Vietnam’s aquaculture exports are expected to reach $4.4 billion in the first half of 2024, up 6% from the previous year. Despite challenges such as extreme weather conditions, competitive pressure on export prices, high input costs, and raw material shortages, the Vietnam Association of Seafood Exporters and Producers (VASEP) remains optimistic about the industry’s performance.
In the first five months of the year, aquatic product exports totaled approximately $3.6 billion, showing a 6% increase compared to the same period last year. Export markets have shown signs of recovery in terms of demand and prices, with shipments to the United States, Japan, the EU, and South Korea growing by 5 to 26% in May. Specifically, exports to the US increased by 13% to $635 million by the end of May, while those to Japan, South Korea, and the EU saw slight growth of 3 to 4%.
With an annual target of $10 billion in aquaculture exports, the Ministry of Agriculture and Rural Development has urged localities to work closely with businesses and relevant associations to monitor market trends and develop appropriate production plans. Additionally, companies are encouraged to collaborate to expand their markets, comply with market regulations, propose policy changes to facilitate exports, leverage advanced technologies to reduce production costs, promote connections, and overcome technical barriers.