Vietnam is planning to gain USD 8.9 billion (EUR 7.86 billion) from seafood exports in 2022, unchanged from the estimated value in 2021, the General Department said on 23 December.
The country expects to see its seafood export value rise 5.7 percent year-on-year to USD 8.89 billion (EUR 7.85) in 2021 thanks to stable domestic production and high demand from global markets.
The seafood industry supply chain in Vietnam was severely affected by the COVID-19 pandemic, especially during the months of July through September 2021. However, the country “successfully” overcame the difficulties and met its previous targets in seafood production and exports, the general department said.
Vietnam produced an estimated 8.73 million metric tons (MT) of seafood in 2021, up 1 percent from 2020. That total included 4.8 million MT of farmed products, an increase of 1 percent; and 3.92 million MT of wild-caught products, 0.9 percent higher year-on-year.
In 2021, demand for seafood products, particularly shrimp, recovered in most of Vietnam’s major markets such as the United States, Europe, China, Japan, and South Korea. In November, for example, its seafood export value hit an all-time high of USD 911 million (EUR 807.3 million), 23 percent higher year-on-year. Sales to the U.S. reached USD 197.7 million (EUR 175.2 million), surging 36.5 percent from a year earlier. Sales to Japan rose 134 percent year-over-year to USD 136.4 million (EUR 121 million) and sales to China reached USD 120.4 million (EUR 106.7 million), growing 5.5 percent year-on-year.
In 2022, the country plans to produce 8.73 million MT of seafood, unchanged from the estimated output in 2021, comprising 1.6 million MT of pangasius, 675,000 MT of vannamei shrimp, and 275,000 MT of black tiger shrimp.
In the aquaculture sector, the country will strengthen its export capacity by focusing on reducing production cost, which will effectively compete against key shrimp-producing countries such as India and Ecuador. Currently India and Ecuador have managed to curb the COVID-19 pandemic, and have been able to further lower their production costs – partly by improving the quality of shrimp seeds, Vietnam Association of Seafood Exporters and Producers (VASEP) Deputy Secretary General Nguyen Hoai Nam said.
The country will also look to reduce its fleet of fishing boats as part of its strategy to restructure the fishing sector as domestic marine resources have become scarce.
Photo courtesy of Toan Dao/SeafoodSource
