Four-month crab exports increase sharply to 44.5 million USD

Update: 21:12 | 12/06/2020
Vietnam’s crab exports were worth 44.5 million USD in the first four months of this year, a 40 percent year-on-year increase, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).
TIN LIÊN QUAN
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Crab prices were steady in the first five months of this year but have been falling since June. (Photo: Tien Phong)

The main markets were China, the US, Japan, and the EU.

China, which was only the fourth-largest buyer in the same period last year, bought more than 13 million USD worth of the crustacean, up nearly 394 percent.

Exports to Japan grew by 37.4 percent to 10.3 million USD.

But shipments to the US and EU decreased by 18.3 percent and 17 percent, respectively.

China also increased the import of Vietnamese fish cakes and surimi by 37 percent to 14.8 million USD. It was the only major market to increase the import of fish cakes and surimi from Vietnam.

VASEP said Chinese demand for seafood has recovered since March. Vietnam’s exports to the country increased by 35 percent in April and 20 percent in May.

Japanese demand for Vietnamese seafood has also been robust. In May, exports were up 9 percent after increasing by 16 percent in April.

VASEP said that with this rate of growth, Japan would continue to be one of the largest markets for Vietnam this year and help offset much of the decline in exports to the US and the EU.

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(Source: VNA)