First half seafood export revenue up 40 pct

Created 01 July 2022
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Vietnam exported $5.8 billion worth of seafood in the first six months, up 40 percent year-on-year.
First half seafood export revenue up 40 pct

According to the Vietnam Association of Seafood Exporters and Producers (VASEP), seafood export revenues rose 46 percent and 36 percent year-on-year in Q1 and Q2, respectively.

Export of shrimp, the top item in terms of revenue, grew 33 percent to $2.3 billion in the first six months.

VASEP said inflation and the Russia-Ukraine war opened opportunities for shark catfish export. Whitefish, especially cod, has run out of stock in European markets due to Western sanctions on Russia -- which accounts for about 45 percent of the world's whitefish supply, largely pollack, cod and haddock, according to The Guardian.

Vietnamese shark catfish, therefore, became an alternative. Export turnover to the U.K. and Spain surged by six and three times, respectively, and that from France, the Netherlands, Germany and Belgium also rose 45-90 percent.

For the first half this year, shark catfish exports fetched $1.4 billion, up 83 percent.

Source: VNE

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