demand for dried shrimp,
shrimp species reporting increase in export value dried marine baby shrimp and canned shrimp
includes marine baby shrimp (up 9%), crayfish increased, so export turnover increased by 56%
(up 27%), brown shrimp increased by 9%, green and 39%, respectively.
tiger prawn and greasyback shrimp increased

Tab 17. Vietnam shrimp products for exports, Jan - Jun 2023 (US$ mil.)
Jan - Jun 2023
No Products Proportion (%) Change (%)
(US$ mil.)
Whiteleg shrimp 1,145.062 74.0 -32.0
1 incl: - Processed whiteleg shrimp (HS code 16) 486.173 -34.7
- Frozen/fresh whiteleg shrimp (HS code 03) 658.889 -29.9
Black tiger shrimp 227.134 14.7 -28.1
2 incl: - Other processed black tiger shrimp (HS code 16) 22.415 -47.5
- Frozen/fresh black tiger shrimp (HS code 03) 204.719 -25.0
Other shrimp 174.188 11.3 -35.4
incl: - Canned other shrimp (HS code 16) 1.028 39.1
3 - Other processed other shrimp (HS code 16) 81.801 -18.0
- Dried other shrimp (HS code 03) 15.072 56.0
- Frozen/fresh other shrimp (HS code 03) 76.287 -52.2
Total (1+2+3) 1,546.384 100.0 -31.9
Source: VASEP (based on Vietnam Customs)
Fig 8. Vietnam shrimp exports, by species, Fig 9. Vietnam shrimp exports, by species,
Jan-Jun, 2022 (Value) Jan-Jun, 2023 (Value)
12% 14% 11% 74%
74% 15%
Black tiger shrimp Whiteleg shrimp Other shrimp Black tiger shrimp Whiteleg shrimp Other shrimp
Tab 18. Shrimp products for exports, by species

Products Jan - Jun 2022 (USD) Jan - Jun 2023 (USD) Change (%)
Whiteleg shrimp 1,684,610,336 1,145,061,786 -32.0
Black tiger shrimp 315,693,291 227,134,266 -28.1
Other shrimp 115,805,387 98,445,266 -15.0
Lobster 119,728,550 46,088,909 -61.5
Red shrimp 11,698,484 9,243,797 -21.0
Krill shrimp 7,968,949 8,690,853 9.1
Crayfish 2,508,680 3,198,485 27.5
Cat tiger shrimp 5,955,436 2,880,216 -51.6
Pink shrimp 1,298,598 747,157 -42.5
Baby shrimp 753,682 730,043 -3.1
Giant Freshwater prawn 1,907,325 696,037 -63.5
Brown shrimp 611,597 671,191 9.7
Green tiger prawn 271,587 630,942 132.3
Greasyback shrimp 24,461 599,879 2,352.4
Fine Shrimp Sauce 747,040 559,258 -25.1
Ornate rock lobster 555,460 4,312
Mantis shrimp 320,301 300,546 -6.2
Slipper lobster 140,082
Other marine shrimp 582 10,129 1,640.4
Total 2,269,904,288 1,546,384,303 -31.9

2. Markets
As of June 2023, Vietnam exported its shrimp to 91 markets, from 93 markets in the same period last
year.
Tab 19. Vietnam shrimp exports to markets, QII/2023 (US$ mil.)

Change Change Change Change
Markets Apr 2023 May 2023 Jun 2023 QII/2023
(%) (%) (%) (%)
CPTPP 73.546 -34.8 78.077 -30.3 78.756 -31.8 230.379 -32.3
Japan 40.736 -25.6 45.594 -24.5 44.495 -34.5 130.825 -28.5
Australia 22.047 -13.9 18.038 -18.2 20.357 9.0 60.442 -8.9
Canada 6.678 -75.9 9.432 -62.8 10.149 -56.6 26.258 -65.7
Singapore 2.847 38.9 2.270 -12.8 1.950 -30.2 7.068 -5.1
The US 55.410 -42.5 68.013 -31.1 71.232 -23.5 194.655 -32.5
China & HK 62.804 -22.4 77.715 -11.5 66.851 15.7 207.370 -8.4
Hong Kong 7.202 15.7 6.905 -5.1 7.648 -5.2 21.754 0.9
EU 29.742 -55.5 34.387 -55.6 39.746 -46.5 103.874 -52.5
Germany 6.876 -53.2 7.412 -62.8 9.644 -50.5 23.933 -55.7
Netherland 7.261 -57.7 9.280 -52.8 8.665 -51.1 25.206 -53.8
Belgium 5.307 -65.9 6.450 -61.0 9.675 -39.6 21.432 -55.5
France 3.268 -46.3 2.831 -48.0 4.338 -27.5 10.437 -40.4
South Korea 27.208 -42.2 30.701 -27.5 30.438 -20.6 88.347 -30.8
The UK 16.787 1.7 15.317 -21.3 19.979 23.2 52.083 -0.2
Taiwan 6.335 -12.2 9.611 140.4 6.779 19.8 22.724 34.7
Switzerland 2.520 15.6 3.914 70.1 3.867 86.4 10.301 57.1
Others 12.376 0.4 12.986 0.8 11.335 -12.8 36.697 -3.9
Total 286.727 -35.2 330.720 -27.6 328.984 -20.9 946.431 -28.0
Tab 20. Vietnam shrimp exports to markets, QI-QII/2023 (US$ mil.)

Markets QI/2023 Change (%) QII/2023 Change (%) Jan - Jun 2023 Change (%)
CPTPP 182.230 -37.6 230.379 -32.3 412.609 -34.7
Japan 105.431 -29.5 130.825 -28.5 236.256 -29.0
Australia 47.749 -31.5 60.442 -8.9 108.191 -20.5
Canada 18.820 -68.6 26.258 -65.7 45.078 -67.0
Singapore 4.984 -8.9 7.068 -5.1 12.053 -6.7
The US 104.037 -46.5 194.655 -32.5 298.692 -38.1
China & HK 73.220 -31.0 207.370 -8.4 280.590 -15.7
Hong Kong 19.473 21.7 21.754 0.9 41.227 9.7
EU 89.042 -44.1 103.874 -52.5 192.917 -48.9
Germany 22.347 -41.9 23.933 -55.7 46.280 -50.0
Netherland 16.864 -62.5 25.206 -53.8 42.070 -57.7
Belgium 15.475 -51.6 21.432 -55.5 36.907 -53.9
France 8.906 -39.9 10.437 -40.4 19.343 -40.1
South Korea 78.066 -24.6 88.347 -30.8 166.413 -28.0
The UK 37.128 -25.2 52.083 -0.2 89.211 -12.4
Taiwan 9.808 -20.7 22.724 34.7 32.533 11.3
Switzerland 4.933 -24.7 10.301 57.1 15.233 16.2
Others 21.489 -30.3 36.697 -3.9 58.186 -15.7
Total 599.953 -37.2 946.431 -28.0 1,546.384 -31.9

In June 2023, shrimp exports to major markets digit positive growth was also seen in exports to
such as the US, Japan, EU, and South Korea the UK (up 23%), Taiwan (up 20%), Switzerland
continued to report double-digit decrease. (up 86%).
Notably, exports to China & HK recorded positive The US, China & HK and Japan continued to be
growth for the first time since the beginning of 3 largest importers of whiteleg shrimp from
this year. In June 2023, exports to some small Vietnam in the first half of this year. China & HK,
markets recorded positive growth over the same Japan and the US are the 3 biggest importers of
period last year such as Australia up 9%. Double- black tiger shrimp from Vietnam.
Tab 21. Top 10 import markets for Vietnam black tiger shrimp, Jan - Jun 2023
No Markets Value(US$ mil.) No Markets Value(US$ mil.)
1 China & HK 71.025 6 Germany 9.795
2 Japan 42.282 7 Canada 7.695
3 The US 29.680 8 South Korea 6.396
4 Taiwan 15.480 9 Belgium 6.361
5 Switzerland 10.837 10 The Netherlands 5.683
Tab 22. Top 10 import markets for Vietnam whiteleg shrimp, Jan - Jun 2023
No Markets Value(US$ mil.) No Markets Value(US$ mil.)
1 The US 257.200 6 The UK 77.862
2 China & HK 153.997 7 Germany 35.281
3 Japan 150.101 8 Canada 34.445
4 South Korea 139.888 9 The Netherlands 33.008
5 Australia 102.277 10 Belgium 28.258

Fig 10. Vietnam shrimp exports, by markets, Fig 11. Vietnam shrimp exports, by markets,
Jan-Jun 2022 (Value) Jan-Jun 2023 (Value)
The US China&HK
21,3% China&HK 18,1%
14,7% The US
19,3% The UK
The UK
4,5% 5,8%
S.Korea
10,2% Others
Others 6,9%
4,9%
S.Korea
EU CPTPP 10,8%
16,6% 27,8% EU
12,5% CPTPP
26,7%
2.1. The US
According to Vietnam Customs, Vietnam’s shrimp US$257 million, down 40% over the same period;
exports to the US in the first 6 months of 2023 Black tiger shrimp accounted for 9.9% with
reached US$299 million, down 38% over the an export value of nearly US$30 million, down
same period of last year. In June 2023, shrimp 22%, and other shrimp with the export value of
exports to the US decreased by 23%, the lowest US$12 million, down 26% over the same period.
decrease since the beginning of the year. The In the first half of this year, like other markets,
export value of Vietnamese shrimp to the US in shrimp exports to the US dropped sharply due
June 2023 reached more than US$71 million USD, to high inflation, consumers saved money,
the highest since the beginning of this year. It isswitched to cheaper food. Inventories are still
expected that low shrimp price in the US have high, so US importers are worrying about falling
touched the bottom and shrimp consumption prices, so they do not dare to buy. Inventory is
for the year-end festivals will increase. high, storage costs are high, producing countries
In the structure of Vietnamese shrimp products are in the harvest season, supply increases,
exported to the US in the first half of this year, shrimp price decreases.
whiteleg shrimp accounted for 86.1%, reaching
Tab 23. Vietnam shrimp products exported to the US, Jan - Jun 2023 (US$ mil.)
Jan - Jun 2023 Proportion
No Products Change (%)
(US$ mil.) (%)
Whiteleg shrimp 257.200 86.1 -40.0
Other shrimp 11.812 4.0 -25.9
incl: - Other processed other shrimp (HS code 16) 10.907 -24.4
3 - Dried other shrimp (HS code 03) 0.323 -51.6
Total (1+2+3) 298.692 100.0 -38.1

Fig 12. Vietnam’s shrimp exports to the US, Jan-Jun 2023

US$ mil. %
120 0
100 -10
-23 -20
80 -31
-32 -30
60 -39
-43
-40
40
-50
20 -60
-65
0 -70
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2022 2023 Growth (%)
Tab 24. Top 10 shrimp exporters of Vietnam to US, Jan - Jun 2023
No Companies Proportion in value (%)
1 STAPIMEX 31.3
2 THONG THUAN CO., LTD (T&T) 8.7
3 MINH PHU SEAFOOD CORP. 6.6
4 VINA CLEANFOOD 6.5
5 MINH PHU HAU GIANG SEAFOOD JSC 5.7
6 CUULONG SEAPRO. 5.1
7 TAIKA SEAFOOD CORPORATION 4.6
8 FIMEX VN 4.2
9 THUAN PHUOC CORP 3.6
10 CAFISH 3.2
Source: VASEP (for reference)
Fig 13. The average price of frozen shrimp exported to the US, Jan 2022-Jun 2023 (US$/kg)
30
25 27.6
20 20.6 22.2 22.2 22.1 20.6 20.3 20.6 20.5 20.7 20.3 19.9 19.7 19.8 21.6
18.1 16.3 17.9 15.7
15
10 11.7 11.9 11.8 12.1 12.3 12.5 12.4 12.6 12.1 11.6 11.3 11.1 11.2 11.8 11.1 10.4 10.6
05
00
Whiteleg shrimp Black tiger shrimp
According to FAS.USDA data, shrimp imports into lower than the same period but 2% higher than
the US in the first 5 months of this year reached the average price in April.
299,778 MT, worth by US$2.5 billion, down 18% in The US imports shrimp from 35 different countries,
volume and 28% in value over the same period last of which India, Ecuador and Indonesia are still the
year. The downward trend in imports is expected main shrimp suppliers. The top 10 shrimp suppliers
to continue for at least the next three months. The to the US all recorded a decrease, excluding
average import price in May was US$8.39/kg, 13%

Canada. Among the top 4 main suppliers, Vietnam bottomed out. Shrimp consumption for year-end
recorded the deepest decrease, Ecuador only festivals is also expected to increase. The supply
decreased slightly. of ships and containers is in a favorable state for
exporters. According to the collected data, it is
In the context of general difficulties of the seafood
estimated that the amount of non-cultivated
export industry, the Vietnamese Government is
ponds in India ranges from 30% to 50%; In Ecuador,
taking steps to promote production and exports.
EI Nino is causing damage to about 30% of the
Cold storage in the US is dwindling, US importers,
farming area, the amount of shrimp will decrease.
retailers and wholesalers start to consider
These can be considered as the basis for a more
increasing imports again. This will drive shrimp
optimistic forecast of shrimp exports to the US in
price to rise and it looks like shrimp price have
the 3rd quarter of this year.
Tab 25. Top 10 shrimp suppliers to the US, Jan - May 2023
(Source: FAS.USDA) (Volume: MT, Value: 1,000 USD)
2022 Jan - May 2022 Jan - May 2023 Change (%)
Suppliers
Value Volume Value Volume Value Volume Value Volume
Total 7,837,288 842,108 3,475,275 363,495 2,487,085 299,778 -28 -18
India 2,774,428 304,106 1,140,926 120,520 862,825 106,033 -24 -12
Indonesia 1,580,878 166,923 821,599 85,386 522,472 64,279 -36 -25
Ecuador 1,508,258 199,875 643,868 82,948 550,721 81,707 -14 -1
Vietnam 815,889 70,753 337,319 29,768 189,062 17,568 -44 -41
Thailand 458,421 38,366 191,320 16,449 111,616 8,966 -42 -45
Mexico 277,802 20,983 144,576 9,263 105,081 7,583 -27 -18
Argentina 200,640 16,434 97,286 8,298 73,357 5,552 -25 -33
Peru 37,159 3,919 21,195 2,163 7,615 836 -64 -61
China 31,313 5,366 14,713 2,556 10,029 1,730 -32 -32
Canada 25,505 2,433 6,917 535 8,193 702 18 31
Frozen peeled farmed shrimp (HS code 0306170041) along the value chain, develop farming models to
and frozen processed peeled shrimp (HS 1605211030) help reduce product costs. Keep full records of the
are the most imported products to the US. In the first production process to serve the on-site verification
5 months of 2023, imports of frozen peeled farmed of US authorities. In addition, it is necessary to
shrimp into the US decreased slightly more than that understand federal and state regulations and
of frozen processed peeled shrimp products. requirements, improve processing content, and
diversify products (flour coated shrimp, instant
Shrimp exporters to the US need to increase links
noodles, tempura...).
Tab 26. Top 10 shrimp products imported into the US, by HS code, Jan - May 2023
(Source: FAS.USDA) (Volume: MT, Value: 1,000 USD)
2022 Jan - May 2022 Jan - May 2023 Change (%)
Products
Value Volume Value Volume Value Volume Value Volume
Total 7,837,288 842,108 3,475,275 363,495 2,487,085 299,778 -28 -18
0306170041 - FRM
3,207,293 354,603 1,391,857 147,795 1,072,518 137,267 -23 -7
SHP PLD FZ
1605211030 - SHRIMP/
1,406,882 126,594 604,452 53,858 385,681 38,485 -36 -29
PRAWN P/F
1605211020 - SHRIMP/
567,213 70,924 257,210 33,636 180,286 23,106 -30 -31
PRAWN B/F

0306170007 - FRM
479,625 55,320 225,913 24,717 146,240 19,547 -35 -21
SHP FZ=46-55
0306170004 - FRM
346,024 24,679 130,836 9,337 123,434 9,596 -6 3
SHP FZ<33KG
0306170005 - FRM
316,814 32,130 157,249 14,995 102,261 12,816 -35 -15
SHP FZ=33-45
0306170010 - FRM
304,606 44,987 142,468 19,871 101,438 17,162 -29 -14
SHP FZ=67-88
0306170008 - FRM
273,438 34,335 118,196 14,209 82,729 11,900 -30 -16
SHP FZ=56-66
0306170042 - SHRP/
174,369 15,187 80,277 7,129 52,928 4,098 -34 -43
PR PLD FZ
0306170017 - SHP/PR
127,730 6,869 64,400 3,296 54,962 2,867 -15 -13
FZ <33KG
2.2. The EU
In the first 6 months of this year, the EU market
imported US$193 million of shrimp from
Vietnam, down 49% over the same period of
2022. Monthly shrimp exports to the EU from
March to June this year recorded a decrease of
over 40% (down from 41%-56%) and showed no
sign of recovery.
The Russia-Ukraine war, tightening of consumer
spending, depreciation of the euro were the
reasons for slow consumption demand in this
market. People choose cheap food, smaller
shrimp. Importers limit their purchases and try to
sell to clear inventory and limit losses.
In the EU market, Vietnamese shrimp competes market in the middle market segments of
strongly with Ecuador due to the abundant processed products. In this market, Vietnamese
supply of raw material from Ecuador at good shrimp retains the advantage in the high-end
price. Ecuadorian shrimp dominates the EU segment.
Fig 14. Vietnam’s shrimp exports to the EU, Jan-Jun 2023

US$ mil. %
100 0
80 -10
-20
60
-30
40 -35 -41
-46 -40
20 -55 -55 -56 -50
0 -60
2022 2023 Growth (%)

Tab 27. Vietnam shrimp products exported to the EU, Jan - Jun 2023 (US$ mil.)
(US$ mil.) (%)
Other shrimp 13.075 6.8 -35.1
incl: - Canned other shrimp (HS code 16) 0.834 48.1
- Other processed other shrimp (HS code 16) 11.227 -35.9
3
- Dried other shrimp (HS code 03) 0.177 2.1
Total (1+2+3) 192.917 100.0 -48.9
In the structure of shrimp products exported to the EU, whiteleg shrimp accounted for 80% while
black tiger shrimp accounted for 13%, the rest was other shrimp. The export value of vannamei and
black tiger shrimp products to the EU recorded a double-digit decrease. Only the export value of
other canned shrimp and other dried shrimp recorded positive growth.
Tab 28. Top 10 Vietnam shrimp exporters to Germany, Jan - Jun 2023
1 THONG THUAN CO., LTD (T&T) 13.5
3 THONG THUAN - CAM RANH SEAFOOD JSC 10.9
4 CASES 7.0
5 SEANAMICO 5.7
6 VINA CLEANFOOD 5.3
7 CAMIMEX 4.9
8 STAPIMEX 4.2
9 CUULONG SEAPRO. 4.1
10 THUAN PHAT BL CO. LTD 4.0
The EU market has a fairly large high-end market whiteleg shrimp exported to Germany ranged
segment. In addition, the EU requires careful from US$7.3-8.5/kg. The average price of black
control of the importer’s product chain. Currently, tiger shrimp exported to this market ranged
shrimp farming facilities meeting ASC standards from US$7.1-15.3/kg. The average export price
in Vietnam are still low compared to the total of frozen vannamei shrimp to Germany tends to
farming area. However, compared to rival decrease compared to the same period in 2022. In
countries, deep processed shrimp penetrating the first half of this year, the average export price
into large and high-end distribution systems is of vannamei shrimp decreased continuously
still Vietnam’s strength. from January to June, the average price of frozen
black tiger shrimp was not stable.
In the first half of 2023, the average price of

Fig 15. The average price of frozen shrimp exported to Germany, Jan 2022 - Jun 2023 (US$/kg)
20
15 15.3
13.0 13.2 13.5 13.1 10.8 10.5 12.6 13.0 13.2
10
11.6 11.6 11.2 12.3 11.4 6.9 10.4
9.9 9.7 9.7 9.2 9.5 9.4 10.0 9.5 9.3 9.1 9.3 9.6
8.5 8.0 8.3 7.9 7.3
7.1
5 7.1
In the context of decreasing import demand and Tab 29. Shrimp imports into some main markets in EU
increasing competition from rival suppliers such (Value:US$ thousand, Source: ITC)
as Ecuador and India in the EU market, besides Jan - Apr Jan - Apr Change
Markets
2022 2023 (%)
diversifying markets, enterprises need to diversify France 403,720 328,449 -18.6
both products and supply chains, focus on Spain 430,954 389,917 -9.5
researching and producing products that the EU Germany 270,504 221,943 -18.0
market needs. Portugal 84,545 83,441 -1.3
Greece 38,711 35,697 -7.8
According to ITC data, as of April 2023, the top 4 Ireland 16,436 16,446 0.1
main shrimp import markets in the EU are Spain, Estonia 6,775 12,259 80.9
Czech Republic 10,668 10,862 1.8
France, Germany and Portugal. Shrimp imports
Lithuania 6,361 7,193 13.1
into Spain and Portugal only decreased slightly Latvia 4,626 4,117 -11.0
while shrimp imports into France and Germany
decreased more sharply.
2.3. Japan
The Japanese market imported US$236 million that, in the first 5 months of this year, Japan
of Vietnamese shrimp in the first 6 months of this sharply increased imports of black tiger shrimp
year, down 29% over the same period of last from India.
year. Vietnam’s shrimp exports to Japan in June Vietnam’s shrimp exports to Japan in the first
2023 decreased by 35% - the deepest decrease months of this year still faced difficulties due to
since March this year. the sharp depreciation of the yen. By early July
In the Japanese market, Vietnamese shrimp also 2023, the yen had fallen too sharply, above 145
have to compete with Indian and Ecuadorian yen per dollar, making it difficult to consume
shrimp. According to data of the World Trade shrimp in this market because the selling price
Center (ITC), in the first 4 months of this year, had to fall in line with the yen’s decline.
while total shrimp imports into Japan decreased Of the three main groups of shrimp products
by 10%, imports from the largest supplier of exported to Japan, vannamei accounted for
Vietnam also recorded a decrease. Japan still 63.5%, black tiger shrimp accounted for 17.9%,
increased imports from India and Ecuador with the rest was other shrimp with 18.6%. Unlike
the respective growth of 44% and 49%. Data other markets, Japan’s share of other shrimp
from the Indian Ministry of Commerce shows exports is higher than that of black tiger shrimp.

