Vietnam’s seafood exports increased by 8.3% to USD592 million in May as a result of rising shrimp and tra fish export revenues, one agency said.
Vietnam’s seafood exports rebound
The Vietnam Association of Seafood Exporters and Producers (VASEP) said that it was a considerable increase after the sharp decreases seen last year.
The country brought in USD244 million from shrimp exports in May, which was up 23% from the same period last year. In total this has brought the country's revenue from shrimp exports up by 6.2% during the first five months of this year.
The demand for shrimp has also increased in major markets. Exports to the US in May jumped by 58% on year, Chinese by 25%, Japanese 18% and those to the EU by 13%.
During the same month, tra fish exports increased by nearly 16% on year to USD174 million, bringing tra fish export revenues during the Jan-May period to USD709 million, although the number was still down 1.5% from last year.
The May numbers showed a less fortunate year for tuna exporters, who saw declining demand in markets, although supply was up. They fell by 22% on year, largely due to the drop in demand from the US and Japan.