“I Am Proud to Be Vietnamese!”
	Vietnamese Dragon Fruit Exported to Saudi Arabia

In particular, the Chinese market is still the largest importer of crabs and other crustaceans from Vietnam, accounting for 42% of total export turnover. Export value to this market is increasing rapidly at a three-digit rate compared to the same period, but the growth rate is slowing down.

In May 2024 alone, crab and other crustacean exports to this market increased by 418% over the same period compared to last year, reaching nearly US $11 million. In the first 5 months of the year, exports to this market reached more than US $41 million, an increase of 502%.

According to VASEP, Vietnam's pangasius export volume in May 2024 reached its highest level in the past 2 years. The Chinese market was the main driver of this growth (Photo: baochinhphu.vn).

Meanwhile, exports to Japan have been on a downward trend for the past two months. However, thanks to the growth in the first quarter, exports to this market in the first five months of the year still increased by 7%, reaching nearly US $29 million.

According to VASEP, in May 2024, the export volume of pangasius products reached more than 83 thousand tons, up 46% over the same period last year, up 8% over the previous month. Of which, exports to China and Hong Kong continued to increase by 20% over the same period last year.

In addition, the export volume of pangasius to some other markets also recorded significant increases. Export to ASEAN increased by 7%, to Mexico increased by 15% and to the UK increased by 33%.

In May 2024, the export volume of pangasius from Vietnam to China reached more than 29 thousand tons. This is the highest level since February last year, and also the highest growth rate since February 2024. Although the export volume increased, the average export price to this market still decreased by 18% compared to the same period last year.

Regarding the ASEAN market, in May, the export volume of pangasius reached nearly 9,000 tons, the highest level imported by this market since November last year. However, the average export price decreased by 7.5% to 1.74 USD/kg - the lowest level since the end of 2021 while farmers are facing higher input costs.

Despite the impressive numbers in export volumes, the profits of pangasius exporting enterprises are affected by the pangasius export prices. There has been either no sign of recovery or decreased in some markets, due to high input costs for pangasius production while selling prices remain low.

VASEP forecasted that in the last 6 months of the year, pangasius export volume will continue to increase due to high demand from major markets such as China and ASEAN. However, pangasius export prices may remain low. Pangasius exporters need to focus on improving product quality, diversifying markets and finding solutions to reduce production costs.

Tuna Exports to Italy Soars Vietnam’s tuna export to Italy increased 30 times.

Japanese Scallops to be Processed in Vietnam Japanese seafood companies are set to start processing scallops from Hokkaido in Vietnam amidst labor shortages in their country.