The export value of whiteleg shrimp to Japan Many exporters aim to boost exports to Japan this
in the first half of 2023 reached US$150 million, year thanks to stable demand and better profit
down 26%, the export value of black tiger shrimp margins in Japan due to the high proportion of
decreased by 45% to US$42 million. Notably, deep processed products. Vietnamese processed
other shrimp exports to Japan increased to shrimp products exported to Japan retain its
US$44 million, down 15%. advantage over other markets.
Fig 16. Vietnam’s shrimp exports to Japan, Jan - Jun 2023
US$ mil. %
80 0
70
-17 -10
60
50 -21 -26 -25 -20
40
-35 -30
30
20
-40
10 -47
0 -50
2022 2023 Growth (%)
Tab 30. Vietnam shrimp products exported to Japan, Jan - Jun 2023 (US$ mil.)
(US$ mil.) (%)
Other shrimp 43.872 18.6 -15.1
incl: - Other processed other shrimp (HS code 16) 23.340 -29.2
3 - Dried other shrimp (HS code 03) 1.888 14.3
- Frozen/fresh other shrimp (HS code 03) 18.645 9.4
Total (1+2+3) 236.256 100.0 -29.0
Tab 31. Top 10 Vietnam shrimp exporters to Japan, Jan - Jun 2023
1 FIMEX VN 12.6
2 HAVICO 10.8
3 MINH PHU SEAFOOD CORP. 9.3
5 DONG HAI SEAFOOD 4.5
7 SEADANANG 4.0
8 TAIKA SEAFOOD 3.9
9 COCHI CO., LTD. 3.9
10 NIGICO 2.8

In the first half of 2023, the average export price of frozen whiteleg shrimp from Vietnam to Japan ranged
from US$6.5 - 10.3/kg. The average price of frozen black tiger shrimp exported to Japan ranged from
US$14.1-17.7/kg.
Fig 17. The average price of frozen shrimp exported to Japan, Jan 2022-Jun 2023 (US$/
kg)
20
17.7
15.8 14.9 14.7 15.5 15.0 14.5 15.4 15.5 15.3 14.1 15.3
15 13.8 14.6 15.1 10.8 15.3 14.8
10 10.1 10.6 10.4 10.4 10.3 10.3 10.3 10.3 10.2 10.2 10.3 9.7 10.2 9.8 9.7
8.4
05 5.1 6.5
00
Tab 32. Top shrimp suppliers to Japan, Jan - Apr 2023

(Value: 1,000 USD, Source: ITC)
Suppliers Jan - Apr 2022 Jan - Apr 2023 Change (%)
Total 678,882 610,264 -10.1
Vietnam 174,872 141,522 -19.1
Thailand 121,288 108,226 -10.8
Indonesia 130,901 108,453 -17.1
India 63,556 91,649 44.2
China 32,422 24,585 -24.2
Argentina 44,937 34,854 -22.4
Ecuador 9,193 13,719 49.2
Russia 15,951 13,940 -12.6
Greenland 10,720 11,055 3.1
Canada 14,089 16,244 15.3
Tab 33. Shrimp products imported into Japan, Jan - Apr 2023
Jan - Apr Jan - Apr Change
HS code Products
2022 2023 (%)
Total 678,882 610,264 -10.1
Frozen shrimps and prawns, even smoked, whether in shell or not, incl. shrimps
030617 402,808 363,569 -9.7
and prawns in . . .
Shrimps and prawns, prepared or preserved, not in airtight containers
160521 224,323 195,886 -12.7
(excluding smoked)
"Frozen cold-water shrimps and prawns "Pandalus spp., Crangon crangon",
030616 35,031 33,610 -4.1
even smoked, whether . . .
Shrimps and prawns, whether in shell or not, dried, salted, smoked or in brine,
030695 6,901 6,017 -12.8
incl. ones . .
030632 Lobsters ""Homarus spp."", whether in shell or not, live, fresh or chilled" 5,320 4,794 -9.9
Frozen Norway lobsters ""Nephrops norvegicus"", even smoked, whether in
030631 1,006 1,283 27.5
shell or not, incl. . . .
Shrimps and prawns, prepared or preserved, in airtight containers (excluding
160529 1,787 1,553 -13.1
smoked)
Shrimps and prawns, whether in shell or not, live, fresh or chilled (excl. cold-
030636 743 480 -35.4
water shrimps .
"Frozen lobsters ""Homarus spp."", even smoked, whether in shell or not, incl.
030612 847 3,072 262.7
lobsters in . . .
(VASEP tổng hợp, số liệu mang tính chất tham khảo)

Vietnam and Japan are both members of four bilateral and multilateral free trade agreements (FTAs):
The Vietnam-Japan Economic Partnership Agreement (VJEPA), the Regional Comprehensive Economic
Partnership (RCEP), the ASEAN-Japan Comprehensive Economic Partnership (AJCEP) and the Comprehensive
and Progressive Agreement for Trans-Pacific Partnership (CPTPP). This is also a support for Vietnam’s shrimp
exports to Japan in the comming time.
2.4. South Korea

In the first 6 months of this year, Vietnam’s shrimp Like Japan, shrimp exports to South Korea has the
exports to the Korean market reached US$166 advantage of close geographical location, stable
million, down 28% over the same period of consumption demand. From now to the end of the
2022. In June this year, Vietnam’s shrimp exports year, it is expected that demand will not fluctuate
to South Korea decreased by 21% over the same much and increase slightly to serve the year-end
period last year. occasion.
High inflation, currency devaluation, rising interest Korea imported a lot of whiteleg shrimp from
rates, the people’s spending tightening, and high Vietnam with the proportion accounting for 84%,
inventory were the reasons why shrimp exports to black tiger shrimp exported to Korea accounted
this market decrease. In the first half of this year, for only 4%, the rest was other shrimp with 12%.
the value of shrimp exported to Korea did not In the first half of 2023, whiteleg shrimp exports
fluctuate as much as other markets. to South Korea decreased more sharply than black
Fig 18. Vietnam’s shrimp exports to S.Korea, Jan - Jun 2023
US$ mil. %
60 0
50 -12 -10
-21
40
-24 -27 -20
30
-30
20
-39 -42
10 -40
0 -50
2022 2023 Growth (%)
Tab 34. Vietnam shrimp products exported to South Korea, Jan - Jun 2023 (US$ mil.)
(US$ mil.) (%)
2 incl: - Other processed black tiger shrimp (HS code 16) 4.714 1.7
Other shrimp 20.129 12.1 -14.9
incl: - Other processed other shrimp (HS code 16) 16.367 2.9
3 - Dried other shrimp (HS code 03) 2.728 -10.7
Total (1+2+3) 166.413 100.0 -28.0

tiger shrimp with an export value of US$140 regulations on import quota.

million, down 30% over the same period of last
The Korean Government requested an auction to
year. Notably, exports of processed black tiger
buy shrimp import quotas from Vietnam into the
shrimp showed signs of 2% increase in the first 6
Korean market at the price level of 14-16% of the
months of this year.
total import value.
The FTA Agreement between Vietnam and Korea
Beyond the quota, the import tax rate is 20%.
has been implementing since 2015. It helps to
Accordingly, Vietnamese shrimp imported into
facilitate trade and import tariffs for Vietnamese
Korea is subject to a tax rate of 14-20%. This will
shrimp products. However, Vietnamese shrimp
reduce the competitiveness of Vietnamese shrimp
products imported into Korea are facing
in the Korean market.
Tab 35. Top 10 Vietnam shrimp exporters to South Korea, Jan - Jun 2023
1 CASES 13.5
3 NHA TRANG SEAFOODS 6.0
4 SOUTH VINA SHRIMP 4.7
5 GALLANT OCEAN VIETNAM 4.2
6 ANH NGUYEN BAC LIEU CO., LTD 3.4
7 FIMEX VN 3.1
8 STAPIMEX 3.0
9 CAMIMEX 2.9
10 LOTTE F&G VIETNAM COMPANY LIMITED 2.8
In the first 6 months of 2023, the average price of last year. Vietnam was still the largest supplier,
frozen vannamei exported from Vietnam to South followed by China and Canada. India ranked
Korea ranged from US$7.7-8.2/kg. The average the 8th in supplying shrimp to Korea. In the first
export price of vannamei to Korea is more stable 5 months of this year, Korea increased shrimp
than the average export price of black tiger shrimp imports from India with a sharp increase of 143%.
to this market. The average export price of black
Korea strongly increased imports of processed
tiger shrimp ranged from US$12.1-14.8/kg. warmwater shrimp in airtight containers (HS code
According to ITC, in the first 5 months of this 160529) in the first 5 months of this year with an
year, South Korea’s shrimp imports reached over increase of 1,780% to touch US$959 thousand.
US$313 million, down 19% over the same period
Fig 19. The average price of frozen shrimp exported to S.Korea, Jan 2022-Jun 2023 (US$/kg)
20
15 14.3 14.9 15.1 14.5 14.2 14.7 14.9 14.8 14.7 14.8 13.5 14.6 13.5
8.1 12.8 11.7 12.1
10 8.8 9.0 9.0 9.2 9.1 8.8 8.5 8.7 8.5 8.4 8.1 7.8 7.8 8.2 8.1 7.9 7.9 7.7
05 7.8
00

Tab 36. Top shrimp suppliers to South Korea, Jan - May 2023
Suppliers Jan - May 2022 Jan - May 2023 Change (%)
Total 384,224 313,264 -18.5
Vietnam 172,108 142,154 -17.4
Canada 42,440 27,844 -34.4
China 31,823 30,252 -4.9
Thailand 28,105 27,769 -1.2
Peru 27,826 16,053 -42.3
Malaysia 16,112 14,491 -10.1
Ecuador 28,589 15,174 -46.9
Argentina 10,830 9,296 -14.2
Russia 9,434 8,311 -11.9
India 5,007 12,185 143.4
Tab 37. Shrimp products imported into South Korea, Jan - May 2023
Jan - May Jan - May Change
HS code Products
2022 2023 (%)
Total 384,224 313,264 -18.5
Frozen shrimps and prawns, even smoked, whether in shell or not,
030617 233,591 184,327 -21.1
incl. shrimps and prawns in . . .
Shrimps and prawns, prepared or preserved, not in airtight
160521 81,943 78,772 -3.9
containers (excluding smoked)
"Lobsters ""Homarus spp."", whether in shell or not, live, fresh or
030632 24,026 19,748 -17.8
chilled
Frozen lobsters ""Homarus spp."", even smoked, whether in shell
030612 20,636 8,833 -57.2
or not, incl. lobsters in . . .
"Frozen cold-water shrimps and prawns ""Pandalus spp., Crangon
030616 11,488 10,416 -9.3
crangon"", even smoked, whether
Shrimps and prawns, whether in shell or not, dried, salted,
030695 10,743 9,368 -12.8
smoked or in brine, incl. ones . . .
Shrimps and prawns, prepared or preserved, in airtight containers
160529 51 959 1,780.4
(excluding smoked)
Rock lobster and other sea crawfish ""Palinurus spp., Panulirus
030631 691 300 -56.6
spp. and Jasus spp."", whether . . .
Shrimps and prawns, whether in shell or not, live, fresh or chilled
030636 599 478 -20.2
(excl. cold-water shrimps . .
030615 Frozen Norway lobster 456 15 -96.7
2.5. China & HK

Vietnam’s shrimp exports to China & HK in the first black tiger shrimp accounted for 25.3%, the rest
half of this year reached US$281 million, down was other shrimp. In the first 6 months of this year,
16% over the same period of last year. June is whiteleg shrimp and black tiger shrimp exports to
the first month since the beginning of this year, China & HK increased by 1% and 30% respectively
shrimp exports to China & HK recorded a positive over the same period of 2022. Export of processed
increase over the same period last year, up 19% to whiteleg shrimp increased the most by 66%;
US$59 million. Exports of processed black tiger shrimp and frozen
raw black tiger shrimp increased by 55% and 29%,
In the structure of shrimp products exported to
respectively; Exports of dried shrimp reported
China & HK, whiteleg shrimp accounted for 54.9%,
sharp rise of 583%.

inventories with limited harvest due to weather,

The Chinese market after removing the “Zero
the country’s shrimp supply in the last months of
COVID-19” policy, the amount of shrimp coming
the year to China will decrease. Demand for the
from Ecuador is large, localities with large
Chinese market in the second half of this year is
population such as Guangdong, Fujian ... increase
expected to be still good, so it is expected that
Ecuadorian shrimp imports. This puts pressure on
Vietnamese shrimp. Vietnam’s shrimp exports to China in the second
half of this year will be better than the first half of
However, after Ecuador pushed up cheap
the year.
Fig 20. Vietnam’s shrimp exports to China & HK, Jan - Jun 2023
US$ mil. %
16
100 20
4
80 -11 0
60 -22
-20
40 -40
-39 -40
20
0 -60
2022 2023 Growth (%)
Tab 38. Vietnam shrimp products exported to China & HK, Jan - Jun 2023 (US$ mil.)
No Products Jan - Jun 2023 Proportion (%) Change (%)
Whiteleg shrimp 153.997 54.9 0.9
1 incl: - Processed whiteleg shrimp (HS code 16) 5.551 65.9
Black tiger shrimp 71.025 25.3 29.6
2 incl: - Other processed black tiger shrimp (HS code 16) 0.863 54.9
- Frozen/fresh black tiger shrimp (HS code 03) 70.162 29.3
Other shrimp 55.567 19.8 -55.6
incl: - Other processed other shrimp (HS code 16) 2.340 22.1
3 - Dried other shrimp (HS code 03) 6.868 582.8
Total (1+2+3) 280.590 100.0 -15.7
In the first half of 2023, the average price of whiteleg shrimp exported to China ranged from US$4.9-7.9/
kg. While the average price of black tiger shrimp exported to this market ranged from US$8.2-13.8/kg.
Fig 21. The average price of frozen shrimp exported to China, Jan 2022-Jun 2023 (US$/kg)
15
13.8
10 9.8 9.9 10.9 11.1 10.6 10.5
9.4 9.5 9.5 9.5 9.4 8.8 8.3 8.9
8.1 7.8 8.2 7.9
5.7 5.8 5.8 5.8 5.9 6.0 6.3 6.5 6.8 6.6 6.5
05 4.9 4.9 4.9 4.3 4.9
3.8
00

According to Chinese Customs data, China’s sources are mainly headless, semi-processed and
imports of warmwater shrimp in the first six wild-caught red shrimp, so their prices was higher
months of this year reported a year-on-year than those of Ecuador.
increase of 49% to 502,669 MT. Total import value
increased by 29% to US$2.84 billion. This shows
that China’s shrimp demand is strong despite
the slow economic recovery after the COVID-19
pandemic.
Ecuador was China’s largest shrimp supplier with
362,000 MT, up 63% year-on-year.
India and Argentina have witnessed a strong
growth. Shrimp imports from India increased
by 31% and from Argentina rose by 270% in the
first half of this year to 60,700 MT and 17,700 MT
respectively. However, the products from these
Tab 39. Top 10 Vietnam shrimp exporters to China, Jan - Jun 2023
1 CHAU BA THAO SEAFOOD CO.,LTD. 5.3
2 MC SEAFOOD 5.0
3 TAN KHOI SEAFOOD CO.,LTD 4.7
4 BACHLINHIMEXCO 4.3
5 BNA BA CHE SEAFOOD JOINT STOCK COMPANY 4.2
6 VU QUOC TUAN 3.8
7 TCL FOODS (IMPORT & EXPORT) COMPANY LIMITED - NHA TRANG BRANCH 3.6
8 NGOC TRINH BAC LIEU IMPORT EXPORT AND SEAFOOD PROCESSING CO., LTD 3.6
9 TRANG KHANH SEAFOOD CO., LTD 3.5
10 HUNG BANG CO.,LTD 3.3
Fig 22. Frozen warmwater shrimp import volume into China (HS 030617)
120 8
thousand MT
7
100
6
80
5
US$/kg
60 4
3
40
2
20
1
0 0
Import volume Average import price

3. Top Vietnam shrimp exporters
In the first 6 months of 2023, the top 10 largest Stapimex continued to be the largest shrimp
shrimp exporters in Vietnam included Stapimex, exporter in Vietnam with the turnover of US$131
Minh Phu Seafood Corp, Minh Phu Hau Giang, million, accounting for 8.5% of the total shrimp
Cases, Fimex VN, Thuan Phuoc Corp, Taika Seafood export turnover of the country. Among the top
Corp, Vina Cleanfood, Havico and Thong Thuan Co., 10 largest shrimp exporters, most of them have
Ltd, accounting for 16.3% of total seafood exports reduced their export revenue by double digits.
and 43.8% of total shrimp exports of Vietnam.
Tab 40. Top 10 shrimp exporters of Vietnam, Jan - Jun 2023 (US$ mil.)
Proportion Proportion
Jan - Jun Jan - Jun Change
No Companies in shrimp in seafood
2023 2022 (%)
exports (%) exports (%)
1 STAPIMEX 131.331 187.586 -30.0 8.5 3.2
2 MINH PHU SEAFOOD CORP 100.606 186.027 -45.9 6.5 2.4
3 MINH PHU HAU GIANG 89.855 142.683 -37.0 5.8 2.2
4 CASES 74.487 105.570 -29.4 4.8 1.7
5 FIMEX VN 59.147 85.789 -31.1 3.8 1.4
6 THUAN PHUOC CORP 50.315 64.465 -21.9 3.3 1.2
7 TAIKA SEAFOOD CORP 47.484 57.318 -17.2 3.1 1.1
8 VINA CLEANFOOD 40.629 56.263 -27.8 2.6 1.0
9 HAVICO 36.871 50.472 -26.9 2.4 0.9
10 THONG THUAN CO,. LTD 34.385 44.364 -22.5 2.2 0.8
IV. IMPORTS
In the first 6 months of 2023, the total value of specifically live/fresh/frozen whiteleg shrimp (HS
Vietnam’s shrimp imports reached US$278 million, code 03). Besides, it also imports products such
up 10% over the same period in 2022. India was the as live/fresh/frozen black tiger shrimp and other
largest shrimp supplier to Vietnam with the import marine shrimp, shrimp seed... While imports of
value of US$139 million, an increase of 16% over vannamei in the first half of this year decreased
the same period in 2022. slightly, imports of lobster and black tiger shrimp
increased sharply.
Vietnam mainly imports whiteleg shrimp,
Tab 41. Shrimp imports into Vietnam, Jan - Jun 2023
No Origin Value (US$) Change (%) No Origin Value (US$) Change (%)
1 India 139,472,000 15.9 19 Saudi Arabia 511,064 -69.9
2 Australia 43,181,521 135.8 20 Bangladesh 288,517 -4.9
3 Ecuador 31,269,627 -51.1 21 Pakistan 155,720 -54.8
4 Argentina 9,080,504 5.5 22 Israel 150,120 -53.4
5 Malaysia 7,832,408 3,813.00 23 China&HK 93,342 -34.8
6 Singapore 5,686,666 -32.6 24 France 82,664 148.5
7 The US 5,495,751 -6.9 25 Estonia 74,875 34.8
8 Indonesia 5,293,407 544.7 26 Taiwan 72,864 118,513.40
9 Canada 4,641,239 -4.7 27 Spain 61,175 -78.2
10 Thailand 4,508,932 -9.3 28 Lithuania 59,445

11 Greenland 2,496,417 377.9 29 Russia 47,806

12 Philippines 1,642,539 118.7 30 New Zealand 35,442 141.1
13 The UK 1,455,498 15.9 31 Norway 16,727
14 Japan 1,411,003 83.2 32 South Korea 7,644 76.9
15 Myanmar 1,143,654 4,398,569.70 33 Colombia 600
16 Denmark 1,121,620 176.9 Others 9,595,487 10.4
17 Peru 695,467 997.2
Total 278,243,583 9.6
18 Panama 561,838
Tab 42. Shrimp imports into Vietnam, by species (USD)

Species Jan - Jun 2022 Jan - Jun 2023 Change (%)
Whiteleg shrimp 193,790,193 181,322,140 -6.4
Lobster 29,715,326 50,754,718 70.8
Black tiger shrimp 9,542,666 16,884,420 76.9
Red shrimp 8,484,642 10,647,483 25.5
Other shrimp 7,012,920 6,915,103 -1.4
Ornate rock lobster 869,591 4,007,104 360.8
Pink shrimp 1,631,983 2,808,127 72.1
Greasyback shrimp 1,791,953
Crayfish 1,785,934 1,454,916 -18.5
Green tiger prawn 156,377 547,567 250.2
Cat tiger shrimp 344,394 289,795 -15.9
Giant Freshwater prawn 177,256 289,162 63.1
Brown shrimp 303,066 288,505 -4.8
Slipper lobster 137,380
Krill shrimp 11 101,594 923,481.8
Baby shrimp 63 3,588 5,599.4
Total 253,814,421 278,243,583 9.6

