Vietnam seafood export outlook to EU is brighter

Vietnam seafood export outlook to EU is brighter

In recent time, Vietnam seafood exports to European countries were affected by credit tightening policy in the region, however, after European Seafood Exposition 2012 in Brussels-Belgium, export outlook to the region is brighter.
Update: (6/5/2012)

Since 2007, EU has surpassed Japan to become the largest importer of Vietnam seafood with fast and stable growth. In 2011, EU took the lead in seafood importing from Vietnam with 21.8 percent of the market share, followed by the U.S. with 19.3 percent and Japan with 16.4 percent.

In the first three months of 2012, seafood exports reached over US$1.3 billion in which EU was still the largest seafood importer of Vietnam with US$260 million, representing a 7.9 percent reduction from that of the same period of 2011.

Vietnam supplies a variety of seafood products for EU in which pangasius is the main exported item. Pangasius export volume to EU was stable, however, the export price tended to be increasingly low.

In contrast, shrimp shipment to EU showed a positive sign in two recent years and was expected to rocket in the upcoming years. In 2011, shrimp exports to EU was up 20.3 percent over 2010, bringing Vietnam to rank the fifth in top shrimp exporters to EU with the growth of 6.1 percent in market share of 2010 to 7.5 percent of 2011.

Pangasius is an advantage of Vietnam seafood exports while it is more and more popular with EU consumers. Boosting pangasius exports to EU will bring mutual benefit, Mr. Struan Stevenson - Senior Vice President of the European Parliament Fisheries Committee said.

In 2011 alone, Vietnam delivered 600,000 MT of pangasius to EU and average annual growth in seafood exports to EU was 30 percent. Vietnam seafood has succeeded in getting a foothold in EU market, Stevenson concluded.

Despite European debt crisis, the food industries in the region are standing firmly. ESE 2012 attracted over 1,600 seafood companies from 80 countries all over the world which were decorated impressively in the area of 34,000 square meters. At 2012 ESE, Vietnam enterprises have nearly 40 booths with nice and professional decoration and they are among the largest booths in the Exposition.

In 2012, despite instable financial situation in many countries, VASEP still focused on improving its images in ESE 2012. This year, Vietnam seafood enterprises were more active in preparing as well as bringing new seafood products to the Exposition.

Vietnam seafood exports are affected by European credit tightening. Seafood enterprises are waiting for banks’ credit loosening for loans to reinvest and stabilize their business in the EU market.

(Source: VASEP)