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MARKET ANALYSIS

 

Vietnam seafood exports rise 5.3% in Jan - Sept

 

In the nine months through September, Vietnamese seafood exports rose 5.3%, according to the Vietnam Association of Seafood Exporters and Producers (Vasep). Turnover of almost all Vietnamese seafood products showed growths or slight declines that were on par with the same period last year—shrimp exports rose 5.6%, pangasius 6.2%, and crab and other crustaceans 10.4%; mollusk declined 3.4%.

 

Shrimp

 

Shrimp exports in the first nine months hit nearly US$2.25 billion, up 5.6% year-on-year. Whiteleg shrimp exports made up 61.3% of the total shrimp exports and rose 11.2%.

 

The growth in shrimp exports can be attributed to the rise in exports to some major markets including the US, the EU, China-Hong Kong and South Korea.

 

Shrimp exports to the US, the largest market, made up 23% of the total shrimp exports. The rise in exports to this market was attributed to stable demand and supply shortage in India, Indonesia, Ecuador and Thailand.

 

It is worth noting that in early September, the US Department of Commerce (DOC) announced the final result on antidumping duty on shrimp imported from Vietnam in the 10th period of administrative review (POR10) from February 2014 to January 2015. The duty rate of POR10 was 4.78% for the voluntary and mandatory respondents, higher than the POR9's average duty of 0.91% but lower that POR8's 6.3%.

 

Still, the POR10 assessment is considered a high duty rate for Vietnamese shrimp exporters. Vietnamese enterprises are reportedly going ask the US Court of International Trade (CIT) to reconsider the zeroing method to calculate the dumping margins that is being used by DOC.
 

 

Although the result of POR10 has affected Vietnamese shrimp exporters, shrimp exports in the current fourth quarter remains stable.

 

Demand for imported shrimp from the EU, South Korea and Japan in the last quarter of this year is expected to rise. Shrimp exports this year is estimated to touch $3.1 billion, up 5% year-on-year.

 

Pangasius

 

Pangasius exports to the US faced two barriers: antidumping duty and catfish inspection programme. Nevertheless, pangasius exports to the US reported growths.

 

Pangasius exports to China in January to September rose 75.6% year-on-year. China outstripped the EU to become the second-largest importer of Vietnamese pangasius. Exports of the fish to other markets like Asean, Mexico, Brazil, Colombia proved unstable.

 

Exports for the whole of 2016 are expected to reach $1.66 billion, up 6.4% year-on-year.

 

Marine products

 

In January-September, exports of mollusk (cephalopod and bivalve mollusk) grossed $360.4 million, down 3.4% year-on-year; crab and other crustaceans, $91.2 million, up 10.4%.

 

Vietnam's seafood exports are expected to reach $7 billion, up 5.5% year-on-year.

 
 

Source: VASEP 

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