CHAPTER III: PANGASIUS PRODUCTION AND EXPORTS
CHAPTER III:
PANGASIUS PRODUCTION AND EXPORTS

In the second quarter of 2023, Vietnam’s pangasius exports recorded negative growth in most
markets with export value reaching 451 million USD, down 41% compared to the same period last
year. The average export price of pangasius in the second quarter of 2023 decreased to 2.3-2.6 USD/
kg, down 25% compared to QI/2023. Export value to the top 10 markets declined, in which, China &
Hong Kong continuously ranked first in importing the most Vietnamese pangasius.
Accumulated in the first half of this year, Vietnam’s pangasius exports reached 873 million USD,
down 39% compared to the same period in 2022.
I. PRODUCTION
1. Output
In the first half of this year, the pangasius farming area nationwide reached 3,220 hectares, up 3.7%
over the same period in 2022; harvested output reached 859 thousand tons, up 11.3% over the
same period in 2022.
VietGAP certified pangasius farming area reaches 3,192 hectares, the output is estimated at 1.1
million tons. Besides VietGAP certification, pangasius farming facilities implement and are certified
with other standards such as Global GAP, ASC, BAP.
2. Price of raw pangasius

The price of raw pangasius grade I in Dong Thap
in April 2023 was at an average of 30,000 VND/kg,
down from 32,500 VND/kg in the same period last
year. At the end of April and the beginning of May
2023, the price of pangasius decreased to 27,500
VND/kg, down from the stable level of 32,500
VND/kg in the same period last year. Pangasius
exports is difficult, causing the price of pangasius
from June 2023 to mid-July 2023 to decrease to
27,000 VND/kg.
reduced from 27,970 VND/kg in January 2023
The price of raw pangasius size 800/1000
to 26,636 VND/kg; Size over 1200 reduced from
decreased from 28,233 VND/kg in January 2023
28,185 VND/kg in January 2023 to 28,255 VND/kg.
to 26,612 VND/kg in June 2023; Size 1000/1200
Fig 23. Prices of raw pangasius grade I in Dong Thap, 2022-2023
VND/kg
39000
36000
33000
30000
27000
24000
21000
18000
15000

Fig 24.
Fig 25.
II. EXPORTs
In the second quarter of 2023, Vietnam’s pangasius export turnover reached 451 million USD, down
42% compared to the same period in 2022 and decreased in most product segments. Exports of all
products recorded negative double-digit growth: frozen pangasius fillet exports down 44%, fresh/
frozen/whole-dried/portion pangasius by 15%, processed pangasius products down 56% compared
to the same period last year.
Fig 26. Vietnam pangasius exports in QII/2023 (miliion USD)
400
310
300 248
213
200 148 160 143
100
0
Apr May Jun
2022 2023

1. Products
In the second quarter of 2023, frozen pangasius fillets/cuts still accounted for 83% of total exports
with 374 million USD, down 44% over the same period last year. Whole pangasius fresh/frozen/
dried accounted for 16% with over USD 71 million, down 15% and value added processed pangasius
products (dried, salted, frozen breaded and other processed) accounted for 1% with 6 million USD.
Table 43. Vietnam pangasius products for export, QII/2022-2023 (US$)

Change Proportion
Products QII/2022 QII/2023
(%) by value (%)
Processed pangasius(HS code 16) 13,672,201 5,973,668 -56% 1
Fresh/frozen/dried whole pangasius (HS code 03) 83,387,200 71,034,314 -15% 16
Frozen pangasius fillets/portion (HS code 0304) (ex. surimi) 673,283,444 373,774,096 -44% 83
Total 770,342,845 450,782,078 -41% 100
In addition to factors such as reduced demand and difficult domestic production, the decrease in
pangasius export price is one of the main reasons for the decrease in pangasius export turnover in
the second quarter of 2023.
Table 44. Vietnam pangasius exports, Jan – Jun/2023, by products (US$ mil.)
Proportion Compare to the
Products Value
(%) same period (%)
Pangasius HS code 03 (1) 859.116 98.4 -38.8
Of which: - Fresh/frozen/dried pangasius (HS code 03, ex. HS code 0304) 138.511 15.9 -10.0
Pangasius fillet/portion/steak (HS code 0304) 720.605 82.5 -42.3
Processed pangasius HS code 16 (2) 13.583 1.6 -34.0
Total Pangasius (1 + 2) 872.699 100.0 -38.7
In the first half of 2022, frozen pangasius fillets/portion still accounted for the dominant proportion
in total exports, with 712 million USD, accounting for 82%. Fresh/frozen whole pangasius accounted
for 16% and the rest were dried, salted, frozen breaded and other processed pangasius products
only 2%.
2. Markets
In the first 6 months of 2023, Vietnam exported In which, the export value to most of the
pangasius to 165 markets, increase of 39 markets main markets decreased: China - Hong Kong
compared to the same period in 2022. decreased by 34%; the US decreased by 61%;
CPTPP decreased by 36%; Mexico down 49%;
By the end of June 2023, the total export value of
Brazil down 23%; Thailand down 49%; Colombia
pangasius reached 873 million USD, down 39%
down 28%; other markets fell 39%. Some bright
compared to the same period last year. In which,
spots of Vietnam’s pangasius exports recorded
the export value to China - Hong Kong, the US
positive growth, including Saudi Arabia up 52%,
and CPTPP - the 3 largest export markets reached
Germany up 39%, Singapore up 6%, UK up 3%
536 million USD, accounting for more than 61%
over the same period in 2022.
of the total export value of pangasius.

Fig 27. Vietnam pangasius exports to main markets, Jan - Jun/2022 - 2023 (US$ mil.)
500
428
milion USD
400 356
281
300
180 170
200 141
115
88111 101
100 38 49 33 32 53
18 21 27 16 22
-
China & Hong The US CPTPP EU Brazil UK Thailand Colombia Others
HK Kong
2023 2022
Table 45. Vietnam pangasius exports to main markets in QII/2023 (US$ mil.)
Market Apr/2023 May /2023 Jun/2023 QII/2023
(%) (%) (%) (%)
China & HK 39.880 -65.8 49.748 -29.9 47.967 -15.2 137.595 -43.6
Hong Kong 3.074 -9.8 2.827 -35.7 2.492 -23.4 8.393 -24.1
US 27.948 -65.5 32.398 -53.1 22.527 -51.4 82.872 -57.8
CPTPP 20.877 -40.5 18.515 -40.9 20.584 -38.9 59.976 -40.1
Mexico 7.159 -41.0 3.996 -65.3 5.370 -49.1 16.525 -51.7
Singapore 2.838 -10.9 3.184 2.4 3.365 -23.2 9.386 -12.1
Canada 3.735 -49.9 3.013 -46.4 2.909 -54.7 9.657 -50.5
Japan 2.270 -26.0 2.981 -9.8 2.378 -24.1 7.629 -19.7
EU 15.334 -17.7 16.841 -27.5 11.520 -47.8 43.696 -31.6
Netherlands 4.193 -8.1 4.847 -38.0 3.780 -38.8 12.820 -30.9
Germany 2.393 20.2 2.946 28.1 1.687 -46.5 7.026 -5.6
Belgium 1.118 -39.4 1.007 -54.5 1.426 -14.4 3.551 -38.0
Spain 1.275 -41.1 1.703 -30.9 0.806 -50.2 3.783 -39.4
Brazil 5.779 4.9 6.411 83.6 6.346 -20.2 18.536 9.4
UK 5.660 -22.0 5.442 -10.0 5.889 -14.0 16.991 -15.7
Thailand 4.169 -52.5 4.937 -45.9 2.503 -56.4 11.608 -50.9
Saudi Arabia 3.533 154.6 4.260 51.3 3.288 60.6 11.080 77.3
Philippines 2.939 3.0 3.530 56.1 2.353 8.1 8.821 21
Colombia 1.456 -42.0 2.062 -42.8 2.528 -8.6 6.045 -32.0
The other markets 20.459 -32.6 15.486 -39.6 17.614 -33.5 53.560 -35.1
Total 148.033 -52.3 159.630 -35.5 143.118 -32.7 450.782 -41.5
Fig 28. Structure of pangasius import markets Fig 29. Structure of pangasius import markets
in the first 6 months of 2023 (value) in the first 6 months of 2022 (value)
CPTPP Others CPTPP
Others 12.7%
13.2% 18.8%
20.3%
EU
EU UK 7.8%
UK 10.1% 2.3%
3.8% Brazil
3.4%
Brazil
4.3% The US
16.1% The US
25.0%
China & Hong Kong

China & Hongkong
30.0%
32.1%

Table 46. Vietnam pangasius exports to main markets in QI – QII/2023 (US$ mil.)
Jan –
Markets QI/2023 Change (%) QII/2023 Change (%) Change (%)
Jun/2023
China & HK 142.961 -22.1 137.595 -43.6 280.557 -34.4
Hong Kong 9.960 0.9 8.393 -24.1 18.353 -12.3
US 57.750 -63.9 82.872 -57.8 140.622 -60.5
CPTPP 54.952 -31.4 59.976 -40.1 114.929 -36.2
Mexico 15.042 -46.7 16.525 -51.7 31.567 -49.4
Singapore 8.735 35.3 9.386 -12.1 18.121 5.8
Canada 7.042 -51.2 9.657 -50.5 16.699 -50.8
Japan 7.317 -11.4 7.629 -19.7 14.946 -15.9
EU 44.700 -4.4 43.696 -31.6 88.396 -20.1
Netherlands 11.683 -26.4 12.820 -30.9 24.502 -28.8
Germany 10.965 99.6 7.026 -5.6 17.991 39.1
Belgium 4.737 -3.7 3.551 -38.0 8.288 -22.1
Spain 3.634 -25.7 3.783 -39.4 7.418 -33.4
Brazil 19.276 -40.1 18.536 9.4 37.812 -23.0
UK 16.205 33.9 16.991 -15.7 33.196 2.9
Thailand 15.548 -47.6 11.608 -50.9 27.156 -49.0
Saudi Arabia 6.067 20.4 11.080 77.3 17.147 51.9
Philippines 7.449 -23.3 8.821 21.0 16.270 -4.3
Colombia 9.966 -24.6 6.045 -32.0 16.012 -27.6
Others 47.043 -42.0 53.560 -35.1 100.603 -38.5
Total 421.917 -35.4 450.782 -41.5 872.699 -38.7
In the first six months of 2023, the average export price of pangasius to most markets decreased by
2% - 25% over the same period last year.
Fig 30. Average export prices of Vietnam pangasius, Jan - Jun/2022-2023 (USD/kg)
4
3.4 3.4 3.4
3.5 3.15 3.25 3.2
3
3
2.5 2.75 2.8
2.6 2.5
2 2.32
1.5
2022 2023
2.1. The US
In the second quarter of 2023, Vietnam pangasius the most pangasius from Vietnam. The effects of
export value to the US market reached 83 million inflation and high food prices, along with large
USD, down 58% over the same period last year. By inventories in the world’s leading economy, have
adversely affected Vietnamese pangasius exports
the end of June 2023, the total value of pangasius
exports to the US reached 141 million USD, down to the US. It is expected that in the last months of
61% compared to the same period in 2022. this year, pangasius export sales to this market will
The deep and continuous decline made the US fall gradually recover when inventories decrease and
to the second position after China in importing people’s demand increases again.

Table 47. Pangasius products exported to the US, Jan - Jun/2023 (US$)
Proportion
Products Jan - Jun/2022 Jan - Jun/2023 Change (%)
by value (%)
Processed pangasius(HS code 16) 8,706,248 215,237 -98 0.2
Fresh/frozen/dried whole pangasius (HS code 03) 5,477,898 2,404,409 -56 1.7
Frozen pangasius fillets/portion (HS code 0304) (ex. surimi) 342,256,137 138,002,430 -60 98.1
Total 356,440,283 140,622,076 -61 100
Fig 31. Vietnam pangasius exports to the US, Jan - Jun/2022 - 2023 (US$ mil.)
100 0%
million USD
80 -20%
60 -53% -53% -51% -40%

-59%
-66%
40 -60%
-81%
20 -80%
10 17 31 28 32 23
0 -100%
2022 2023 Growth
In the first four months of 2023, imports of white tilapia product with a value of USD 131 million.
fish from the US reached more than 663 million In addition, imports of some white fish products
USD, down 17% compared to the same period from the US recorded positive double-digit
last year. According to ITC statistics, in the first growth: Fresh or chilled fillets of tilapia increased
4 months of this year, frozen cod fish fillets (HS by 10%, Frozen fillets of Alaska pollack increased
030471) had the largest import value in the US by 45%, Fresh or chilled tilapia increased 12%,...
whitefish product group with a total import value Meanwhile, imports of some white fish products
of nearly 226 million USD, up 57%. compared of this market decreased by 32% - 85%, including:
to the same period last year. Thus, with this value, Frozen fillets of catfish down 59%, Frozen fillets
the frozen cod fish fillet is higher than the frozen of tilapia down 26%, etc.
Table 48. The US’s imported whitefish products, Jan – Apr/2023

(Value: thousand USD, source: ITC)
Jan -
HS - Products Jan 1 Feb Mar Apr ih%
Jun/2023
030462 - Frozen fillets of catfish 24,657 16,785 17,420 30,037 88.899 -59
030471 - Frozen fillets of cod 76,071 50,571 52,263 46,421 225.326 57
030461 - Frozen fillets of tilapia 60,600 22,463 21,394 26,152 130.609 -26
030431 - Fresh or chilled fillets of tilapia 17,826 17,365 19,236 16,695 71.122 10
030472 - Frozen fillets of haddock 12,447 6,104 8,278 5,380 32.209 -32
030323 - Frozen tilapia 9,944 5,912 5,641 5,249 26.746 -39
030475 - Frozen fillets of Alaska pollack 14,627 8,070 6,172 4,670 33.539 45
030363 - Frozen cod 645 1,543 471 880 3.539 -85
030271 - Fresh or chilled tilapia 3,155 2,820 3,360 3,545 12.880 12
030364 - Frozen haddock 3,268 2,041 2,903 2,586 10.798 -39
030474 - Frozen fillets of hake 1,243 1,307 543 715 3.808 -34
Total 230.066 141,288 143,963 147,447 662,764 -17

Vietnam, China, Indonesia, Colombia and Iceland are the 5 largest suppliers of white fish products to
the US.
The export price of Vietnamese pangasius to the US market fluctuated at 2.97 - 3.45 USD/kg in the first
6 months of this year.
Fig 32. Average prices of Vietnam pangasius exported to the US, Jan - Jun/2022-2023 (USD/kg)
5.5 4.79 4.97 4.94
4.5 4.51 4.47
4.5 3.61 3.68 3.45
2.97 3.11 3.16
3.5
2.5
1.5
2022 2023
Table 48. Top 10 Vietnam pangasius exporters to the US, Jan - Jun/2023
No Company Proportion by value (%)
1 VINH HOAN CORP 51
2 BIEN DONG SEAFOOD CO., LTD 17.7
3 VAN DUC TIEN GIANG FOOD 10.6
4 NTSF 7
5 NAVICO 5.6
6 CASEAMEX 4.2
7 HUNG CA 2 DEVELOPMENT CORPORATION 0.8
8 PTFOOD 0.6
9 INDIAN OCEAN CO., LTD 0.3
10 HUNGCA 6 CORP 0.3
2.2. EU
In the second quarter of 2023, the export value of The EU mostly imports many frozen pangasius
Vietnamese pangasius to the EU market reached fillets. In the second quarter of 2023, this market
44 million USD, down 2% compared to QI/2023, imported 41 million USD of Frozen pangasius
down 32% compared to the same period last year. fillets/portion (HS code 0304) (ex. surimi) from
In which, the largest importers of Vietnamese Vietnam, down 32% over the same period last
pangasius in the bloc are: the Netherlands with 13 year. The remaining products of processed
million USD, down 31% over the same period last pangasius (HS code 16) and fresh/frozen/dried
year; Germany reached 7 million USD, down 6%; whole pangasius reached USD 754 thousand
Spain reached 3.7 million, down 39%; Belgium (down 28%) and USD 2 million (down 33% over
reached 3.6 million USD, down 38%. the same period last year).
By the end of June 2023, the total value of For frozen pangasius products, specialized
pangasius exports to the EU reached 88 million importers will import by container ships. At the
USD, down 20% compared to the same period last same time, they will sell pangasius directly to
year. February and March 2023 exports increased relevant market segments or the first value-added
by 34% and 3%, respectively. However, in the segment for pangasius products before they go
following months, the export value decreased by to market. Retail and food services in Northern
18%-48% over the same period last year. Europe through importers and wholesalers are the
final European market segments for pangasius.

Fig 33. Vietnam pangasius exports to EU, Jan - Jun/2022 - 2023 (US$ mil.)
25 40%
34%
million USD
19
20 17 20%
15 15
15 3% 0%
11 12
10 -18% -20%
-28%
5 -37% -40%
-48%
0 -60%
2022 2023 Growth
Table 50. Pangasius products exported to the EU, QII/2022-2023 (US$)

Products QII/2022 QII/2023 Change (%)
Processed pangasius(HS code 16) 1,047,575 753,966 -28
Fresh/frozen/dried whole pangasius (HS code 03) 2,876,909 1,914,839 -33
Frozen pangasius fillets/portion (HS code 0304) (ex. surimi) 59,999,615 41,027,291 -32
Total 63,924,099 43,696,095 -32
Table 51. Pangasius products exported to EU, Jan – Jun/2022-2023 (US$)

Change Proportion
Products Jan - Jun/2022 Jan - Jun/2023
(%) by value (%)
Processed pangasius(HS code 16) 2,163,217 1,816,879 -16 2.1
Fresh/frozen/dried whole pangasius (HS code 03) 5,107,215 3,543,713 -31 4
Total 110,681,269 88,396,158 -20 100
Fig 34. Average prices of Vietnam pangasius exported to EU, Jan - Jun/2022-2023 (USD/kg)
4 3.74
4 3.36
3.5 3.2
3,5 2.9 2.96
2.84
3 3.2
3 2.91
2.5 2.74 2.69
2,5 2.58 2.52
2
2 Jan Feb Mar Apr May Jun
2022 2023
of this year decreased compared to the same

In the second quarter of 2023, the average price of
pangasius exports to the EU fell from 2.69 USD/kg period last year, but compared to the same period
in previous years, this is also a remarkable number
in April to 2.52 USD/kg in June, this is the lowest
in the effort to gradually bring Vietnamese
level since the beginning of this year after a sharp
increase. in February to 3.74 USD/kg. pangasius back to the track. After decades of
Pangasius exports to the EU in the first 6 months being “faded”.

