Shrimp is a strategic product in Vietnam's seafood exports. (Photo: SGGP)
In the first five months of this year, Vietnam's seafood export hit US$3.27 billion, up 14 percent compared to the same period last year. Of which, export turnover of shrimp products reached $1.34 billion, up 14 percent. Besides, export turnover of pangasius products is also recovering higher than expected when reaching $134 million in May, up 26 percent. Total export turnover of pangasius fish touched $623 million in the first five months of this year, up 12 percent.
Pangasius farmers in the Mekong Delta hope that the prices of pangasius fish will climb again when exports are optimistic. (Photo: SGGP)According to the VASEP, the US market accounts for 21 percent of Vietnam's shrimp exports, so the recovery of this market will be the leverage for shrimp exports to bounce more strongly in 2021. Vietnam has a great opportunity to increase the market share in the US market when some major exporting countries are severely affected by the Covid-19 pandemic.
Accordingly, pangasius exports to the US are rehabilitating and making a breakthrough, with an increase of 136 percent in April and 200 percent in May, bringing pangasius exports to $135 million, up 57 percent year-on-year.