US, China drive Vietnam Q1 export growth

Vietnamese seafood exports rose 2.3% year-on-year during the first quarter of 2016, according to Vietnam Directorate of Fisheries, reports VASEP

The rise was attributed, in part, to favorable weather and lower fuel prices.

According to the country's department of customs, seafood export value as of March 15, 2016 was estimated at nearly $1.2 billion, an increase of 9.5% y-o-y.

In the first half of March 2016, seafood exports were estimated at over $240 million, up 16% over the same period in 2015.

As of March 15, 2016, Vietnam seafood exports to the US and China showed the sharpest growth of 26% and 36%, respectively. The US's announcement that 45 Vietnamese companies were eligible to export pangasius to the US also contributed significantly to Vietnam seafood exports in general.

Besides, Vietnam seafood exports to the EU and Japan started to show the recovery.

Total capture production from January to March 2016 reached 722,100 metric tons, up 3.7% y-o-y.

Shrimp prices in the Mekong Delta rose between VND 15,000/kg and VND 20,000/kg.

The price of vannamei shrimp sized 100 pieces/kg is VND 95,000/kg - VND 115,000/kg; the price of black tiger shrimp sized 30 pieces/kg is between VND 240,000/kg - VND 280,000/kg.

Pangasius prices decreased during the first quarter y-o-y by between VND 2,500/kg and VND 3,500/kg, however by March 2016 prices began to recover.

Khoa Le

Source: Undercurrent News