In the first half of 2023, many markets in the EU reduced imports of Vietnamese pangasius such as the
Netherlands down 29%, Belgium down 22%, Spain 33%, Italy down 46%, France down 20%, Portugal
down 26% , Poland down 63%,...In which Germany and Lithuania are considered bright spots when
pangasius exports to these two markets continuously recorded positive double-digit growth of 39%
and 23%, respectively.
Table 52. Pangasius exports to EU member countries, Jan - Jun/2022-2023 (million USD)
Market Jan - Jun/2022 Jan - Jun/2023 Change (%)
Netherlands 34.433 24.502 -28.8
Germany 12.937 17.991 39.1
Belgium 10.646 8.288 -22.1
Spain 11.139 7.418 -33.4
Italy 8.360 4.558 -45.5
France 5.041 4.037 -19.9
Portugal 4.968 3.694 -25.6
Poland 8.411 3.108 -63
Finland 0.192 3.015 1470
Greek 3.049 2.347 -23.0
Lithuania 1.415 1.744 23.2
Rumania 1.671 1.378 -17.5
Sweden 0.810 1.228 51.7
Denmark 0.925 1.091 17.9
Croatia 1.686 0.757 -55.1
Sip 1.100 0.649 -41
Slovenia 1.511 0.622 -58.8
Latvia 0.140 0.474 237.6
Hungary 0.756 0.361 -52.2
Bulgaria 0.544 0.354 -35.1
Ireland 0.253 0.306 20.9
Malta 0.285 0.188 -34.1
Estonia 0 0.098
Sec 0.198 0.084 -57.8
Austria 0.097 0.061 -37.2
Slovakia 0.117 0.045 -61.6
Table 53. Top 10 Vietnam pangasius exporters to Germany, Jan - Jun/2023

1 VINH HOAN CORP 19.6
2 GODACO 12.6
3 HUNG CA COMPANY LIMITED 10.5
5 DATHACO 9
6 VAN DUC TIEN GIANG FOOD 7.4
7 CASEAMEX 7.3
8 INTERFISH COMPANY LIMITED 7
9 HUNG VUONG CORPORATION 2.9
10 TRUONG PHAT SEAFOOD JOINT STOCK COMPANY 2.6

2.3 China & Hongkong

In the second quarter of 2023, Vietnam’s the decline gap has gradually narrowed. If April
pangasius exports to China & Hong Kong markets 2023 decreased by 66%, May 2023 decreased by
decreased by 44% over the same period last year 30% compared to the same period in 2022, in
to 138 million USD and down 4% compared to June this level narrowed to only 15%.
the first quarter of 2023.
From 2020 to now, China & HK have always
In the first 6 months of the year, pangasius exports maintained the No. 1 position in terms of
to China & Hong Kong reached 280 million USD, Vietnamese pangasius consumption. Compared
down 34% compared to the same period in 2022. to the main markets, China & HK maintained the
In which, the two main product lines exported highest growth.
to China are frozen pangasius fillets (HS code After a period of continuous decline from
0304) with 92 million USD and fresh/frozen/ September 2022 to January 2023, the average
dried whole pangasius (down 52%, fresh/frozen export price of pangasius to this market recorded
pangasius) / dried whole, cut (except fish under stable in the following months. The average
code 0304) with 46 million USD, down 16% over price of Vietnamese pangasius exports to China
the same period last year. in the first five months of this year ranged from
In QII/2023, Vietnam’s pangasius export turnover 2.11 USD/kg to 2.29 USD/kg, down 10% over the
to China has had a more positive signal & Hong same period in 2022. In May alone, the average
Kong compared to the previous quarter when price averaged 2.29 USD/kg, up 0.4% month on
month.
Table 54. Pangasius products exported to the China & Hong Kong, QII/2022-2023 (US$)
Processed pangasius(HS code 16) 189,399 192,972 2
Fresh/frozen/dried whole pangasius (HS code 03) 54,386,662 45,697,746 -16
Total 244,174,663 137,595,457 -44
Table 55. Pangasius products exported to China & Hong Kong, Jan – Jun/2022-2023 (US$)
Change Proportion
(%) by value (%)
Processed pangasius(HS code 16) 332,411 411,359 24 0.1
Total 427,605,261 280,556,798 -34 100
Fig 35. Vietnam pangasius exports to China & HK, Jan - Jun/2022 - 2023 (US$ mil.)
140 40%
million USD
120 26% 20%

100
0%
80 66 65 -15% -20%
-30%
60 50 48
-34% 40 -40%
40
20 13
-62% -60%
-66%
0 -80%
2022 2023 Growth

Fig 36. Average prices of Vietnam pangasius exported to China, Jan - Jun/2022-2023 (USD/kg)
3
2.49 2.56 2.52 2.56 2.53
2.41
2.5
2.35 2.28 2.29

2 2.2 2.18
2.11
1.5
2022 2023
After a slight increase in May 2023 at 2.29 USD/ spending, causing the consumption of goods
kg, the average price of Vietnamese pangasius to decrease significantly. Consumer price and
exports to China continued to decrease in June producer price indexes showed that the world’s
2023 to 2.18 USD/kg. second largest economy continued to weaken
in May. These factors had a negative impact on
Consumption demand has decreased, inflation is
pangasius exports to this market in the first half of
still close to 0%, Chinese businesses and consumers
the year now.
still expect prices to fall further, thereby delaying
Table 56. Top 10 Vietnam pangasius exporters to China & Hong Kong, Jan - Jun/2023
1 NAVICO 10.2
2 IDI CORP 8.4
3 CAT TUONG SEAFOOD PROCESSING COMPANY LIMITED 8.0
4 DATHACO 7.1
5 TG FISHERY 6.2
6 HOANG LONG SEAFOOD 3.4
8 CADOVIMEX II 3.3
9 GODACO 3
10 HANA FISH 2.6
2.4. Mexico
In the second quarter of 2023, Vietnam’s recorded an increase of 24%, reaching 7

pangasius export value to the Mexican market million USD after increasing continuously for the
reached 17 million USD, down 52% compared previous 2 months. However, export turnover in
to the same period in 2022. Accumulated May and June 2023 witnessed negative double-
pangasius exports to this market in the first 6 digit growth when decreasing by 38% and 20%
months of 2023 reached 32 million USD, down respectively. Although the value of Vietnamese
49% over the same period last year (62 million pangasius exports to Mexico has decreased, this
USD). North American country still maintains its leading
In April 2023, pangasius exports to Mexico position in the CPTPP market in importing
Vietnamese pangasius.

Fig 37. Vietnam pangasius exports to Mexico, 2022 - 2023
million US$ %
12 52.6 60
30.8 23.8 40
10
8 20
-20.0 0
6
-37.8 -20
4 -40
2 -62.3 -60
0 -80
2022 2023 Growth (%)
Table 57. Pangasius products exported to Mexico, QII/2022-2023 (US$)

Fresh/frozen/dried whole pangasius (HS code 03) 1,496,754 985,895 -34
Total 34,194,069 16,524,578 -52
Table 58. Pangasius products exported to Mexico, Jan – Jun/2022-2023 (US$)

Change Proportion
(%) by value (%)
Processed pangasius(HS code 16) 45,300 70,000 55 0.2
Total 62,391,325 31,566,601 -49 100
Vietnam mainly exports two main pangasius products to Mexico, which are frozen pangasius fillets and
frozen cut fish to this market. In the second quarter of 2023, the price of pangasius exported to Mexico
was always above 2.4 USD/kg
Fig 38. Average prices of Vietnam pangasius exported to Mexico, Jan - Jun/2022-2023 (USD/kg)
3.1
2.9
2.7
2.5
2.3
2.1
1.9
1.7
1.5
2022 2.6 2.49 2.72 2.92 2.31 2.79
2023 2.39 2.62 2.53 2.4 2.45 2.42
2022 2023

Table 59. Top 10 Vietnam pangasius exporters to Mexico, Jan - Jun/2023

1 IDI CORP 47.2
2 VIETNAMFISH CO,.LTD 15.1
4 CL-FISH CORP 4.0
5 HOANG LONG SEAFOOD 3.8
6 INTERFISH COMPANY LIMITED 2.9
7 HASACO 2.6
8 NAVICO 2.2
9 HANA FISH 2.1
10 HHFISH 1.8
2.5. UK
In the second quarter of 2023, Vietnam’s pangasius export turnover to the UK reached 17 million
USD, down 16% compared to the same period last year. In which, frozen pangasius fillet with HS
code 0304 is still the main product exported to this market, with a value of more than 15 million USD,
down 15% compared to the same period last year. Total pangasius export turnover to the UK in the
first 6 months of the year reached 33 million USD, recording a positive growth of 2.9% over the same
period last year.
Fig 40. Average prices of Vietnam pangasius exported to UK, Jan - Jun/2022-2023 (USD/kg)
5.5
4.5
3.5
2.5
1.5
2022 3.7 3.74 3.56 4.2 4.35 4.93
2023 3.32 2.92 2.98 3.04 3.25 2.61
2022 2023
Fig 39. Vietnam pangasius exports to UK, Jan - Jun/2022 - 2023 (US$ mil.)
8 100%
79% 7
million USD
7 80%
6 6
6 5
44% 60%
5 5 5
40%
4
20%
3 -2%
-10% -14% 0%
2
-22%
1 -20%
0 -40%
2022 2023 Growth

Table 60. Pangasius products exported to the UK, QII/2022-2023 (US$)

Processed pangasius(HS code 16) 1,213,544 825,988 -32
Fresh/frozen/dried whole pangasius (HS code 03) 888,391 892,101 0,4
Total 20,155,929 16,991,044 -16
Table 61. Pangasius products exported to UK, Jan – Jun/2022-2023 (US$)

Change Proportion
(%) by value (%)
Processed pangasius(HS code 16) 1,542,729 2,454,320 59 7
Fresh/frozen/dried whole pangasius (HS code 03) 1,425,562 1,548,922 9 5
Frozen pangasius fillets/portion (HS code 0304) (ex. surimi) 29,293,235 29,192,541 -0.3 88
Total 32,261,526 33,195,783 3 100
In the first four months of 2023, UK imports of of haddock 10%, fresh or chilled haddock down
white fish reached 386 million USD, up 4% over 19%, frozen haddock down 16%, fresh or chilled
the same period last year. Imports of some of his cod 28% off, frozen tilapia 17%, frozen fillets of
whitefish products recorded positive double- tilapia down 52%, frozen hake down 25%, etc.
digit growth: Frozen fillets of Alaska pollack HS The country with the world’s 5th largest economy
code 030475 (64%), Frozen fillets of catfish HS is still going against the trend of the major powers
code 030462 (21%), Frozen fillets of hake HS code when prices are rising 4 times faster than the
030474 (84%), Fresh or chilled hake HS code BOE’s 2% inflation target (Bank of England). ).In
030254 (31%), Frozen catfish (45%), etc. May 2023, inflation in the UK increased to 7.1%,
In addition, a number of products recorded from 6.8% the previous month. While inflation
record growth at 3 digits such as: Frozen meat, in the G7 countries has dropped to below 5%
whether or not minced, of Alaska pollack HS (the lowest level since September 2021), the UK
code 030494 up 245%, Fresh or chilled fillets of is the only country in the bloc where inflation
catfish HS code 030432 up 150% . is still rising. In that context, this country is still
considered a bright spot of Vietnam’s pangasius
Imports of some whitefish products from the UK
exports when most markets recorded a decline.
decreased by 0.5% - 52%, including: Frozen fillets
Table 62. Imported white fish products from UK, Jan - Apr/2022 – 2023
(Value: thousand USD)
Jan - Jan - Change Tỷ trọng
HS code Products
Apr/2022 Apr/2023 (%) (%)
Total import 372,169 385,732 4 100%
030471 Frozen fillets of cod 185,825 195,037 5 49%
030472 Frozen fillets of haddock 51,200 46,222 -10 12%
030475 Frozen fillets of Alaska pollack 25,131 41,294 64 13%
030252 Fresh or chilled haddock 29,534 23,918 -19 6%
030462 Frozen fillets of catfish 15,950 19,317 21 6%
030363 Frozen cod 19,590 19,493 -0.5 5%
030364 Frozen haddock 18,989 16,010 -16 4%
030251 Fresh or chilled cod 13,273 9,554 -28 2%
030474 Frozen fillets of hake 2,114 3,895 84 1%

030323 Frozen tilapia 3,283 2,709 -17 1%

030494 Frozen meat, whether or not minced, of Alaska pollack 719 2,478 245 0%
030461 Frozen fillets of tilapia 2,082 995 -52 0%
030254 Fresh or chilled hake 608 799 31 0%
030366 Frozen hake 1.465 1.101 -25 0%
030324 Frozen catfish 631 917 45 0%
030544 Smoked tilapia 324 421 30 0%
030551 Dried cod 796 830 4 0%
030431 Fresh or chilled fillets of tilapia 408 433 6 0%
030271 Fresh or chilled tilapia 217 234 8 0%
030432 Fresh or chilled fillets of catfish 30 75 150 0%
Table 63. Top 10 Vietnam pangasius exporters to the UK, Jan - Jun/2023
2 NTSF 19.2
3 GODACO 10.0
4 PTFOOD 7.0
5 VANY CORP 4.0
6 DATHACO 4.0
7 PHU THANH HAI CO., LTD 4.0
8 IDI CORP 3.1
9 HANA FISH 2.0
10 NAVICO 1.7
2.6. Brazil
QII/2023, Vietnam’s pangasius exports to Brazil same period last year.
reached nearly 19 million USD, down 23% Unlike many other markets, this country only
compared to the same period last year. imports Frozen pangasius fillets/portion (HS
In April, Brazil bought nearly 6 million USD of code 0304) (ex. surimi) HS0304 from Vietnam. The
Vietnamese pangasius, up 5% over the same export turnover of this item to Brazil increased by
period in 2022. The average export price in 9% over the same period in 2022, reaching nearly
April has remained above 3 USD/kg since March 19 million USD. However, in the second quarter of
2022. This is also the first time that pangasius 2023, Brazil began to import fresh/frozen/dried
export turnover to this market increased in the whole pangasius (HS code 03) whole pangasius
first 4 months of this year after falling deeply by products, cut into pieces (except fish under
56%, 23% and 23% in the previous 3 months, code 0304) from Vietnam. Vietnam’s exports of
respectively. In the first 6 months of the year, this item to Brazil in the second quarter of 2023
Vietnam’s pangasius export turnover to Brazil reached more than 14,000 USD.
reached 38 million USD, down 23% over the
Table 64. Pangasius products exported to Brazil, Jan – Jun/2022-2023 (US$)
Change Proportion
(%) by value (%)
Processed pangasius(HS code 16) 26,000 -100 0
Fresh/frozen/dried whole pangasius (HS code 03) 14,400 0.04
Frozen pangasius fillets/portion (HS code 0304) (ex. surimi) 49,082,983 37,797,477 -23 100
Total 49,108,983 37,811,877 -23 100

Fig 41. Vietnam pangasius exports to Brazil, Jan - Jun/2022 - 2023 (US$ mil.)
20 84% 100%
million USD
15 50%
5%
10 -23% -23% -20% 0%
-56%
5 -50%
7.4 6.3 5.5 5.8 6.4 6.3
0 -100%
2022 2023 Growth
In QII/2023, the average price of pangasius exports to Brazil dropped to 2.99 USD/kg, this is also the
lowest level since the beginning of the year and is equivalent to the price of the first 2 months of 2022.
Fig 42. Average prices of Vietnam pangasius exported to Brazil, Jan - Jun/2022-2023 (USD/kg)
3.6
3.4
3.2
3
2.8
2.6
2022 2.96 2.98 3.18 3.21 3.17 3.5
2023 3.06 3.05 3.16 3.17 3.06 2.99
2022 2023
Brazil has fully reopened after the covid-19 epidemic. Vietnamese pangasius is especially loved by
Brazilian consumers not only because of its delicious taste and rich nutrition, but also because of its
reasonable price, especially in the context of global inflation as well as the tensions of the Russian war.
Ukraine makes people more tight spending. In addition, the diplomatic and trade relations between
Vietnam and Brazil are increasingly close. This is one of the factors that expect Vietnamese pangasius
to come closer to this country with the world’s top 10 economy.
Table 65. Top 10 Vietnam pangasius exporters to Brazil, Jan - Jun/2023

2 SOUTH VINA CO., LTD 27.5
3 CADOVIMEX II 17.5
4 NAVICO 6.4
5 CASEAMEX 6.4
6 CO MAY IMEX CO.LTD 5.2
7 AN NGOC SERVICE TRADING PRODUCE COMPANY LIMITED 1.9
8 GODACO 1.4
9 HHFISH 1.2
10 TDFOOD 1

3. Top Vietnam pangasius exporters

In the first six months of 2023, the top 5 largest pangasius exporters include Vinh Hoan Joint Stock
Company, NAVICO, I.D.I Corp, VAN DUC TIEN GIANG FOOD, BIEN DONG SEAFOOD CO., LTD
Table 66. Top 5 Vietnam pangasius exporters, Jan - Jun/2023

Proportion by Compare to the
No Company Value (USD)
value (%) same period (%)
1 VINH HOAN CORP 127.963 3.08 -43
2 NAVICO 55.829 1.35 -18
3 IDI CORP 48.597 1.17 -31
4 VAN DUC TIEN GIANG FOOD 41.555 1.00 -39
5 BIEN DONG SEAFOOD CO., LTD 33.635 0.81 -61
Most cpmpanies recorded negative double-digit growth compared to the same period last year. In
which, exports of VINH HOAN CORP decreased by 43%, reaching nearly 128 million USD, NAVICO
reaching nearly 56 million USD, down by 18%, I.D.I Corp’s gaining nearly 49 million USD, down by 31%,
VAN DUC TIEN GIANG FOOD downs 39% in sales to nearly 42 million USD, BIEN DONG SEAFOOD CO.,
LTD reached 34 million USD, down 61%.

CHAPTER IV: TUNA EXPORTS
In the second quarter of 2023, Vietnam’s tuna exports continued to decline month by month. Tuna
export turnover in this quarter was just over US$202 million, down 31% over the same period in
2022. Total tuna export turnover in the first 6 months of 2023 recorded US$382 million, down 31%
over the same period last year.Tuna exports to almost all main markets tended to decrease over the
same period.
Fig 43. Vietnam’s tuna export turnover, Jan- Jun, 2019-2023
$293 mil. $552mil. Jan-Jun

Jan-Jun Jan-Jun
2019 ↓20% 2021 ↑55% 2023
$366 mil. Jan-Jun $355 mil. Jan-Jun $382 mil.

↑21% 2020 ↑21% 2022 ↓31%
I. EXPORTS
1. Products
In the second quarter of 2023, Vietnam’s export of processed tuna products, especially
processed and canned tuna exports continued frozen steamed tuna loin in this period showed
to increase, while exports of fresh and frozen an increase of 10% over the same period last
tuna products continued to decline. year. However, exports of this group of products
In the total export turnover, the group of frozen tended to decline in the last 2 months of the
tuna meat/loin products with HS code 0304 still second quarter.
accounted for the highest proportion of 52%.
The exports of this product group decreased
continuously in the first half of the year.
In contrast, exports of canned tuna products,
after decreasing in January, started to grow in
the following 5 months, but the increase was not
much. Therefore, by the end of June, the export
of this product group was only equivalent to
that of the same period last year. Meanwhile, the
Table 67. Vietnam's tuna products for exports, Jan - June 2023 (US$ mil.)
Jan - Jun Proportion
Products Change (%)
2023 (%)
Tuna HS code 03 (1) 207.339 54.3 -46.0
Fresh/frozen/dried tuna (HS code 03, ex HS code 0304) 7.880 -3.3
Frozen tuna loin/fillet/portion (HS code 0304) 199.460 -47.0
Processed tuna HS code 16 (2) 174.673 45.7 3.8
Other processed tuna (HS code 16) 60.200 9.9
Canned tuna (HS code 16) 114.473 0.9
Total (1 + 2) 382.013 100.0 -30.9
Source: VASEP (Based on Vietnam Custom’s data)

Fig 44. Vietnam tuna exports, by HS code, Jan 2022 - Jun 2023 (US$ mil.)
100
80 78 77
60 61 63 60 59 55
46 51 48 34 36 30 38 36
40 36 27 35 40
31 32 30 27 28 31 33 28 33 29
27 21 27 27 23
20 32 29
0
Jan.22 Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan.22 Feb Mar Apr May Jun
HS03 HS16
2. Export markets
In the first 6 months of 2023, inflation caused a
downturn in demand in major export markets of
Vietnam’s tuna products. To offset this decrease,
tuna enterprises have expanded their exports
to new markets, resulting in a market expansion
from 91 in the first half of 2022 to 100 countries
worldwide in the first half of 2023.
The US, EU, CPTPP, Israel, Thailand, Russia and the
Philippines are still the 7 largest tuna importers of
Vietnam, accounting for 97% of the total export
value. In which, the US, Israel and Thailand are the
3 single markets that import the most.
Overall, in the first half of 2023, Vietnam’s tuna
exports to traditional markets such as the US,
Canada, and Japan tended to decrease. However,
exports to new and smaller markets such as South
Korea, Algeria, Turkey, or Argentina increased
significantly with three-digit growth.
Fig 45. Vietnam tuna exports, Jan 2022 - Jun 2023

120 0 %
US$ mil.
-5
100
-10
-13
80 -15
-20
60
-26 -25
40 -28 -30
-31
-35
20 -38
-40
-43
0 -45
2022 2023 Growth (%)

Table 68. Vietnam tuna exports to markets, QII/2022(US$ mil.)

