Seafood exports from Vietnam to China have seen a significant decline this year as its shipments have encountered heightened food-safety inspections from Chinese Customs.
Vietnam exported seafood worth USD 742.9 million (EUR 656.8 million) to China in the first 10 months of 2021, a drop of 24.7 percent from USD 986.9 million (EUR 872.5 million) in the same period of 2020, Vietnam’s latest customs data showed.
According to Vietnam Association of Seafood Exporters and Producers (VASEP), China has been among the three largest buyers of Vietnamese seafood products for the past two years, accounting for between 17 and 18 percent of Vietnam’s total seafood export value. However, as exports stalled this year, the figure fell to 11 percent from the period stretching between January and September 2021.
Since April 2021, seafood exports from Vietnam to China have dropped by between 11 and 51 percent due to the increased testing of frozen seafood cargoes for COVID-19 by Chinese authorities. A serious coronavirus outbreak in southern Vietnam beginning in July triggered further tightened measures from the Chinese authorities, VASEP reported. The heightened inspections have resulted in the delays of clearance for shipments, adding further costs for both Vietnamese exporters and Chinese importers, VASEP said.
Consequently, the export value of shrimp to China contracted 23 percent to USD 298 million (EUR 263.5 million) in the first nine months of 2021, while pangasius exports fell to USD 279 million (EUR 246.6 million), down 20 percent, and crab exports fell 21 percent by value to USD 36 million (EUR 31.8 million).
VASEP said it expects seafood exports to China will nosedive 40 percent year-on-year to USD 242 million (EUR 214 million) in Q4 2021, dropping Vietnam’s annual China export total by 26 percent to about USD 1 billion (EUR 884 million) for the full-year 2021.
Meanwhile, sales to the U.S. surged 24.7 percent year-on-year to USD 1.67 billion (EUR 1.5 billion) in the first 10 months of 2021.Vietnam also increased its overall seafood sales to South Korea by 1.5 percent year-over-year, hitting USD 640.6 million (EUR 566.3 million) total.
Its seafood exports to Japan in the period dropped 8.5 percent from a year earlier to USD 1.07 billion (EUR 945.7 million).
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