Vietnam fetches $227M from crab exports
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Crab exports in the first nine months surged 66% year-on-year to $227 million, the strongest growth recorded among major fishery products.
The rise in sales came as major markets, especially China, pumped up demand for Vietnamese crabs, the Vietnam Association of Seafood Exporters and Producers (VASEP) said in a report.
Japan was also a major market as Vietnamese high-quality crabs are priced competitively there.
Crab exports are expected to hit $300 million for the whole year.
Fishery exports in total rose 8.5% to $7.16 billion in the first nine months. Shrimps led the gain with a 10.5% growth.
VASEP forecasts that Vietnam’s seafood exports in 2024 can grow 7% to $9.5 billion, with shrimp, pangasius, tuna, squid and octopus making up the bulk of delivery.
Questions & Answers
Q.Which specific markets were primarily responsible for the increased demand for Vietnamese crabs?
Which specific markets were primarily responsible for the increased demand for Vietnamese crabs?
Major markets, particularly China, significantly increased their demand for Vietnamese crabs. Japan was also noted as a key market due to the competitive pricing of high-quality Vietnamese crabs there.
Q.What is the projected total value for Vietnam's crab exports by the end of the year?
What is the projected total value for Vietnam's crab exports by the end of the year?
Crab exports are anticipated to reach $300 million for the entire year. This projection follows the strong performance seen in the first nine months.
Q.How did the growth in crab exports compare to other major fishery products in Vietnam?
How did the growth in crab exports compare to other major fishery products in Vietnam?
Crab exports showed the strongest growth among major fishery products, surging 66% year-on-year. Overall fishery exports grew 8.5%, with shrimps leading that gain at 10.5%.
Q.What is VASEP's overall forecast for Vietnam's seafood exports in the upcoming year?
What is VASEP's overall forecast for Vietnam's seafood exports in the upcoming year?
VASEP forecasts that Vietnam's total seafood exports in 2024 are expected to grow by 7%. This would bring the total value to $9.5 billion.
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