Compared to Compared to Compared to Compared to
Market Apr/2023 May/2023 Jun/2023 QII/2023
Apr/2022 (%) May/2022 (%) Jun/2022 (%) QII/2022 (%)
The US 25.493 -60.2 27.622 -44.8 25.523 -48.1 78.638 -51.8
The EU 10.994 -27.6 16.937 14.5 12.137 28.1 40.068 1.6
Germany 2.169 25.2 3.010 65.6 2.564 30.7 7.743 40.5
The Netherlands 1.159 -50.4 3.492 172.2 2.154 180.8 6.805 55.1
Belgium 1.072 -45.0 1.793 -39.8 1.157 -8.3 4.022 -35.0
CPTPP 9.887 -14.0 10.418 -17.5 9.994 -26.0 30.299 -19.5
Japan 2.297 -24.7 3.263 -32.1 3.250 -30.8 8.809 -29.8
Canada 2.996 -38.1 3.063 -31.0 2.512 -54.2 8.571 -42.0
Mexico 1.875 117.1 1.384 4.4 2.861 100.2 6.120 69.1
Chile 1.646 77.7 2.060 173.2 0.723 90.0 4.429 114.9
Israel 3.607 49.4 3.909 110.1 3.892 164.4 11.408 98.5
Thailand 5.718 132.6 1.064 -64.8 4.582 65.3 11.364 37.7
Russia 2.087 486.3 1.324 -13.8 1.222 -42.2 4.633 15.7
Philippines 1.444 -28.3 1.815 -5.9 1.028 -49.4 4.286 -28.2
Others 2.087 486.3 1.324 -13.8 1.222 -42.2 4.633 15.7
Total 67.170 -38.1 69.878 -26.1 64.587 -28.4 201.635 -31.2
Source: VASEP (based on Vietnam Custom’s data)
Table 69. Vietnam's tuna exports to markets, Jan – Jun/2023 (US$ mil.)
Compared to Compared to Jan – Jun Compared to Jan
Market QI/2023 QII/2023
QI/2022 (%) QII/2022 (%) 2023 – Jun 2022 (%)
The US 64.130 -53.2 78.638 -51.8 142.768 -52.5
The EU 37.246 -1.2 40.068 1.6 77.314 0.2
Germany 7.713 10.5 7.743 40.5 15.456 23.8
The Netherlands 7.706 24.1 6.805 55.1 14.511 36.9
Belgium 2.542 -44.0 4.022 -35.0 6.565 -38.8
CPTPP 26.152 -14.0 30.299 -19.5 56.450 -17.0
Japan 7.939 29.1 8.809 -29.8 16.749 -10.4
Canada 4.327 -69.5 8.571 -42.0 12.898 -55.5
Mexico 5.514 28.8 6.120 69.1 11.634 47.3
Chile 3.358 40.0 4.429 114.9 7.787 74.6
Israel 13.370 86.7 11.408 98.5 24.778 92.0
Thailand 7.473 105.9 11.364 37.7 18.838 58.5
Russia 5.421 19.6 4.633 15.7 10.054 17.8
Philippines 4.314 -11.3 4.286 -28.2 8.600 -20.6
Others 5.421 19.6 4.633 15.7 10.054 17.8
Total 180.378 -30.4 201.635 -31.2 382.013 -30.9
Table 70. Top 10 export markets for fresh/frozen tuna (HS 03) of Vietnam, Jan – Jun/2023 (US$ mil.)
No Market Value No Market Value
1 The US 82.685 6 Japan 7.848
2 Israel 11.693 7 Canada 7.333
3 Russia 10.001 8 The Netherlands 6.774
4 Mexico 8.710 9 Lithuania 5.806
5 Philippines 8.600 10 Belgium 5.274
Source: VASEP (based on Vietnam’s Custom’s data)
Table 71. Top 10 export markets for canned tuna (HS code16) of Vietnam, Jan - Jun 2023 (US$ mil.)
No Market Value No Market Value
1 The US 60.083 6 The Netherlands 7.737
2 Thailand 14.082 7 South Korea 5.880
3 Israel 13.085 8 Canada 5.565
4 Germany 11.651 9 Italy 4.788
5 Japan 8.901 10 Peru 3.192
Source: VASEP (based on Vietnam’s Custom’s data)

Fig 46. The structure of Vietnam’s tuna import market, Fig 47. The structure of Vietnam’s tuna import market,
Jan-June 2023 (by value ) Jan-June 2022 (by value )
The US 14.9
The US
16.2
EU EU
37.4
Israel 12.3 Israel
14.8 Thailand
Thailand 54.3
2.2 CPTPP
CPTPP
4.9 2.3 Others
Others 14
6.5 20.2
Table 72. Import markets of Vietnam’s tuna, Jan – Jun/2023

Compared to Compared to
Value (US$ Value (US$
No Market same period No Market same period
mil.) mil.)
in 2022 (%) in 2022 (%)
1 The US 142.768 -52.5 36 Thailand 18.838 58.5
EU 77.314 0.2 37 Russia 10.054 17.8
2 Germany 15.456 23.8 38 Philippines 8.600 -20.6
3 Netherland 14.511 36.9 39 South Korea 5.898 160.4
4 Belgium 6.565 -38.8 40 The UK 3.776 89.7
5 Lithuania 6.172 -11.9 41 Taiwan 3.456 -15.5
6 Italy 5.812 37.2 42 Saudi Arabia 2.603 -82.6
7 Rumania 5.103 -4.9 43 Algeria 2.130 237.1
8 Spain 4.609 -50.3 44 UAE 2.050 8.1
9 Finland 2.501 123.3 45 Egypt 1.816 -81.5
10 Croatia 2.059 27.3 46 Jordan 1.796 -32.3
11 Sweden 1.988 45.1 47 Libya 1.773 -61.6
12 Poland 1.954 86.8 48 Ukraine 1.410 -14.9
13 Denmark 1.908 -31.2 49 Colombia 1.251 -1.3
14 Cyprus 1.667 4.6 50 Lebanon 1.205 -34.1
15 Greece 1.575 -3.2 51 Dominic Republic 1.076 -37.4
16 France 1.295 -55.5 52 Reunion 0.966 -0.8
17 Czech 0.906 37.3 53 Syria 0.900 50.1
18 Latvia 0.894 230.8 54 Turkey 0.867 127.5
19 Slovenia 0.869 14.6 55 East Timo 0.741 -24.0
20 Portugal 0.770 -42.4 56 Iraq 0.612 59.9
21 Malta 0.425 57 Papua New Guinea 0.511
22 Bulgaria 0.230 -37.5 58 Costa Rica 0.502 -34.2
23 Ireland 0.046 59 Serbia 0.439 112.4
CPTPP 56.450 -17.0 60 Puerto Rico 0.421 65.7
24 Japan 16.749 -10.4 61 Marshall Islands 0.415
25 Canada 12.898 -55.5 62 Sudan 0.381 -20.2
26 Mexico 11.634 47.3 63 Mauritius 0.294 109.3
27 Chile 7.787 74.6 64 Albania 0.289 -52.2
28 Peru 3.451 -6.9 65 Kuwait 0.270 386.4
29 Australia 1.609 -20.6 66 Argentina 0.262 961.4
30 Malaysia 1.031 -12.0 67 Indonesia 0.221 -88.1
31 New Zealand 0.846 85.0 68 Ivory Coast 0.165 231.5
32 Singapore 0.419 -28.7 69 Norway 0.163 -75.9
33 Brunei 0.026 -58.9 70 Martinique 0.155 -43.8
34 China &HK 2.291 110.0 Other 30 markets 2.105 -43.5
Others 103.189 -2.6
Total 382.013 -30.9
35 Israel 24.778 92.0

2.1. The US
In the second quarter of 2023, Vietnam’s tuna exports to the US experienced a further decline. Export
turnover in this quarter reached nearly US$202 million, down 31% compared to the same period
in 2022. Therefore, cumulatively in the first 6 months of 2023, export turnover still decreased by 31%
compared to the same period last year, reaching US$382 million.
Fig 48. Vietnam tuna exports to the US, Jan 2022 - Jun 2023
0 %
US$ mil.
70
60 -10
50 -20
40 -30
30 -40
-45 -45 -48
20 -51 -50
10 -62 -60 -60
0 -70
2022 2023 Growth (%)
Table 73. Vietnam tuna products exported to the US, Jan - June 2023 (US$ mil.)
Products Jan - June 2023 Proportion (%) Compared to 2022 (%)
Tuna HS code 03 (1) 82.685 57.9 -63.1
Fresh/frozen/dried tuna (HS code 03, ex. HS code 0304) 0.556 -8.7
Tuna HS code 16 (2) 60.083 42.1 -20.9
Other processed tunas (HS code 16) 25.921 -6.0
Canned tuna (HS code 16) 34.162 -29.5
Total (1+2) 142.768 100.0 -52.5
Exports of all Vietnam’s tuna products to the US Table 74. Top 10 tuna suppliers to the US, Jan - May 2023
decreased compared to the same period last (Value: thousand USD, volume: MT)
year. In which, exports of frozen tuna loin/fillet/ Change vs. 2022
Suppliers Jan - May /2023
(%)
portion (HS code 0304) and canned tuna with Value Volume Value Volume
HS code 16 decreased continuously since the Total 833,960 125,150 -17 -13
beginning of the year. Furthermore, exports of Thailand 229,159 44,784 -1 -5
other processed tuna products under HS code Vietnam 110,013 15,937 -53 -38
16, mainly frozen steamed tuna loins, initially Indonesia 108,129 12,466 -17 -9
showed growth in the first quarter. However, Ecuador 71,156 11,329 -3 -10
Mexico 60,964 8,797 8 1
during the last two months of the second
Philippines 23,446 3,837 -36 -25
quarter, there was a sharp drop in exports for
Senegal 38,761 6,661 16 16
this category. As a result, in the first 6 months of Panama 10,585 864 -35 -33
the year, Vietnam’s overall exports of these tuna Spain 26,325 1,535 79 58
products to the US declined by 6%. Mauritius 8,915 1,487 -41 -39
According to statistics of the US Department of suppliers, Vietnam is the second largest supplier
Agriculture, in the first 5 months of 2023, the US to the US market after Thailand. In general, in the
imported 125 thousand tons of tuna, worth US$ first 5 months of this year, US tuna imports from
833 million, down 13% in volume and 17% in main sources all decreased.
value over the same period in 2022. Among 67
Currently, tuna inventories in the US are being line of Vietnam to the US was 15% lower than the
cleared, and importers are considering increasing same period last year.
imports again. However, tuna prices in South In the market segment of processed skipjack
America are lower than in Asia, which is creating tuna, not canned, oil-free with size >6.8kg,
competition in this market. Vietnam is the second largest supplier after
The dramatic increase in the price of raw tuna on Thailand and ahead of Indonesia. Currently, the
the world market is also holding back US tuna US tends to increase imports of this product line
imports. Among the groups of imported tuna from Indonesia, reduce imports from Thailand
products from the US, imports of frozen tuna and Vietnam. Compared to the first 5 months of
loin/fillet/portion (HS code 0304) still account for 2022, the average export price of this product
the highest proportion of total export turnover. line in Vietnam underwent significant changes
However, imports of this group are decreasing but still tends to increase.
over the same period while imports of skipjack
tuna products or canned tuna products, air tight,
free-oil are increasing.
In the frozen tuna loin/fillet/portion HS code
0304870000, Vietnam is the second largest
supplier to the US market after Indonesia and
before Thailand. In the first 5 months of 2023,
while imports of this product group from Vietnam
and Indonesia decreased, imports from Thailand
increased. Compared to the same period last
year, the average export price of this product
Table 75. Main imported tuna products into the US, Jan-May 2023
(Value: thousand USD, Volume: MT)
Change vs. Jan-
Jan - May 2023
Products May 2022 (%)
Value Volume Value Volume
Total 833,960 125,150 -17 -13
0304870000 - Frozen Fillet of Yellowfin, Skipjacks, Striped tuna 169,545 13,291 -42 -38
1604143099 - Other canned tunas and skipjack tuna, airtight, oil-free 164,013 38,620 13 5
1604143091 - Canned skipjack tuna, oil-free, weight > 6.8 kg 121,374 21,131 12 6
1604144000 - Canned skipjack tuna, non-airtight, oil-free weight > 6.8 kg 106,651 18,974 -23 -22
0302320000 – Fresh or chilled Yellowfin tunas 64,109 6,082 1 4
0302350100 - Fresh or chilled Atlantic and Pacific bluefin tunas 51,404 1,932 31 14
1604143059 - Canned Albacore tunas, airtight, oil-free 47,715 6,940 -33 -33
1604141099 – Canned striped tuna, airtight, in oil 24,002 4,713 -6 -16
0303420060 – Frozen Yellowfin tunas 18,399 1,590 -61 -58
0302340000 - Fresh or chilled bigeye tunas 15,408 1,502 -7 2
1604191000 – Canned bonito and yellowtail tunas, airtight, oil-free 12,641 4,188 -33 -40
1604143051 - Canned albacore tunas, oil-free, weight >6.8 kg 10,586 1,464 13 13
0304991190 – Other tunas weight >6.8 kg 8,645 926 -37 -33
1604141010 – Canned skipjacks tunas, airtight, in oil weight <6.8 kg 8,522 1,881 146 146
(Source: USDA)

Fig 49. Average prices of Vietnam tuna HS code 03048700 exported to the US, Jan 2022 - May 2023 (USD/MT)
14,139
13,874 13,870 14,058
13,549 13,323
13,261
12,939 12,936 13,083
12,397
12,025
11,791 11,803
10,902
10,625 10,454
JAN- FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC JAN- FEB MAR APR MAY
22 23
Fig 50. Average prices of Vietnam tuna HS code 1604144000 exported to the US, Jan 2022 - May 2023 (USD/MT)
7,083
6,853
6,411
6,129 5,960
5,723 5,899
5,655 5,480
5,427 5,386 5,309 5,386
4,534 4,575 4,692

4,352
JAN- FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC JAN- FEB MAR APR MAY
22 23
In the first half of 2023, Vietnam has 44 enterprises participating in exporting tuna to the US. In which,
sales mainly focused on Mariso Vietnam (14%), followed by Dragon Waves (11%) and Mowi Vietnam
(11%).
Table 76. Vietnam tuna exporters to the US, Jan - June 2023 (Value)
No Company Proportion (%)
1 MARISO VIETNAM CO., LTD 14
2 DRAGON WAVES 11
3 MOWI VIETNAM CO., LTD 11
4 AHFISHCO 9
5 YUEH CHYANG CANNED FOOD 8
6 HIGHLAND DRAGON ENTERPRISE 7
7 EVERWIN INDUSTRIAL CO., LTD 5
8 TRANG THUY SEAFOOD CO., LTD 4
9 PHUC NGUYEN SEAFOOD COMPANY LIMITED 3
10 THINH HUNG FISHERY JSC 3
(Source: VASEP, FRO)
2.2. EU
Tuna exports to the EU market in the second Vietnam is currently the 7th largest supplier of tuna
quarter of 2023 tend to increase, reaching more to the EU market. Tariff incentives from the Free
than US$ 40 million, up nearly 2% over the same Trade Agreement between the EU and Vietnam
period in 2022. The total value of tuna exports to (EVFTA) are an advantage to promote EU importers
the EU in the first 6 months of 2023 is equivalent to seek orders from Vietnam. However, at present,
to over the same period last year, reaching US$77 the import quota of canned tuna, frozen steamed
million. tuna loin is almost used up. Therefore, Vietnam’s

tuna exports to this market block in the second end of June 2023, canned tuna exports to the
half of the year will slow down. EU increased by 64% over the same period, and
became the export product accounting for the
While exports of most tuna product group to
highest proportion. After the continuous decrease
this market all decreased over the same period,
in the first 4 months of 2023, exports of Frozen
export of canned tuna products with HS code
tuna loin/fillet/portion (HS code 0304) increased
16 increased continuously since February. By the
again in the last two months of the second quarter.
Fig 51. Vietnam tuna exports to EU, Jan 2022 - Jun 2023
20 80 %
58.6
US$ mil.
60
15 40
28.1
14.5
20
10
5.0 0
-27.6
5 -20
-41.7
-40
0 -60
2022 2023 Growth (%)
Table 77. Vietnamese tuna products exported to the EU, Jan - June 2023 (US$ mil.)
Jan - June Proportion Compared to
Products
2023 (%) 2022 (%)
Tuna HS code 03 (1) 37.207 48.1 -26.5
Fresh/frozen/dried tuna (HS code 03, ex. HS code 0304) 0.206 -92.3
Tuna HS code 16 (2) 40.106 51.9 51.1
Other processed tunas (HS code 16) 2.107 -36.6
Total (1+2) 77.314 100.0 0.2
Entering the second quarter of 2023, most EU

markets increased their tuna imports from
Vietnam. In which, two key markets, Germany
and the Netherlands, still grew strongly by 40%
and 55% respectively. Accumulated in the first
6 months of 2023, in addition to the two main
markets mentioned above, it is worth noting that
there are some markets in the bloc that recorded
“galloping” growth, including Finland (123%),
Latvia (250%) and Poland (87%).
In the first 6 months of 2023, there were 40
on FoodTech (15%), Yueh Chyang Canned Food
Vietnamese enterprises exporting tuna to EU
(14%) and Bidifisco (14%).
countries. In which, export sales focused mainly

Table 78. Top 10 Vietnamese tuna exporters to the EU, Jan - June 2023
1 FOODTECH JSC 15
2 YUEH CHYANG CANNED FOOD 14
3 BIDIFISCO 14
4 KTCFOOD 8
5 TRANG THUY SEAFOOD CO., LTD 8
6 HALONG CANFOCO - DA NANG CO. LTD. 5
7 AHFISHCO 5
8 TUNA VIETNAM 5
9 EDISON FOODS 4
10 HAI TRIEU CO., LTD 4
(Source: VASEP synthesized, FRO)
The Russia- Ukraine war, thrifty consumer in the first 3 months of 2023 also decreased. Low
spending, rising prices of goods, rising gasoline, demand for canned tuna and higher prices has
and depreciation of the euro are the reasons for led to a decrease in consumption. By the end of
slowing demand in this market. According to the March 2023, EU imports of frozen steamed tuna
loins reached 65,472 tons, down 12% compared
statistics of the World Trade Center (ITC), in the first
quarter of 2023, the EU’s tuna imports reached to the same period in 2022, but the average price
more than 1.3 billion USD, an increase of nearly increased by 17%, fluctuating at EUR 5,666/ton
5% compared to the same period in 2022. Despite (CFR price). Vietnamese enterprises lost more than
this overall growth, the rate of increase was not half of their business activities in the first quarter
particularly high. The primary reason behind this of 2023 as they did lower prices but these price
moderate growth is the significant increase in reductions were so marginal that they failed to
tuna prices. make a significant difference compared to their
original prices. Vietnamese processors cannot
In the first 3 months of 2023, EU countries imported
export duty-free frozen steamed tuna loins to the
83,573 tons of canned tuna, down 21% year-on-
EU year-round, unlike canned tuna products under
year and with the average price at EUR 5,388/ton
the EVFTA. Therefore, the preferential tariff rate
($5,888/ton), an 18% rise over the same period.
of 0% under the Autonomous Tariff Quota (ATQ)
Following the downward trend of canned tuna from Chinese or Indonesian products becomes
imports, EU imports of frozen steamed tuna loins more attractive to EU importers.
Table 79. Top tuna suppliers in the EU, QI/2022-2023 (thousand USD)
Suppliers QI/2022 QI/2023 Change (%)
Spain 339,489 362,570 6.8
Italy 331,955 350,166 5.5
France 150,434 170,056 13.0
Germany 108,606 114,530 5.5
The Netherlands 88,394 76,394 -13.6
Portugal 61,982 70,277 13.4
Belgium 32,973 32,556 -1.3
Poland 14,179 15,876 12.0
Czech 12,317 15,671 27.2
Austria 22,341 15,598 -30.2
Others 103,421 102,122 -1.3
Total 1,266,091 1,325,816 4.7
(Source: ITC)

Table 80. Top 10 suppliers of frozen steamed tuna loin to EU, QI/2023
(Unit: tons, EUR/ton)
QI/2022 QI/2023 Change (%)
Suppliers
Volume CFR Price Volume CFR Price Volume CFR Price
China 27,179 4,129 23,009 4,892 -15 18
Indonesia 10,967 5,797 12,758 6,542 16 13
Ecuador 10,183 4,996 7,379 6,157 -28 23
Vietnam 5,431 5,002 2,512 5,179 -54 4
Papua New Guinea 4,360 4,764 3,514 5,483 -19 15
Mauritius 2,721 2,265 3,075 5,757 13 9
Solomon Islands 1,864 6,549 3,338 6,995 79 7
Thailand 1,558 4,529 185 5,387 -88 19
Philippines 1,763 4,944 746 5,248 -58 6
Guatemala 617 5,277 1,453 6,577 135 25
Total 73,989 4,825 65,473 5,666 -12 17
(Source: Eurostat)
2.3. Japan
After growing continuously in the first quarter of the same period.
2023, Vietnam’s tuna exports to Japan decreased While the average export price of frozen tuna
continuously in the second quarter. Tuna exports meat/loin (HS03048700) from Vietnam to Japan
to Japan in this quarter only reached nearly US$9 tended to decrease, it remained higher than the
million, down 30% compared to the same period same period last year. In the second quarter of
in 2022. Accumulated in the first 6 months of 2023, the average price of these products was
2023, tuna exports to this market reached nearly around US$8.6/kg, showing a 27% increase
US$17 million, down 10% over the same period. compared to the same period in 2022.
Vietnam’s tuna exports to Japan in the second The prices of frozen, steamed tuna meat/loin
quarter of 2023 all decreased over the same with HS code 16041490 also rose higher than in
period. However, thanks to good growth in the the first quarter of 2023, fluctuating at USD 7.1/
first quarter, exports of processed and canned kg. However, compared to the same period in
tuna products still increased slightly by 1% over 2022, exports of this product still grew by 5%.
Fig 52. Vietnam tuna exports to the US, Jan 2022 - Jun 2023
%
6 60
US$ mil.
5 40
38
4 27 24 20
3
0
2
1 -20
-25
-32 -31
0 -40
2022 2023 Growth (%)

Table 81. Vietnam’s tuna products exported to Japan, Jan - June 2023 (US$ mil.)
Products Jan - June 2023 Proportion (%) Change (%)
Tuna HS code 03 (2) 7.848 46.9 -20.4
Fresh/frozen/dried tuna (HS code 03. ex. HS code 0304) 0.517 108.1
Tuna HS code 16 (1) 8.901 53.1 0.7
Other processed tuna (HS code 16) 7.190 0.7
Total (1+2) 16.749 100.0 -10.4
Source:VASEP (based on Vietnam’s Customs data)
In the first 6 months of 2023, there are 28 enterprises participating in exporting to the Japanese
market. Mariso Vietnam, Evertrust Food Co., Ltd, AHFISHCO and FoodTech are the 4 leading companies
in exporting to this market, accounting for 32%, 16%, 13% and 13% respectively.
Fig 53. Average prices of Vietnam tuna HS code 03048700 exported to the Japan, Jan 2022 - Jun 2023 (USD/kg)
11.4
9.7
9.0 8.6 8.7
8.5
7.4 7.5 7.7 7.8 7.4
7.2 6.9
6.2 6.4 6.5 6.6
6.0
JAN- FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC JAN- FEB MAR APR MAY JUN
22 23
Fig 54. Average prices of Vietnam tuna HS code 16041490 exported to the Japan, Jan 2022 - Jun 2023 (USD/kg)
Table 82. Top 10 Vietnam tuna exporters to Japan, Jan - Jun 2023
No Company Proportion
1 MARISO VIETNAM CO., LTD 32
2 EVERTRUST FOODS CO., LTD 16
3 AHFISHCO 13
4 FOODTECH JSC 13
5 NATURAL FOODS PLUS CO., LTD 4
6 DAI THUAN FOOD 4
7 HIGHLAND DRAGON ENTERPRISE 3
8 FUJIURA NHA TRANG CO., LTD 3
9 BIDIFISCO 2
10 DRAGON WAVES 2

