Vietnam’s fishery export hit 1 billion USD in May, up 27 percent year-on-year but down from the 1.1 billion USD recorded in the previous month, the Vietnam Association of Seafood Exporters and Producers (VASEP) reported.
Hanoi (VNA) – Vietnam’s fishery export hit 1billion USD in May, up 27 percent year-on-year but down from the 1.1 billion USDrecorded in the previous month, the Vietnam Association of Seafood Exportersand Producers (VASEP) reported.
The drop was mainly due to a decline in shrimpexport which increased only 19 percent to 416 million USD as compared with a 47percent rise in April, the association explained.
In the first five months of this year, the total valuewas over 4.6 billion USD, a rise of 42 percent from the same period last year,of which shrimp export accounted for 39 percent.
Enterprises said the hike in shrimp export in thefirst four months was thanks to reserve materials and inventories from 2021. Inaddition, many firms won contracts with high prices late last year when theCOVID-19 pandemic was ravaging and the global inflation affecting shrimp prices.
Since May, unfavourable weather conditions have exertednegative impacts on shrimp farming. Therefore, it is forecast that there willbe a shortage of material for export in May and the coming months.
Vietnam’s shrimp export is also predicted to growslowly in the second and third quarters as the demand from majormarkets will stand still after the surge.
Tra fish export in May also expanded 65 percent to 245 million USD. In the first five months, the value rose nearly 90percent to more than 1.2 billion USD.
Although the export of other aquatic products like squid,octopus, crab and mollusc increased in May, it still remained lower than that in April.
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Illustrative image (Source: VNA) 
