Vietnam’s shrimp and pangasius exports to the U.K. increased by value in the first two months of 2022, but its sales of tuna products decreased, according to data from the Vietnam Association of Seafood Exporters and Producers (VASEP).
In 2021, exports of shrimp, pangasius, and tuna shipped by Vietnam to the U.K. dropped by between 3.5 percent and 26 percent in value, primarily due to a rise in freight rates.
But sales have recovered in the first two months of this year, reaching USD 44 million (EUR 40 million), a year-over-year increase of 37 percent..
Vietnam received USD 33.5 million (EUR 30.5 million) for its shrimp sent to the U.K. in January and February, up 55 percent year-on-year, and accounting for 76 percent of its total seafood export value in the time-period. U.K. vannamei sales totaled USD 30.4 million (EUR 27.7 million), up 54 percent year-on-year, with Vietnam’s production of more black tiger shrimp paid off with a sixfold year-over-year increase of its exports to the U.K. by value, reaching USD 3.1 million (EUR 2.8 million) in the period.
Vietnam’s pangasius exports to the U.K. also rose in January and February, hitting USD 7.2 million (EUR 6.5 million), up 4 percent year-on-year. However, after 20 percent growth in January, sales in February declined 16 percent compared to the same month last year, VASEP said.
Sales of tuna and other sea fish from Vietnam to the U.K. over January and February dropped 44 percent and 24 percent year-on-year, respectively.
VASEP said Vietnamese seafood exporters could benefit from a move by the U.K.’s major supermarket chains to boycott seafood from Russia to protest the invasion of Ukraine. Russia was among the 11 largest suppliers of whitefish for the U.K., and VASEP believes Vietnamese pangasius can take over some of that market share. In 2021, Vietnam was the sixth-largest supplier of whitefish for the U.K., with a market share of 6 percent.
However, the Ukraine conflict is also affecting Vietnam’s own export operations, as shipping costs are rising due to an increase in fuel prices, the Vietnamese trade group said.
Photo courtesy of Nguyen Quang Ngoc Tonkin/Shutterstock