The rapid increase in food prices in Japan is tuna market segment, Vietnam is the 5th largest
causing significant financial strain on households supplier after Thailand, the Philippines and
and workers, leading to restrained consumption Indonesia, and China. These 5 suppliers account
of seafood products, including tuna. for more than 99% of Japan’s total processed and
canned tuna imports.
Specifically, Japan’s tuna imports in the first 4
months of 2023 reached nearly 790 million USD, Specifically, Vietnam accounted for just over 3%,
down 1.3% over the same period. Imports of while Thailand accounted for 62%, the Philippines
loins, fillets, meat, portion tuna HS code 030487 accounted for 12%, Indonesia accounted for 19%
fell while imports of processed canned tuna rose. and China accounted for 3%. By the end of April
2023, Vietnam still maintains its position and is
Currently, Vietnam is the 17th largest tuna
the country with the highest export growth rate
supplier out of more than 50 tuna supplies to the
in this market segment.
Japanese market. In the processed and canned
Table 83. Main imported tuna products to Japan, Jan - Ap 2023

HS code Products Jan - Apr 2022 Jan - Apr 2023 Change (%)
Total imports 800,679 789,965 -1.3
030487 Frozen fillet of skipjack/ striped tunas 444,176 432,519 -2.6
160414 Processed skipjack/striped tunas 114,907 137,074 19.3
030344 Frozen bigeye tunas 127,031 100,062 -21.2
030342 Frozen yellowfin tunas 65,258 65,150 -0.2
030235 Fresh or chilled Atlantic and Pacific bluefin tuna 10,157 15,458 52.2
030343 Frozen skipjack/ striped tunas 13,024 24,668 89.4
030341 Frozen albacore tunas 8,683 4,557 -47.5
030236 Fresh or chilled Southern bluefin tunas 1,637 2,311 41.2
030232 Fresh or chilled yellowfin tunas 3,095 2,049 -33.8
030345 Frozen Atlantic and Pacific bluefin tuna 2,713 1,484 -45.3
030234 Fresh or chilled bigeye tunas 2,958 2,193 -25.9
030346 Frozen Southern bluefin tunas 7,026 2,371 -66.3
3. Vietnamese tuna exporters
In the first 6 months of 2023, Vietnam has more Waves and TUNA VIETNAM. These 5 companies
than 148 enterprises participated in exporting account for more than 3% of total seafood export
tuna. The top 5 largest tuna exporters of Vietnam turnover and 35% of total tuna exports of the
during this period are YUEH CHYANG CANNED country.
FOOD, AHFISHCO, MARISO VIETNAM, Dragon
Table 84. Top 5 Vietnamese tuna exporters, Jan - Jun 2023 (US$ mil.)
Value Proportion Proportion in
No Company Jan - Jun Jan - Jun in total tuna total seafood
Change (%) exports (%) exports (%)
2023 2022
1 YUEH CHYANG CANNED FOOD 32.358 28.344 14.16 8.5 0.78
2 AHFISHCO 27.512 20.783 32.38 7.2 0.66
3 MARISO VIETNAM 26.225 31.617 -17.05 6.9 0.63
4 DRAGON WAVES 25.134 53.72 -53.21 6.6 0.61
5 TUNA VIETNAM 24.185 25.366 -4.66 6.3 0.58

II. TUNA IMPORTS

In the first 6 months of 2023, Vietnam imported China and the Philippines, accounting for more
tuna from more than 40 countries/territories than 58%.
around the world, with an import value of nearly Vietnam mainly imports fresh and frozen tuna,
US$128 million, an increase of 11% compared to accounting for 97% of the total value of tuna
the same period in 2022. The top 6 tuna suppliers imports, serving for export processing activities
include Taiwan, Micronesia, Korea, Indonesia, of enterprises.
Table 85. Tuna products imported into Vietnam, Jan - Jun 2023
Products Value (USD) Proportion (%) Change (%)
Tuna HS code 03 (1) 232,744,391 94.5 -18.2
In which: - Fresh/frozen/dried tuna (HS code 03. ex. HS code 0304) 222,138,264 -18.8
- Frozen tuna loin/fillet/portion (HS code 0304) 10,606,127 -2.3
Processed HS code 16 (2) 13,545,096 5.5 58.8
In which : - Other processed tuna 12,717,873 57.7
- Canned tuna 827,223 77.2
Total (1 + 2) 246,289,487 100.0 -15.9
Table 86. Tuna suppliers to Vietnam, Jan - Jun 2023

No Suppliers Value (USD) Change (%) No Suppliers Value (USD) Change (%)
1 Taiwan 47,827,348 -37.9 24 Mauritius 1,995,799
2 South Korea 27,792,193 -25.1 25 Solomon Islands 1,851,823 36.2
3 China&HK 21,344,240 -31.3 26 France 1,643,371 20,828.90
4 Indonesia 17,523,723 -32.8 27 Mexico 1,620,000
5 Micronesia 15,731,810 -31.7 28 Maldives 1,529,859 44.1
6 Philippines 13,090,987 44.1 29 Fiji 1,153,137 -56.7
7 Nauru 9,658,935 -45 30 Sri Lanka 992,551 -32.9
8 Spain 8,918,447 21,889.70 31 Tanzania 905,754
9 India 8,444,877 36.2 32 New Zealand 783,433 -73.4
10 Papua New Guinea 8,313,527 872.8 33 El Salvador 332,375
11 Japan 7,362,774 -19.5 34 UK 327,634
12 Vanuatu 6,915,145 -39.4 35 Suriname 242,466 -88.1
13 Kiribati 6,125,520 -19.2 36 Marshall Island 187,995 -98.2
14 Curacao 5,118,305 37 Canada 164,239
15 Tuvalu 5,040,299 61 38 Belize 154,512
16 Senegal 3,723,584 39 Cook Island 113,397
17 Panama 2,792,249 1,881.80 40 Yemen 75,611 -79.2
18 Oman 2,581,392 164 41 Singapore 9,621 19.7
19 US 2,531,274 109,688.10 42 Germany 4,787
20 Thailand 2,497,731 -66.4 43 Australia 3,459 113.3
21 Seychelles 2,489,486 44 Others 1,919,847 1,615.30
22 Guatemala 2,307,101
Total 246.289.487 -15.9
23 Malaysia 2,146,871 32.5
Source:VASEP (based on Vietnam’s Customs data)

CHAPTER V: EXPORTS OF CEPHALOPOD AND OTHER MARINE PRODUCTS
CHAPTER V:
EXPORTS OF CEPHALOPOD AND
OTHER MARINE PRODUCTS

I. CEPHALOPOD
Vietnam’s cephalopod exports in the first 6 the Philippines.
months of 2023 reached US$292 million, down In QII 2023, Vietnam’s cephalopod exports
15% over the same period last year. Although reached nearly US$154 million, down 18% over
negative growth is inevitable in the general the same period. Exports of squid and octopus in
declining trend, compared to other main export the second quarter of this year fell more sharply
seafood products of Vietnam, the export value of than in the first quarter. Negative growth lasted
cephalopod still recorded a slight decrease. from the first months to the end of the quarter,
In June 2023 alone, cephalopod exports reached June saw the sharpest decline.
more than US$51 million, down 23% over the High inflation and the global economic recession
same period. Exports of cephalopod fell sharply caused consumers to tighten their spendings,
in main markets such as Korea, China, and the EU reducing the demand for importing cephalopod
while exports to some Asian markets recorded in major consuming markets.
positive growth such as Thailand, Taiwan, and
1. Products
In the structure of exported cephalopod the group of products that recorded the deepest
products, squid and cuttlefish accounted for decline in the first half of this year, down 21% to
57.5%, octopus accounted for 42.5%. In the first US$99 million.
two quarters of 2023, the value of squid exportsAmong exported cephalopod products, in the
decreased by 13%, octopus exports decreased first 6 months of 2023, only processed octopus
by 17% compared to the same period in 2022. recorded a slight increase of 2%, the remaining
Dried/salted/live/fresh/frozen octopus occupied products all decreased from 8%-21% over the
the highest proportion of 34% in the structure same period.
of exported cephalopod products. This is also
Table 87. Vietnam cephalopod products for exports, Jan - Jun 2023 (US$ mil.)
Products Value Proportion (%) Change (%)
Squid (1) 167.815 57.5 -13.2
incl: - Other processed squid (HS code16) 13.767 -16.7
- Dried/smoked squid (HS code 03) 65.629 -18.6
- Frozen/fresh/live squid (HS code 03) 88.419 -8.0
Octopus (2) 124.115 42.5 -17.1
incl: - Processed octopus (HS code16) 25.163 1.6
- Dried/salted/live/fresh/frozen octopus (HS code 03) 98.952 -20.9
Total (1 + 2) 291.930 100.0 -14.9
2. Markets
In the first 6 months of 2023, Vietnam exported cephalopod include South Korea, Japan, Thailand,
cephalopods to 48 markets, compared to 53 China & HK, Italy, the US, Malaysia, Taiwan, Spain,
markets over the same period in 2022. the Philippines, France, and Australia, accounting
for 95% of the total cephalopod exports from
The top 10 largest import markets for Vietnam’s
Vietnam

In H1 2023, Vietnam’s main cephalopod import by 4%.

markets saw increased proportions from In the first two quarters of 2023, Vietnam’s
Thailand and CPTPP markets, while proportions octopus exports to Korea, Japan, and China & HK,
from Korea, EU, China, and HK markets declined. the three largest import markets, saw positive
Japan, South Korea, and Thailand are the three growth. Exports to Korea increased by 23%, while
largest squid import markets of Vietnam, exports to China & HK grew by 44%, and exports
accounting for 24%, 18% and 17% respectively. to Japan increased by 4%. These three markets
Squid exports to Japan in the first half of 2023 accounted for 57%, 30%, and 3% of Vietnam’s
increased by 10% while to South Korea decreased octopus exports, respectively.
Table 88. Vietnam cephalopod exports to main markets, QII/2023 (US$ mil.)
Change Change Change
Market Apr 2023 May 2023 Jun 2023 Change QII 2023
(%) (%) (%)
South Korea 17.724 -7.8 16.565 -27.0 17.101 -34.9 51.389 -24.6
CPTPP 14.873 -5.2 15.431 4.9 14.911 -10.8 45.216 -4.0
Japan 13.257 -0.6 13.273 9.9 13.508 -4.0 40.039 1.4
Malaysia 0.799 -24.0 1.544 18.3 0.615 -50.5 2.958 -17.8
Australia 0.393 47.6 0.249 -34.9 0.320 -16.9 0.962 -7.0
Thailand 3.947 -6.9 5.169 -14.5 6.577 8.0 15.693 -4.1
China &HK 5.208 -11.0 7.091 -4.8 4.777 -22.0 17.076 -12.1
Hong Kong 0.381 -18.6 0.527 -58.7 0.645 -16.0 1.553 -38.2
EU 4.438 -32.9 3.018 -52.1 3.861 -42.0 11.318 -42.2
Italy 1.663 -49.8 1.550 -25.2 1.741 -27.6 4.954 -36.4
Spain 0.822 -37.8 0.399 -46.4 0.439 -37.0 1.661 -39.9
France 0.371 -39.5 0.215 -77.8 0.450 -15.4 1.036 -51.0
US 1.502 -49.2 1.581 -47.4 1.474 -31.0 4.557 -43.7
Taiwan 1.298 104.9 1.265 69.0 0.940 21.2 3.503 62.4
Philippines 0.089 -83.8 0.605 79.0 0.832 125.2 1.526 21.4
Others 1.145 7.8 1.129 -38.2 1.031 -49.3 3.305 -32.8
Total 50.225 -11.6 51.855 -17.8 51.504 -23.3 153.584 -17.9
Figure 55. Import markets of Vietnam’s cephalopods, Figure 55. Import markets of Vietnam’s cephalopods,
Jan - Jun 2022 Jan - Jun 2023
China & HK China & HK
10.5% 9%
Thailand S. Korea Thailand

9.2% 35% 10%
S. Korea
35.9% Others
Others
8%
8.6%
EU
CPTPP 8%
CPTPP
EU 25.7% 30%
10.0%

Table 89. Vietnam cephalopod exports to main markets, QI- QII/2023 (US$ mil.)
Market QI/2023 Change (%) QII/2023 Change (%) Jan- Jun 2023 Change (%)
South Korea 49.659 -9.8 51.389 -24.6 101.048 -18.0
CPTPP 42.923 4.5 45.216 -4.0 88.138 -0.02
Japan 37.422 4.2 40.039 1.4 77.461 2.7
Malaysia 3.617 39.5 2.958 -17.8 6.575 6.2
Australia 0.820 36.6 0.962 -7.0 1.783 9.0
Thailand 13.709 -10.4 15.693 -4.1 29.402 -7.1
China &HK 10.106 -39.5 17.076 -12.1 27.182 -24.8
Hong Kong 1.410 22.1 1.553 -38.2 2.963 -19.2
EU 12.189 -17.9 11.318 -42.2 23.508 -31.7
Italy 4.853 -6.4 4.954 -36.4 9.807 -24.4
Spain 1.904 -28.5 1.661 -39.9 3.565 -34.3
France 1.518 -31.8 1.036 -51.0 2.555 -41.2
US 4.401 -33.4 4.557 -43.7 8.958 -39.1
Taiwan 1.275 -37.5 3.503 62.4 4.778 13.8
Philippines 1.398 350.3 1.526 21.4 2.924 86.6
Others 2.687 -34.5 3.305 -32.8 5.992 -33.6
Total 138.346 -11.3 153.584 -17.9 291.930 -14.9
Table 90. Top 10 export markets of Vietnam squid and cuttlefish, Jan - Jun 2023
No Markets Value No Markets Value
1 Japan 40.154 6 Malaysia 6.252
2 South Korea 30.524 7 US 5.793
3 Thailand 28.345 8 Taiwan 3.143
4 China &HK 23.908 9 Philippines 2.772
5 Italy 7.971 10 France 2.555
Table 91. Top 10 export markets of Vietnam octopus, Jan - Jun 2023
No Markets Value No Markets Value
1 South Korea 70.524 6 Taiwan 1.635
2 Japan 37.307 7 Spain 1.631
3 China &HK 3.274 8 Thailand 1.057
4 US 3.165 9 The Netherlands 0.644
5 Italy 1.836 10 Russia 0.563
2.1. South Korea

South Korea is still the largest import market cephalopod exports to South Korea reached
for Vietnam’s cephalopods, accounting for 25% US$51 million, showing a significant 25%
of the total export value. In the first 6 months decrease compared to the same period last year.
of 2023, cephalopod exports to South Korea This decline was even sharper than the 10%
reached US$101 million, down 18% compared decrease recorded in the first quarter of 2023. The
to the same period in 2022. drop in exports to Korea during the first 3 months
of the second quarter was continuous, with the
In the second quarter of 2023, Vietnam’s

strongest decline seen in June. The decrease in compared to octopus exports. Among the squid
exports was mainly due to higher export prices. products exported to Korea, processed squid
Moreover, South Korea also tended to increase and live/fresh/frozen squid saw a slight growth
imports from South American sources like Peru of 6% and 2%, respectively, while the export
and Chile, or Mauritania. value of dried and grilled squid decreased by
14% compared to the same period last year.
According to statistics, octopus is Vietnam’s main
export product to the Korean market in H1 2023,
accounting for 70%, and squid accounting for
30%. Of which, dried/salted/live/fresh/frozen
octopus products account for 65% of the total
export value. Processed octopus recorded
positive export results with a growth of 58% in
the first 2 quarters of 2023.
In the first half of this year, squid exports from
Vietnam to South Korea slightly decreased
Fig 57. Vietnam’s cephalopod exports to South Korea, 2022-2023

US$ mil. %
35 50
30 40 40
30
25
20
20 10
15 -8 0
-19 -10
10
-26 -27 -20
5 -35 -30
0 -40
2022 2023 Growth (%)
Table 92. Vietnam cephalopod products exported to South Korea, Jan - Jun 2023 (US$ mil.)
Squid (1) 30.524 30.2 -4.3
incl: - Other processed squid (HS code16) 2.837 5.7
- Frozen/fresh/live squid (HS code 03) 16.039 2.0
Octopus (2) 70.524 69.8 -22.8
Total (1 + 2) 101.048 100.0 -18.0
South Korea mainly imports from Vietnam frozen cut octopus, frozen whole octopus, peeled dried
squid, frozen processed squid.

Fig 58. Average export price of frozen cephalopod from Vietnam to S. Korea, Jan 2022 - Jun 2023 (USD/kg)
13.8
12.9 12.5 13.2
11.7 12.0 12.1 11.3
11.2 11.4 11.3 11.6
9.8 10.0 10.6 10.2 9.5
10.4
7.0 7.4 7.3 7.3 7.3 7.4 7.5 7.4 7.2 7.0 6.8 6.8 6.8 6.9 6.8 6.9
6.6 6.6
JAN- FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC JAN- FEB MAR APR MAY JUN
22 23
Squid & Cutllefish Octopus
In the first half of 2023, the average export price of experienced a sudden increase to US$13.8/kg in
frozen octopus products from Vietnam to South April but then showed a decrease trend in May
Korea ranged from US$6.6-6.9/kg. Meanwhile, and June. On the other hand, the average export
frozen squid products had a higher average price of frozen octopus from Vietnam to South
export price, ranging from US$9.5-13.8/kg. Korea remained relatively stable throughout the
Notably, the average export price of frozen squid first half of the year.
Table 93. Top 10 Vietnam cephalopod exporters to South Korea, Jan - Jun 2023
1 HOP TAN SEAFOOD CORP 9.0
2 KIEN CUONG SEAFOOD 7.7
3 PHU QUY CO., LTD 7.0
4 MAI LINH CO., LTD 5.2
5 HAVICO 5.1
6 MEKONG SEAFOODS CO., LTD 5.0
7 TUNG CHAU CO., LTD 4.9
8 NGOC TUNG CO., LTD 3.2
9 THE KHANH CO., LTD 3.0
10 HUY NAM CO., LTD 2.8
(VASEP, FRO)
Table 94. Top 10 suppliers of cephalopod to South Korea, Jan - May 2023
(Value: thounsand USD)
Suppliers Jan- May 2022 Jan- May 2023 Change (%)
Total 377,365 420,430 11.4
China 167,938 180,537 7.5
Peru 38,947 83,617 114.7
Vietnam 101,131 87,717 -13.3
Thailand 24,277 18,286 -24.7
Mauritania 8,228 12,623 53.4
Argentina 6,868 4,987 -27.4
Chile 2,019 4,939 144.6
Philippines 3,734 6,172 65.3
Indonesia 7,392 7,717 4.4
Taipei, China 2,253 1,194 -47.0

According to ITC data, Korea’s imports of suppliers, imports of cephalopod from Vietnam
cephalopods from other countries in the first 5 to Korea decreased by 13%, imports from China
months of 2023 increased by 11% to more than increased by 7%, imports from Peru increased
US$420 million. Vietnam is the second largest sharply by 115%.
supplier of cephalopod ini this market after Frozen octopus is the most imported product
China. China and Vietnam accounted for 43% to Korea, accounting for 32% of the total import
and 21% of the total import value cephalopods. value of cephalopod products into this market.
In the first 5 months of 2023, among the 3 main
Table 95. Cephalopod products imports into South Korea, Jan - May 2023
HS Products Jan- May 2022 Jan- May 2023 Change (%)
code Total 377,365 420,430 11.4
030743 Frozen squid and cuttlefish 99,966 131,576 31.6
030752 Frozen octopus 151,054 133,787 -11.4
160554 Processed squid and cuttlefish (excl smoked) 50,677 76,524 51.0
030751 Live/fresh/chilled octopus 48,389 48,943 1.1
030749 Frozen cuttlefish "Sepia officinalis. Rossia macrosoma. 10,627 12,227 15.1
160555 Processed octopus 16,240 16,926 4.2
030742 Live/fresh/chilled squid and cuttlefish 19 187 884.2
030759 Smoked/frozen/dried/salted/in brine octopus 393 260 -33.8
2.2. Japan
Japan is the second largest single cephalopod Exports of cephalopod to Japan in the first
import market of Vietnam, accounting for 19%. quarter and second quarter of this year both
Among the top 4 largest import markets of recorded positive growth of 4% and 2% over the
Vietnam’s cephalopods, exports to Japan have same period. Japan’s domestic production of
the most positive signals. In the first 6 months this product is declining while Japan’s demand
of 2023, Vietnam’s cephalopod exports to Japan for convenient, instant products is increasing.
increased by 3% to reach $77 million. This is a factor promoting Vietnam’s cephalopod
exports to Japan.
Fig 59. Vietnam’s cephalopod exports to Japan, 2022-2023

US$ mil. %
20 80
61 60
15
40
10 10 20
-1 -4
1
0
5 -24
-20
0 -40
2022 2023 Growth (%)

