Tháng mười một 10, 2020

ASEAN is becoming a major market for Vietnamese seafood, with a potential for growth due to its vast population and economic incentives. Despite the focus on the “Big 4” (US, China, Japan, and South Korea), ASEAN countries have imported 9.2 times more Vietnamese seafood compared to 1998, with Thailand, the Philippines, and Singapore being the top importers. Vietnamese seafood is making waves in the ASEAN market, with local insiders predicting even bigger potential for growth. Last year alone, Vietnam exported $612 million worth of seafood to ASEAN countries, which is 9.2 times more than the amount exported in 1998. Reports from the Vietnam Association of Seafood Exporters and Producers (VASEP) indicate that all nine countries in the regional bloc were importing seafood from Vietnam, with Thailand, the Philippines, and Singapore being the largest importers. Thailand, for instance, has bought $248 million worth of Vietnamese seafood, accounting for 40 percent of the total export value to ASEAN countries. This reflected the regional intake, multiplying nine times in the last 20 years. In second place is the Philippines, which imported seafood worth $132 million, a 2,000-fold increase over the paltry $63,000 in 1999. Export of sea fish to ASEAN countries reached $289 million last year, making it Vietnam’s main seafood export item to the regional bloc. Squid and octopus came in second at $71 million, more than 10 times the $7 million in 1998. The potential for the ASEAN market is also bolstered by the establishment of the ASEAN Economic Community (AEC) in 2015, which has created an opportunity for Vietnam’s seafood industry with significant tax incentives. Moreover, the ASEAN population is expected to reach 790 million by 2050, creating a considerable demand for food. VASEP estimates that seafood consumption in the bloc will increase from 24.5 million tons in 2015 to 37 million in 2030, and per capita seafood consumption will grow from 38.4 kilograms per person a year to 51.5 kilograms in 2030. Despite the potential for growth in the ASEAN market, Vietnamese businesses have kept their focus on the traditionally top markets for seafood export, namely the US, Japan, China, and South Korea. These four countries accounted for 52.7 percent of total export value of Vietnamese seafood last year, according to the Ministry of Agriculture and Rural Development. However, China has recorded a strong year-on-year growth of 28.8 percent in seafood imports from Vietnam in the first four months of this year. China is also the largest importer of Vietnamese pangasius fish, and potentially of shrimp in the future, according to VASEP. In conclusion, the ASEAN market is an emerging opportunity for Vietnamese seafood, with its vast population and economic incentives. Although the “Big 4” markets still dominate Vietnamese seafood exports, the ASEAN market has great potential for growth, and local businesses should start to take advantage of this market.

India’s seafood export industry provided relief to the adverse effects of the COVID-19 pandemic. The country shipped 12,89,651 MT of seafood with a total value of Rs 46,662.85 crore (USD 6.68 billion) in the financial year 2019-20. Frozen shrimp was the largest export item in terms of value and quantity, followed by frozen fish. The United States and China were the largest importers of Indian seafood. Although the quantity and USD value declined by 7.39 per cent and 0.74 per cent, respectively, the exports improved by 0.16 per cent in Rupee terms compared to the previous year. Chairman of the Marine Products Export Development Authority (MPEDA), K S Srinivas, attributed this success to the fact that the exports maintained high quantities despite the sluggish demand in major export markets caused by the pandemic. The pandemic led to several order cancellations, reduced and delayed payments, slowdown of cargo movements, and difficulties in getting new orders. The decline in sea catch due to reduced fishing days along the west coast of India also contributed to the shortfall in quantity. Frozen shrimp accounted for 50.58 per cent of the quantity and 73.21 per cent of the total dollar earnings, retaining its position as the largest item in India’s seafood exports. Shrimp exports increased by 6.04 per cent in dollar value and 6.20 per cent in quantity. Frozen shrimp exports earned Rs 34,152.03 crore (USD 4,889.12 million), with the United States importing the most frozen shrimp, followed by China, the European Union, Japan, South East Asia, and the Middle East. Vannamei (white leg) shrimp exports increased from 4,18,128 MT to 5, 12,189 MT, with the United States and China accounting for 51.07 per cent and 21.81 per cent of total exports, respectively. The United States also became the major market for Black Tiger shrimp, accounting for 36.88 per cent of total exports. Frozen fish was the second-largest export item, accounting for 17.32 per cent of the quantity and 7.69 per cent of the dollar earnings. Although frozen fish exports decreased by 34.11 per cent in quantity and 26.53 per cent in dollar value, the export of frozen cuttlefish showed positive growth of 17.76 per cent in quantity, 1.71 per cent in Rupee value, and 1.45 per cent in dollar terms. The chilled items sector also exhibited growth of 23.22 per cent, 2.53 per cent, and 1.29 per cent in terms of quantity, Rupee value, and USD earnings, respectively. However, exports of frozen squid and dried items decreased during the period. In terms of overseas markets, the United States remained the largest importer of Indian seafood in value terms, importing seafood worth USD 2,562.54 million, accounting for 38.37 per cent of the dollar value. The export to the United States registered growth of 8.25 per cent in quantity, 10.38 per cent in Rupee value, and 9.30 per cent in USD earnings.