Tiếng ViệtVietnam’s seafood exports to China this year have decreased but prospects and rooms in this market are still open, according to VASEP.
The Chinese market is increasingly important to Vietnam’s seafood exports. In recent years, this market has always been in the top 3 most importers, second only to the US and Japan.
In 2022, Vietnam’s seafood exports to China reached a record of sales and growth, respectively 1.6 billion USD and 66%. However, due to high price and inventory, the first 9 months of this year fell by 18%, only one billion USD.
Vietnam’s seafood exports to China
However, the Vietnam Association of Seafood Processing and Export (VASEP) recently stated that 2023 and in the coming years are having a number of favorable factors, bringing opportunities and geography to penetrate deeper into this market. .
Vietnam’s seafood exports to China
First, the demand for fisheries in China is recovering when the economy has a positive signal. Vietnam has a favorable geographical location, helping to reduce logistics costs and less than other countries, so it is a competitive opportunity for aquatic products while this country also finds new supply to replace goods imported from Japan.
Secondly, the country is also shifting in investment to higher profit industries, so aquaculture is reduced. Therefore, China will increasingly depend on imported seafood like Western countries. Geopolitical fluctuations, inflation, and energy crisis have decreased by the US, EU and Japan demand but China still increases.
China is one of the largest seafood importers in the world, spent $ 14.14 billion to buy aquatic products from abroad last year, up 14.7% compared to 2021, according to the Ministry of Agriculture and Rural. This country.
Data from the China Customs Department said seafood imports in the first 8 months of 2023 increased by 9.4% over the same period, to 12.8 billion USD. In particular, Vietnam is the seventh largest seafood supplier. VASEP said that this year, the main items of Vietnam sold here such as pangasius, lobster, squid, crab but there are still many strong species such as white shrimp, black tiger shrimp, shrimp, fish, fish thread Gold, mackerel, pungent fish, scad, glasses, octopus, clams.
Vietnam’s seafood exports to China
According to VASEP, many Vietnamese businesses have determined that the Chinese market has and will continue to be a potential destination. Many localities such as Guangdong, Tram Giang, Guangxi, Fujian and Shanghai are many consumer markets.
In order to take advantage of the opportunity, the Association said that it is necessary to exchange information and more demand at the local level. In particular, there should be changes in policies such as expanding the list of seafood products exported, more open to fresh aquatic species such as cotton lobster and crab. In addition, it is necessary to develop additional logistics infrastructure from road and rail connection and cooperation to build cold stores.