Table 96. Vietnam cephalopod products exported to Japan, Jan- Jun 2023 (US$ mil.)
Squid (1) 40.154 51.8 10.1
incl: - Other processed squid (HS code16) 4.902 37.0
Octopus (2) 37.307 48.2 -4.2
incl: - Processed octopus (HS code16) 16.347 -2.0
Total (1 + 2) 77.461 100.0 2.7
In the structure of Vietnam’s cephalopod products Japan did not import dried/grill squid from Vietnam.
exported to Japan, the proportion of squid and Vietnam currently mainly exports to Japan products
octopus exports to this market is almost equivalent, such as dried squid whiskers, frozen sliced squid,
squid accounting for 48.2% and octopus accounting cleaned and frozen cuttlefish, pinecone cut squid,
for 51.8%. frozen cuttlefish fillet, frozen cuttlefish, squid frozen
In the first half of this year, squid exports to Japan button, frozen processed octopus, frozen cooked
increased while octopus exports to this market octopus.
decreased. Export of squid reached more than The average export price of frozen squid from
US$40 million, up 10%, of which processed squid Vietnam to Japan in the first two quarters of 2023
increased the most by 37% to US$4.9 million. The ranges from US$9.3/kg to US$10.7/kg, the average
export value of live/fresh/frozen squid reached export price of frozen octopus ranges from US$8.8-
US$35 million, up 7%. In the first half of this year, 9.9/kg.
Fig 60. Average export price of frozen cephalopod from Vietnam to Japan, Jan 2022-Jun 2023 (USD/kg)
15
9.5 9.1 9.6 9.5 10.0 9.9 9.9 10.0 9.6 9.8 10.1 10.3 8.8 9.8 9.9 9.8 9.6 9.7
10
10.7 10.5 10.2
9.0
10.3 9.4 9.2 9.7 9.3 9.6 10.3 10.2 10.2 10.3 10.4 9.6 9.3
5 8.4
Table 97. Top 10 Vietnam cephalopod exporters to Japan, Jan - Jun 2023
1 BASEAFOOD 1 13.3
2 HUY NAM CO., LTD 10.3
3 KIHUSEA VN 6.3
4 MINH DANG CO., LTD 5.7
5 FIDECO 4.6
6 VIFOODS 4.0
7 MFVN CO.,LTD 3.6
8 MINHHASEAFOOD CO.,LTD 3.2
9 HAI WANG SEAFOOD CO., LTD 3.1
10 AQUAPEXCO 3.0
(VASEP, FRO)

According to ITC, Japan’s imports of cephalopod in from China to Japan decreased by 3%, from Vietnam
the first 4 months of 2023 reached US$408 million, increased slightly by 5%. Imports from other main
up 16% over the same period last year. Vietnam sources such as Mauritania increased sharply by
ranks third after China and Mauritania. 403%. Imports from Peru, Indonesia also grew by
triple digits.
Among the largest suppliers, imports of cephalopod
Table 98. Top cephalopod suppliers to Japan, Jan – Apr 2023 (Value: thousand USD)
Suppliers Jan- Apr 2022 Jan- Apr 2023 Change (%)
Total 351,324 408,501 16.3
China 201,738 196,565 -2.6
Mauritania 9,954 50,118 403.5
Vietnam 43,764 46,067 5.3
Morocco 20,540 21,713 5.7
Peru 10,921 22,247 103.7
Thailand 15,381 15,935 3.6
Indonesia 6,317 13,201 109
US 5,446 7,980 46.5
India 4,549 4,943 8.7
Taipei, China 511 2,282 346.6
Argentina 1.198 1.298 8,3
Somalia 132 636 381,8
Hàn Quốc 252 509 102,0
Table 99. Cephalopod products imported into Japan, Jan - Apr 2022 (Value: thousand USD)
HS
Products Jan- Apr 2022 Jan- Apr 2023 Change (%)
code
Total 351,324 408,501 16.3
030743 Frozen squid and cuttlefish 155,874 172,386 10.6
030752 Frozen octopus 73,974 114,930 55.4
160554 Processded squid and cuttlefish nang (ex. smoked) 86,999 86,894 -0.1
160555 Processded octopus (ex. smoked) 26,475 28,514 7.7
Cuttlefish "Sepia officinalis. Rossia macrosoma. Sepiola spp."
030749 7,985 5,675 -28.9
and squid "Ommastrephes spp.. ...
030751 Live/ fresh/chilled octopus 11 100 809.1
2.3. China & HK

China & HK is the 4th largest single cephalopod product group of Vietnam to China & HK accounts
import market of Vietnam in the first 2 quarters of for 88%, octopus only accounts for 12%. In the
2023, accounting for 6.7%. Vietnam’s cephalopod first half of 2023, octopus exports to China & HK
exports to China & HK in the first two quarters of grew by 44% while squid exports decreased by
2023 reached US$27 million, down 25% over 29%. Export value of processed octopus to China
the same period. Cephalopod exports to China & & HK increased by 62% to nearly US$1 million.
HK in the second quarter of this year decreased Export of dried/salted/live/fresh/frozen octopus
slightly compared to the previous quarter. reached US$ 2.3 million, up 38% over the same
period.
Squid products continue to be the main export

Fig 61. Vietnam’s cephalopod exports to China & HK, 2022-2023

US$ mil. %
10 0
-5 -5
-11 -10
8
-20
-22
6 -30
-37
4 -40
-50
2 -60 -60
0 -70
2021 2022 Growth (%)
Table 100. Vietnam cephalopod products exported to China & HK, Jan- Jun (US$ mil.)
Squid (1) 23.908 88.0 -29.4
Octopus (2) 3.274 12.0 44.5
- Dried/salted/live/fresh/frozen octopus (HS code 03) 2.307 38.2
Total (1 + 2) 27.182 100.0 -24.8
For squid products exported to China & HK, the In the first 5 months of 2023, China imported
export value of live/fresh/frozen squid increased 227,000 tons of cephalopod products worth 3.9
by 19%; exports of the remaining products all billion CNY. This marks a significant increase of
grew negative double digits. 79% in import volume and 80% in import value
compared to the same period last year. The
China imports mainly from Vietnam products such
primary imported products are frozen cuttlefish
as dried squid, dried squid and cuttlefish, frozen
and squid, which account for 84% of the total
cleaned whole cuttlefish, frozen graded squid,
import value, followed by processed or canned
frozen Tempura breaded squid, dried squid, frozen
squid and cuttlefish at 13%.
octopus cut, frozen cleaned whole octopus.
Fig 62. Average export price of frozen cephalopod from Vietnam to China & HK, Jan 2022 - Jun 2023 (USD/kg)
12
10 9.8
8 8.6
6 3.5 4.1
3.6 5.3 5.3
4 4.3 1.5 2.5 2.4
3.2 2.9 2.8
2 2.7 2.5 2.3 2.4 2.5 2.6 2.5 2.4 2.5 2.7 2.3 2.8 1.9 2.6 2.4
0 1.7 2.1 2.1 2.3 2.5 2.3 2.4

Table 101. Top 10 Vietnam cephalopod exporters to China & HK, Jan- Jun 2023
1 AN KHANG THINH DEVELOPMENTAL INVESTMENT CO., LTD 15.3
2 GIA BAO IMPORT-EXPORT TRADING CO., LTD 14.1
3 A CHAU HOA THANH CO., LTD 12.5
4 SAI GON AGRIPRODUCT SEAFOOD CO.,LTD 9.4
5 DAM BAO TRADING CO., LTD 7.7
6 SOUTH ASIA PACIFIC SERVICE TRADING CO., LTD 7.1
7 THINH MINH HIEN CO., LTD 4.2
8 NAM DUONG PHAT TRIEN CO., LTD 4.0
9 BASEAFOOD 1 CO.,LTD 2.5
10 BARDO FOODS DEVELOPMENT CO.,LTD 2.2
(VASEP, FRO)
2.4. EU
The EU market accounts for 5.8% of the total value the Russia-Ukraine conflict causing energy prices
of Vietnam’s cephalopod. Vietnam’s cephalopod in the EU to skyrocket, compilcated procedures
exports to the EU in the first half of 2023 reachedfor confirmation and certification to export to
US$24 million, down 32% over the same period. this market. Inadequately, people’s spending is
In all three months of the second quarter of 2023, affected by the record high inflation here.
Vietnam’s cephalopod exports to this market
dropped sharply by double digits. Economic
instability due to the Russia-Ukraine conflict is
part of the reason for the decrease in EU import
demand during this time.
Specifificaly, Vietnam’s cephalopod exports to
the three major importers in this bloc (Italy, Spain
and France) all declined by double digits in the
first two quarters of 2023.
Moreover, Vietnam’s cephalopod exports to the
EU in 2023 are affected by the IUU yellow card,
Fig 63. Vietnam’s cephalopod exports to EU, 2022-2023
US$ mil. %
12 60
42
10 40
8 20
6 0
-19
4 -33 -20
-39 -42
2 -52 -40
0 -60
2022 2023 Growth (%)

Table 102. Vietnam cephalopod products exported to EU, Jan - Jun 2023 (US$ mil.)
Squid (1) 18.761 79.8 -32.5
- Dried/smoked squid (HS code 03) 0.060 97.2
- Frozen/fresh/live squid (HS code 03) 16.721 -27.7
Octopus (2) 4.747 20.2 -28.3
incl: - Processed octopus (HS code16) 0.447 -54.5
- Dried/ salted/ live/ fresh/ chilled octopus (HS code 03) 4.300 -23.8
Total (1 + 2) 23.508 100.0 -31.7
Fig 64. Average export price of frozen cephalopod from Vietnam to Italy, Jan 2022-Jun 2023 (USD/kg)
10
8 8.1
6.6 7.0 6.8 7.3 6.8 7.0 7.1
6 6.1 6.2 6.0
5.9 6.0 6.4 6.4 6.5
6.4 6.0 6.3 6.4 6.1
6.0 6.3
6.2
5.4 5.4 5.7 5.5 5.1 5.4 5.4
5.3 5.2
4.9 4.9 4.6
4
2
0
Table 103. Top 10 Vietnam cephalopod exporters to Italy, Jan - Jun 2023
1 MINH DANG CO., LTD 22.8
2 HAI WANG SEAFOOD CO., LTD 16.2
3 THANH HAO SEAFOOD CO., LTD. 10.0
4 HUY NAM SEAFOOD CO., LTD. 6.9
5 NVD SEAFOOD CO., LTD 5.8
6 HAI TRI IMPORT EXPORT CORP 5.5
7 MINH KHUE SEAFOODS CO., LTD 5.1
8 THINH PHU AQUATIC 3.0
9 NHAT TAM SEAFOOD IMEX CO., LTD 2.8
10 MINHHASEAFOOD CO., LTD 2.8
(VASEP, FRO)
3. Cephalopod imports
In the first half of 2023, Vietnam’s imported more
than US$ 158 million of cephalopod, down 9%
compared to the same period in 2022.
Indonesia is the largest supplier of cephalopods
to Vietnam, accounting for 44% of the proportion.
Compared to the same period in 2022, imports
from Indonesia decreased by 22%, reaching US$69
million.

Table 104. Vietnam’s cephalopod imports, Jan - Jun 2023

No Suppliers Value Change (%) No Suppliers Value Change (%)
1 Indonesia 69,553,852 -21.9 15 Japan 1,239,853 -12
2 India 22,874,383 12.8 16 Myanmar 922,070 -51.9
3 China &HK 14,129,114 -10.7 17 Morocco 820,446 802
4 Oman 7,513,655 170.1 18 Mexico 550,900
5 Taiwan 7,143,305 -39.3 19 Vanuatu 271,257
6 Argentina 6,630,634 3.4 20 Mauritania 248,081
7 Thailand 6,460,193 29.4 21 QĐ, Falkland 210,523 -57.8
8 Peru 5,101,936 305.4 22 Yemen 141,300 -67.2
9 Pakistan 3,475,874 -56.4 23 Myanmar 44,200
10 South Korea 3,104,231 -13.5 24 Iran 41,513 28.6
11 Philippines 2,605,879 7.6 25 Spain 33,538 24.2
12 US 1,920,744 66.7 26 Australia 7,152 -46.5
13 Chile 1,633,553 290.6 Others 324,772 -60.4
14 Malaysia 1,311,086 58.9 Total 158,314,059
II. MOLLUSK SHELLS

1. Products
than the same period in 2022. In which, clam
After a slight increase of nearly 4% in the first
quarter, Vietnam’s exports of mollusk shell exports accounted for 61% and decreased by
products in the second quarter decreased by 20%22% compared to the first quarter of 2022. Snails
compared to the same period in 2022, reaching exports accounted for nearly 14% of the value
with over US$9 million, up nearly 49%. Exports
over US$33 million. Exports of clam decreased by
of oysters, abalone, and mussels all increased
33%, exports of snails, oysters and other species
was higher than the same period last year. sharply compared to the same period last year.
By the end of June 2023, mollusk shell exports Meanwhile, export of scallops decreased by 10%
reached nearly US$66 million, 10% lower with over US$7.2 million in the first half of the
year, accounting for nearly 11% of the total value.
Table 105. Vietnam shell mollusk exports, by species, QI- QII 2023 (USD)
Change Change Jan - Jun Change Proportion
Products QI QII
(%) (%) 2023 (%) (%)
Hard clam 19,562,041 -5.7 20,566,571 -33.0 40,128,612 -22,0 60.9
Snail 3,667,863 58.4 5,366,522 43.0 9,034,385 48,9 13.7
Scallop 3,916,638 -12.3 3,292,357 -20.2 7,208,995 -16,1 10.9
Oyster 3,655,750 76.8 2,010,866 124.4 5,666,615 91,2 8.6
Mixed products 1,217,003 70.6 922,526 -5.4 2,139,529 26,7 3.2
Clam 211,574 -80.1 688,989 -29.2 900,562 -55,8 1.4
Corbiculidae 252,151 99.0 224,746 23.0 476,897 54,1 0.7
Abalone 151,160 197.5 63,055 -4.5 214,215 83,3 0.3
Mussel 82,564 13.660.6 26,247 14.011.5 108,811 13743,6 02
Mytilus californianus 4,150 -59.4 4,150 -59,4 0
Geoduck clam -100 -100 0
Total 32,716,743 3.7 33,166,029 -20.4 65,882,772 -10,0 100

Table 106. Vietnam shell mollusk exports, by products, QI- QII 2023 (USD)
Change Change Jan - Jun Change Proportion
Product QI QII
(%) (%) 2023 (%) (%)
Live/ fresh/ frozen 11,094,797 16.5 12,696,215 33.4 23,791,012 24.9 36.1
Processed 21,621,946 -1.8 20,469,813 -36.3 42,091,759 -22.3 63.9
Total 32,716,743 3.7 33,166,029 -20.4 65,882,772 -10.0 100
Approximately 64% of the export turnover, valued at US$ 42 million, comes from processed mollusk
shells (clams, oysters, scallops, etc.). The remaining 36%, worth US$ 24 million and up 25%, comprises
live/fresh/frozen mollusk shell, mainly snails and abalone.
2. Markets
The top 10 import markets of Vietnam’s mollusk

shell in the first half of this year include Spain, Italy,
Japan, Portugal, the US, Denmark, Taiwan, China,
Cambodia and the Netherlands, accounting for
88% of export sales.
The leading markets are still mainly EU countries.
In the top 3 markets, only Japan increased import
of Vietnamese shellfish in the first half of the year,
up 22%. Among European countries, only Portugal
increased by 18% in import value, the others all
decreased by 20-40% over the same period last
year.
Table 107. Vietnam shell mollusk exports, by markets, QI- QII 2023 (USD)
Markets QI Change (%) QII Change (%) Change (%)
2023 (%)
Total 32,716,743 3.7 33,166,029 -20.4 65,882,772 -10.0 100
Spain 4,550,035 -28.0 5,580,356 -28.3 10,130,391 -28.2 15.4
Italy 5,808,346 -9.9 4,299,075 -58.3 10,107,421 -39.7 15.3
Japan 3,942,993 33.0 3,672,631 11.6 7,615,624 21.8 11.6
Portugal 3,477,907 53.2 3,094,048 -6.5 6,571,956 17.8 10.0
US 3,030,102 -6.3 3,421,464 -32.3 6,451,566 -22.2 9.8
Denmark 3,388,442 -15.6 1,972,221 -47.4 5,360,662 -31.0 8.1
Taiwan 3,027,806 47.4 1,126,328 25.5 4,154,134 40.8 6.3
China -100 3,886,996 540.6 3,886,996 513.0 5.9
Cambodia 858,037 484.5 1,168,896 649.4 2,026,932 569.5 3.1
The Netherlands 943,573 2.4 926,158 -58.4 1,869,732 -40.6 2.8
Vietnamese lam was exported to more than 130 markets. Spain, Italy, Portugal, the US and the
Netherlands were the top 5 largest import markets of this product, accounting for more than 80% of
export sales. Only Portugal increased imports of clams, the rest decreased significantly.

Table 108. Top 5 main exports market of Vietnam’s clam, QI-QII 2023 (USD)
Market QI Change (%) QII Change (%) Change (%)
2023 (%)
Total 19,562,041 -5.7 20,566,571 -33.0 40,128,612 -22.0 100
Spain 4,550,035 -28.0 5,580,356 -28.3 10,130,391 -28.2 25.2
Italy 5,791,846 -10.1 4,299,075 -58.3 10,090,921 -39.8 25.1
Portugal 3,477,907 53.2 3,094,048 -6.5 6,571,956 17.8 16.4
US 2,004,807 -0.6 2,432,679 -28.7 4,437,486 -18.2 11.1
The Netherlands 935,525 4.4 903,693 -58.1 1,839,218 -39.8 4.6
III. CRAB
1. Overview
In the second quarter of 2023, Vietnam’s exports economic situation in other countries is causing
of crabs and other crustaceans continued to the demand for crabs to decrease in most of the
decline continuously month by month. The main markets and adversely affecting domestic
export value of crabs and other crustaceans in production, causing a decrease in the number of
this quarter only reached nearly US$42 million, export orders.
down 19% compared to the same period in In H1 2023, exports of processed crab and other
2022. Accumulated in the first 6 months of 2023, crustacean products, excluding canned products,
Vietnam’s exports of crabs and other crustaceans tend to increase over the same period. While
reached more than US$71 million, down 31% exports of raw, fresh, frozen, salted or canned
over the same period last year. The unstable products decreased.
US$ mil. Fig 65. Vietnam’s crabs and other crustaceans exports, Jan 2022-Jun 2023 (US$ mil.) %
12
30 060 %
42
10
25 -10 40
-10
US$ mil.
-14
8
20 20
-20
6
15 0
-30
-19 -33
4 -37 -33 -20
10 -40
-43 -39 -42
25 -50 -52 -40
-50
00 -60
Jan
T1 Feb
T2 Mar
T3 Apr
T4 May
T5 Jun
T6 Jul
T7 Aug
T8 Sep
T9 Oct
T10 Nov
T11 Dec
T12
2022
2022 2023
2023 Tăng
Growthtrưởng
Growth (%)
Table 109. Vietnam's exports of crabs and other crustaceans, by species, QII/2023 (thousand USD)
Apr Change May Change Jun Change Change Proportion
Products QII/2023
2023 (%) 2023 (%) 2023 (%) (%) (%)
Crab 7,162 -28 9,739 -17 9,863 -12 26,763 -18 65.7
Swimming
4,323 -39 3,923 -7 6,387 -8 14,633 -20 33.0
crab
Sesarmid 114 -10 73 19 186 434 373 68 1.3
Varunidae 0 -100 0 -100 0 0 -100 0
Total 11,599 -33 13,735 -14 16,436 -10 41,770 -19 100

Table 110. Vietnam's exports of crabs and other crustaceans, by species, QI-QII 2023 (thousand USD)
Products QI/2023 Change (%) QII2023 Change (%) Jan- Jun 2023 Change (%)
Crab 20,212 -32,8 26,763 -18 46,976 -25
Swimming crab 8,947 -57,8 14,633 -20 23,580 -40
Sesarmid 538 61,4 373 68 911 64
Varunidae 0 -100 0 -100 0 -100
Total 29,697 -42,5 41,770 -19 71,466 -31
Table 111. Vietnam's exports of crabs and other crustaceans, by product, Jan - Jun 2023 (thousand USD)
Jan- Jun Jan- Jun Proportion
Product Change (%)
2022 2023 (%)
Processed crabs and other crustaceans (HS code 16) 20,372 25,845 27 36.2
Canned crabs and other crustaceans (HS code 16) 25,686 11,804 -54 16.5
Dried/ salted/ raw/ fresh/ frozen crab and other crustaceans (HS code 03) 56,899 33,818 -41 47.3
Total 102,958 71,466 -31 100
2. Market
Compared to the same period in 2022, Vietnam’s Currently, Japan is still leading this market block
export market of crabs and other crustaceans is in importing crabs from Vietnam in the first 6
narrower. By the end of June, Vietnamese crabs months of the year, accounting for nearly 95%
and other crustaceans have been exported to 26 of the total export value, reaching nearly US$35
markets around the world. Japan, US, China and million, up 59%.
Hong Kong, EU, UK and Canada are the 6 biggest Meanwhile, exports of crabs and other
import markets. crustaceans to the US, China, Hong Kong, the UK,
In the CPTPP market, the export turnover of crabs and the EU continued to decline over the same
to this market in the second quarter of 2023 period by 38%, 74%, 23%, and 55%, respectively.
continued to increase over the same period, Surprisingly, crab and other crustaceans exports
up 39%, reaching more than US$22 million. to the UK increased ‘gallopingly’ in May.
Table 112. Vietnam's crab exports, by markets, QII/2023 (million USD)

