CHINA BECOMES VIETNAM’S TOP SEAFOOD BUYER IN H1

Workers process seafood at a facility in Vietnam - PHOTO: VNA

HCMC – China overtook the U.S. as Vietnam’s largest seafood importer in the first half of this year, with a total value of US$1.1 billion, up over 45% year-on-year.

According to the Vietnam Association of Seafood Exporters and Producers (VASEP), the U.S. imported around US$905 million worth of seafood from Vietnam in January-June, up nearly 18% year-on-year.

May saw the highest monthly export value to the U.S., at nearly US$195 million, a 61% increase versus April. The surge came as Vietnamese exporters sped up shipments to avoid the impact of newly announced U.S. tariff measures.

Shrimp, tra fish, and tuna made up nearly 77% of total seafood exports to the U.S. Shrimp exports totaled about US$341 million, up almost 13% year-on-year, while tuna brought in nearly US$184 million, up 6.5%.

Fearing higher tariffs, many exporters rushed deliveries in April and May, resulting in a temporary spike followed by a sharp decline in June.

VASEP Deputy General Secretary Le Hang said the unstable tariff policy from the U.S. has made it difficult for exporters to plan production, secure contracts, and schedule shipments, significantly affecting supply chains.

In the second half of the year, seafood exporters are expected to continue shifting orders between markets in response to tariff changes, technical requirements, and traceability regulations.

While expanding exports to China and countries under the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), many firms are also trying to maintain market share in the U.S. by investing in sustainable production and increasing the ratio of processed products.

Despite high selling prices in the U.S. market, unpredictable trade risks have forced exporters to restructure and shift to other destinations such as South Korea, Japan, the EU, and CPTPP markets. Companies are also investing in cold chain logistics, traceability systems, and technology to remain competitive.

Source: The Saigon Times