Market Apr 2023 May 2023 Jun 2023 QII/2023
(%) (%) (%) (%)
CPTPP 6.514 47.0 7.310 45.8 8.483 28.7 22.307 39.1
Japan 6.196 43.4 7.113 53.3 7.975 27.8 21.284 40.0
Canada 0.140 800.1 0.004 -98.3 0.368 63.1 0.513 5.2
Australia 0.124 163.2 0.107 14.7 0.075 87.5 0.307 69.6
US 2.894 -55.6 3.233 -20.3 6.174 9.3 12.301 -24.2
China &HK 1.272 -74.9 2.081 -61.6 0.622 -86.7 3.975 -73.8
Hong Kong 0.121 -77.6 0.217 -75.6 0.316 -48.9 0.653 -68.0
EU 0.699 121.4 0.157 -78.1 0.182 -55.1 1.039 -27.9
France 0.656 112.8 0.121 -77.8 0.169 -48.1 0.945 -19.8
Belgium 0.036 -55.6 0.014 -50.6 0.050 -55.4
Italy 0.044 0.044
UK 0.079 -68.2 0.576 373.9 0.091 -58.6 0.746 26.3
South Korea 0.096 -67.1 0.204 -44.5 0.377 27.0 0.677 -29.3
Norway 0.268 0.268 42.8
Others 0.043 -69.2 0.174 -26.7 0.240 -30.4 0.458 -36.7
Total 11.599 -32.6 13.735 -13.8 16.436 -9.6 41.770 -18.6

Table 113. Vietnam's crab exports, by markets, Jan - Jun (million USD)
CPTPP 14.405 82.4 22.307 39.1 36.712 53.4
Japan 13.519 100.7 21.284 40.0 34.802 58.7
Canada 0.651 2.4 0.513 5.2 1.164 3.6
Australia 0.132 -69.1 0.307 69.6 0.438 -27.7
US 9.572 -49.2 12.301 -24.2 21.873 -37.6
China &HK 3.466 -82.7 3.975 -73.8 7.441 -78.8
Hong Kong 1.771 9.4 0.653 -68.0 2.424 -33.8
EU 0.487 -74.7 1.039 -27.9 1.526 -54.7
France 0.388 -76.5 0.945 -19.8 1.333 -52.9
Belgium 0.029 -52.4 0.050 -55.4 0.080 -54.3
Italy 0.033 0.044 0.077
UK 0.589 -48.7 0.746 26.3 1.335 -23.3
South Korea 0.387 -42.3 0.677 -29.3 1.064 -34.6
Norway 0.245 -25.8 0.268 42.8 0.513 -1.0
Others 0.545 -34.4 0.458 -36.7 1.003 -35.5
Total 29.697 -42.5 41.770 -18.6 71.466 -30.6
Fig 66. Import markets of Vietnam crab and other Fig 66. Import markets of Vietnam crab and other
crustaceans in H1/2023 crustaceans in H1/2022
The US
EU 30.6% China & HK
2.1% 34.2%
China &HK The US

10.4% 34.1%
UK
UK 1.7%
1.9%
Others
3.6%
Others
3.6%
CPTPP EU
3.3% CPTPP
51.4% 23.2%
Table 114. Top 10 Vietnam’s crab exporters, Jan- Jun 2023

No Company Proportion (% Value)
1 TRUNG SON LONG AN CO., LTD 24
2 TRUNG SON HUNG YEN FOODSTUFF CORP 12
3 PHILLIPS SEAFOOD (VIETNAM) CO., LTD 10
4 PATAYA FOOD INDUSTRIES (VIETNAM) LIMITED 7
4 TRANS PACIFIC SEAFOOD CO., LTD 7
6 THAI HOA FOODS 6
7 TRINITY VIETNAM CO., LTD 5
8 VIETROSCO 3
9 HOANG HA INTERNATIONAL LOGISTICS 3
10 ANPRO CO., LTD 3

IV. FISHCAKE, SURIMI

1. Overview
In the second quarter of 2023, Vietnam’s exports of fish cakes and surimi continued to decrease. The
export value of fish cakes and surimi of Vietnam in this quarter decreased by 29%, reaching US$76
million. Therefore, in the first 6 months of the year, Vietnam’s exports of fish cakes and surimi still
decreased by 26%, reaching US$144 million.
US$ mil. %
Fig 68. Vietnam’s fishcake and surimi exports, Jan 2022- Jun 2023 (US$ mil.)
12 60
50 42 11
8
US$ mil.
10 40
40 0
8 20
30 -11
6 0
-19 -16
20
4 -33 -22
-20
-39 -28 -42
10
2 -35 -52 -33
-40
-36
-39
00 -60
-44
Jan
T1 Feb
T2 Mar
T3 Apr
T4 May
T5 Jun
T6 Jul
T7 Aug
T8 Sep
T9 Oct
T10 Nov
T11 Dec
T12
2022
2022 2023
2023 Growth
Tăng (%)
trưởng
Growth
2. Export markets
Vietnam’s fish cakes and surimi products have of this group of products to major markets have
been exported to more than 33 markets around mostly decreased. Specifically, exports to Korea
the world. Exports to South Korea, Thailand and decreased by 24%, Thailand by 38%, China by
China, accounting for 54% of the total export 23%. However, there are also some markets that
turnover of fish cakes and surimi of Vietnam in are increasing imports of this group of products
the first 6 months of this year. from Vietnam such as the US, Indonesia, Lithuania
In the first 6 months of the year, Vietnam’s exports or France.
Figure 69. Import markets of Vietnam’s fishcake and surimi Figure 69. Import markets of Vietnam’s fishcake and surimi
in H1 2023 in H1 2022
Indonesia
Thailand 6.5% Indonesia
Thailand 2.3%
21.1%
24.8% Others
Others
12.0%
9.0%
China & HK
11.9% China & HK
CPTPP CPTPP
21.4% 11.3%
23.8%
The US The US
6.4% 2.8%
S. Korea S. Korea
23.8% 23.0%

In the US market, Vietnam’s exports of fish cakes Indonesia also increased, however, exports to
and surimi grew continuously in the second this market showed signs of decline in June.
quarter of 2023. Therefore, the US continues
Currently, seafood exporters are facing difficulties
to be Vietnam’s sixth largest import market,
in terms of raw materials and high production
accounting for 6% of total export turnover in
costs. In addition, the IUU yellow card that has
the first 6 months of the year. Along with the
not been removed is still a challenge for the
US, Vietnam’s exports of fish cakes and surimi to
export activities of this industry.
Table 115. Vietnam fish cake, surimi exports to main markets, QII 2023 (USD)
Change
Market Apr 2023 Change (%) May 2023 Change (%) Jun 2023 QII/2023 Change (%)
(%)
South Korea 4.801 -45.7 5.611 -13.0 4.821 -30.1 15.234 -31.3
CPTPP 4.527 -50.0 7.887 -16.1 6.132 -25.5 18.546 -30.5
Japan 1.815 -52.5 5.028 -12.3 3.966 -14.2 10.809 -23.8
Malaysia 1.772 -55.3 2.031 -32.2 1.114 -61.7 4.917 -50.2
Singapore 0.696 -22.7 0.711 77.3 0.675 15.8 2.082 10.5
Thailand 4.954 -43.5 4.496 -51.6 4.576 -48.6 14.026 -48.0
China &HK 3.231 -8.1 2.850 -30.3 2.673 -47.1 8.753 -30.8
Hong Kong 0.022 -75.9 0.166 -14.4 0.022 -81.8 0.209 -48.1
Indonesia 0.879 90.0 4.047 119.9 1.691 -4.1 6.617 62.7
US 1.646 62.6 1.939 98.2 1.397 31.6 4.982 63.2
EU 1.042 -0.2 1.306 45.9 1.066 69.7 3.415 33.0
Lithuania 0.269 283.1 0.581 8.3 0.488 127.4 1.338 63.0
Finland 0.501 0.305 0.398 1.204
France 0.257 21.3 0.178 -13.9 0.151 145.5 0.586 22.1
Taiwan 0.666 -62.7 0.706 -55.0 0.364 -73.6 1.736 -63.4
Belarus 0.729 260.2 0.412 100.7 0.324 1.465 259.4
Others 0.729 260.2 0.412 100.7 0.324 1.465 259.4
Total 22.761 -34.7 29.882 -16.2 23.335 -35.8 75.978 -28.9
Table 116. Vietnam fish cake and surimi exports to main markets, Jan - Jun 2023 (USD)
South Korea 18.866 -16.6 15.234 -31.3 34.100 -23.9
CPTPP 12.155 -38.3 18.546 -30.5 30.702 -33.8
Japan 5.829 -36.4 10.809 -23.8 16.638 -28.7
Malaysia 4.102 -43.9 4.917 -50.2 9.019 -47.5
Singapore 1.821 -25.2 2.082 10.5 3.903 -9.6
Thailand 16.217 -24.3 14.026 -48.0 30.243 -37.5
China &HK 8.353 -11.9 8.753 -30.8 17.106 -22.7
Hong Kong 0.349 134.2 0.209 -48.1 0.558 1.2
Indonesia 2.718 618.1 6.617 62.7 9.335 110.0
US 4.180 72.5 4.982 63.2 9.162 67.3
EU 2.816 10.8 3.415 33.0 6.231 21.9
Lithuania 1.808 95.3 1.338 63.0 3.146 80.1
Finland 0.203 1.204 1.406
France 0.414 -30.3 0.586 22.1 1.001 -6.9
Taiwan 0.907 -76.9 1.736 -63.4 2.643 -69.5
Belarus 0.567 -65.0 1.465 259.4 2.032 0.1
Others 0.567 -65.0 1.465 259.4 2.032 0.1
Total 67.591 -23.5 75.978 -28.9 143.569 -26.4
Nguồn:VASEP (theo số liệu của Hải quan Việt Nam)

CHAPTER VI:
OPPORTUNITIES - CHALLENGES -
FORECAST

CHAPTER VI: OPPORTUNITIES – CHALLENGES – FORECAST
I. OPPORTUNITIES - CHALLENGES
The year 2023 is a low point for Vietnam’s seafood as the US, EU, China... After Covid, other countries
industry in the face of the effects of the economic also restored production, taking advantage of
recession, global inflation and difficulties in market opening opportunities. That is the cause
domestic production and processing, plus too of oversupply in many markets.
much competitive pressure from Ecuador, India, Typically, Vietnam’s shrimp products are under
Indonesia... Many things increase and many things competitive pressure in the US, EU and China
decrease, which are detrimental to Vietnamese markets compared to Ecuador and India’s shrimp
seafood enterprises. From the market perspective: products. With the advantage of large supply,
demand decreases, inventories increase, orders low price, and geographical location, Ecuadorian
decrease, competitive pressure increases, import vannamei shrimp flooded the US market,
prices decrease... From an internal perspective: accounting for 27% of the volume, only after
production costs increase (price of feed, seed, India’s dominant 35.4% market share. . In the US,
labor , electricity, water increased), while the Indonesian shrimp also accounted for 21.4% of
supply of raw materials for farming and fishing the import volume, while Vietnam accounted for
decreased; less than 6%.
The average price of Vietnam’s shrimp imports
1. Weak demand in markets in the US in the first five months of this year was
$10.76/kg, 30% higher than the average price
General difficulties of the world such as economic
of India and Indonesia, and 60% higher than
decline, high inflation lead to a decrease in
that of Ecuadorian shrimp. However, in terms of
seafood consumption and import volume in the
structure, Vietnamese shrimp exported to the US
main import markets.
has a larger proportion of large-sized shrimp than
For example, in the US, in the first 5 months other countries.
of this year, the volume of seafood imports
decreased by 11.4% to 1.28 million tons. In which,
shrimp imports decreased by 18%, tuna imports 3. Declines in export prices
decreased by 12%, crab imports decreased by The average export prices of Vietnam key seafood
25%, pangasius imports decreased by 47%, squid products all decreased compared to the same
imports decreased by 32%, octopus imports period last year. In which, the average price of
decreased by 33%, clams decreased by 3%... pangasius for export in the first half of the year
compaired to the same period in 2022 decreased by 19% over the same period.
Many items in the US and EU have had their In the markets, the supply from inventories and
orders reduced because of high inventories after new supplies from other countries flooded in,
importers bought too much to stock up in the first causing prices to drop continuously.
half of 2022.
For example, the average price of US pangasius
imports has decreased by more than 15% in the
2. Competitive pressure on price and supply first 5 months of this year, the price of tuna has
decreased by 8%, the price of squid has decreased
Great competitive pressure in many markets such
by 6%, the price of clams has decreased by 12%...

In China, after reopening the market, although required by commercial banks are complicated
the import volume of seafood still increased by and cumbersome... making it more difficult for
23%, which is a positive signal, the average price farmers to access loans.
of many aquatic species decreased significantly.
In which, the price of imported shrimp and
pangasius decreased by 13%, the price of herring 6. EC’s IUU yellow card and enforcement
decreased by 26%, the price of sardines decreased regulations cause inadequacies for marine
by 35%, the price of tuna decreased by 70%, the seafood enterprises
price of crab decreased by 4%... In June 2023, the EU inspection team went to
Vietnam to inspect food safety issues at fishing
ports, fishing vessels, agents, services, processing
4. Continuous increase of production costs in plants, etc. The EC mission is expected to come to
aquaculture and seafood processing Vietnam to inspected the situation and results of
The fact that production costs are high, especially implementation against illegal, unreported and
the price of feed and seed has increased sharply, unregulated (IUU) fishing in October 2023.
further reducing the competitiveness of Vietnam’s The EU inspection plan along with the action
farmed seafood. plan of the regulatory agencies in the anti-IUU
Due to small-scale farming, not being able to campaign is causing concern for the whole
take the initiative to raise good seed with a high value chain of marine seafood sector. From the
success rate, not being proactive and controlling perspective of regulatory agencies, there is a
the source of quality and good price food, the tendency to tighten controls, review regulations
production cost is high, while the selling price is such as catch statements, catch certificates,
low and cannot be sold. Therefore, enterprises hygiene certificates... There have been moves that
have to reduce the purchase of raw materials and affecting purchasing domestic raw materials as
then reduce the price of raw shrimp. well as imported raw materials. The situation of
That vicious cycle makes farmers fall into a difficult scare raw materials in the country is even more
situation, many people are at risk of defaulting difficult because of regulations and procedures to
and leaving the pond. The consequence is that the export to the EU market.
next stage may lack raw materials.
7. Domestic regulations and administrative
5. Lack of capital to maintain and restore procedures that come into force in 2023 add
production more pressure to businesses
Sales dropped sharply, input costs increased, so the Businesses struggle to maintain and survive
profits of many businesses and farmers dropped through a difficult period in 2023, but they still
sharply. Even many small farming households face inadequacies due to new regulations related
went bankrupt and could no longer keep raising. to social insurance contributions or regulations on
fire prevention and fighting.
Borrowing is very difficult for farmers and SMEs,
because banks are afraid of risks, especially in the In addition, there are many policies, administrative
shrimp industry, which has many small farmers. procedures and other regulations that are making
businesses increasingly difficult in terms of finance
The necessary procedures and documents and resources.

II. FORECAST
1. Scenario 1 US and South Korea will be 24-25% lower than
Vietnam’s seafood exports by the end of July 2023 in 2022, exports to the EU will decrease by 18%.
reached nearly 5 billion USD, down 25% compared Meanwhile, sales to Japan will be better thanks to
to the same period in 2022. In which, the deepest the value of value-added products and thanks to
decrease was still pangasius (-36%), shrimp and the processing segment for this market, especially
tuna decreased by 27 % compared with the same marine fish species.
period last year. The Chinese market is still the biggest expectation
There are 3 factors that will determine the for seafood enterprises, after opening, trade is
optimistic export scenario in the second half of gradually returning to normal. Hopefully in the
the year: second half of the year, the Chinese economy will
be more stable, people’s income and consumption
- Economic developments in major markets are will gradually increase, the market will adapt to
forecasted to be more positive in the second half the new context... then, Vietnam’s seafood exports
of the year, plus the fact that import demand of to the market will have a chance to recover with
markets such as the US and China is tending to a forecast equivalent to the turnover of 2023 of
increase again when inventories are dwindling. ; about 1.8 billion USD.
Importers prepare orders for the year-end festival
and New Year. 2. Scenario 2
- Enterprises and communities producing seafood The less optimistic scenario is when the market has
supply chains have easier access to capital, shown signs of recovery and demand increases,
improved production and business conditions to but Vietnam’s seafood products are still difficult to
keep a stable supply of raw materials with the goal compete in price and supply with other countries
of ensuring the availability of aquatic products. such as Ecuador, India, Indonesia, and Thailand…
products when market demand recovers. The industry’s problems do not have immediate
- Exported products have stable supply and and long-term solutions: high production costs
reduced prices, competitive selling prices due to high input costs such as feed and seed,
compared to other countries. declining profits, lack of capital to maintain
investment in farming in the coming cases;
With that favorable scenario, Vietnam’s seafood farmers abandoned ponds, leading to a lack of
exports in the remaining 5 months of 2023 will raw materials to meet orders in the second half of
probably reach over 4 billion USD, then the total the year...
export turnover in 2023 will reach over 9 billion
USD, down 15%-16% compared to 2022. In That scenario can lead to the prediction that
which, shrimp is forecasted to earn about 3.5- seafood exports in the last 5 months of the year
3.6 billion USD, down 16%-18%. Pangasius sales can only reach about 3.5-3.7 billion USD, so, in
will decrease by 28% to reach 1.7-1.8 billion USD. the whole year of 2023, exports may only bring in
Tuna and cephalopod exports will decrease by about 8.5 – 8.7 billion USD. In which, of course,
14-15%, reaching $870 million and $650 million, the deepest decline is still in the pangasius and
respectively. Marine fish exports are estimated at shrimp sector. Seafood exports may be worse if
$1.9-2 billion, down slightly from 2022. the results of the EU inspection on implementing
IUU fishing regulations in October do not meet
The main markets will certainly still bring in less the expectation and the goal of removing the
revenue than in 2022. In which, exports to the yellow card.


REPORT ON VIETNAM SEAFOOD EXPORTS

IN Q.II/2023
www.seafood.vasep.com.vn
PUBLISHER:
Ms. Nguyen Thu Trang - Mobile: (+84)868 093 697 - (+84)906 151 556
Tel: (+84)24 38354496 Ext 212 - Email: nguyentrang@vasep.com.vn

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VASEP REPORT Report on Vietnam Seafood Exports in Q.II/2023 10

Table 1. Vietnam’s seafood exports by main products, QI-QII/2023 (US$ mil.lion)

Table 2. Vietnam’s seafood exports by main products, QI-QII/2023 (US$ mil.)

VASEP REPORT Report on Vietnam Seafood Exports in Q.II/2023 11

JAN – JUN 2023

VASEP REPORT Report on Vietnam Seafood Exports in Q.II/2023 12

II. FISHERY PRODUCTION

VASEP REPORT Report on Vietnam Seafood Exports in Q.II/2023 13

High inflation and large inventories have resulted

VASEP REPORT Report on Vietnam Seafood Exports in Q.II/2023 14

Table 4. Vietnam’s shrimp exports by markets (US$ mil.)

VASEP REPORT Report on Vietnam Seafood Exports in Q.II/2023 15

Table 6. Vietnam’s pangasius exports by market, Jan-Jun 2023 (US$ mil.)

VASEP REPORT Report on Vietnam Seafood Exports in Q.II/2023 16

VASEP REPORT Report on Vietnam Seafood Exports in Q.II/2023 17

Table 9. Vietnam’s mollusk exports, Jan-Jun, 2023 (US$ mil.)

VASEP REPORT Report on Vietnam Seafood Exports in Q.II/2023 18

Table 10. Major export markets of Vietnam cephalopods, (US$ mil.)

1.5. Crabs and other crustaceans

VASEP REPORT Report on Vietnam Seafood Exports in Q.II/2023 19

VASEP REPORT Report on Vietnam Seafood Exports in Q.II/2023 20

VASEP REPORT Report on Vietnam Seafood Exports in Q.II/2023 21

VIETNAM SEAFOOD EXPORTS TO MAIN MARKETS

Shrimp: $236 mil.; - 29%, accounting for 33%

Pangasius: $262 mil; - 35%, accounting for 41%

Shrimp: $413 mil; - 35%, accounting for 37%

Shrimp: $166 mil; - 28%, accounting for 47%

VASEP REPORT Report on Vietnam Seafood Exports in Q.II/2023 22

3. Top seafood exporters

Table 13. Top 5 Vietnamese seafood exporters, Jan- Jun/2023

VASEP REPORT Report on Vietnam Seafood Exports in Q.II/2023 23

Table 14. Top 100 Vietnamese seafood exporters, Jan-Jun/2023

VASEP REPORT Report on Vietnam Seafood Exports in Q.II/2023 24

VASEP REPORT Report on Vietnam Seafood Exports in Q.II/2023 25

VASEP REPORT Report on Vietnam Seafood Exports in Q.II/2023 26

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2. The raw shrimp price

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12% 14% 11% 74%

Tab 18. Shrimp products for exports, by species

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Tab 19. Vietnam shrimp exports to markets, QII/2023 (US$ mil.)

Tab 20. Vietnam shrimp exports to markets, QI-QII/2023 (US$ mil.)

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Fig 12. Vietnam’s shrimp exports to the US, Jan-Jun 2023

Whiteleg shrimp Black tiger shrimp

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Fig 14. Vietnam’s shrimp exports to the EU, Jan-Jun 2023

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Whiteleg shrimp Black tiger shrimp

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Whiteleg shrimp Black tiger shrimp

Tab 32. Top shrimp suppliers to Japan, Jan - Apr 2023

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