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China surpasses the EU to become Vietnam's second largest seafood export market

According to Vietnamese media Nong Nghiep, in recent years, China has been Vietnam's third seafood export market, after the United States and the European Union, with an annual trade volume of more than 1 billion US dollars, accounting for about 15% of Vietnam's total exports. However, in the first six months of this year, China's market trade volume has surpassed Europe and the United States, reaching 716 million U.S. dollars, of which the export value of shrimp and pangasius products is close to 280 million U.S. dollars.

Statistics show that in the first half of the year, Vietnam’s exports of shrimp products and pangasius dropped by 15.7% and 34.4% respectively year-on-year, mainly because their prices were at historically low levels.

Truong Dinh Hoe, secretary-general of the Vietnam Association of Seafood Exporters and Producers (VASEP), said that despite the decline in shrimp and pangasius prices, market expectations for the second half of the year are relatively optimistic, and the international market's demand for Vietnamese seafood is improving.

Nguyen Duy Kien, director of the Asian and African Market Department of the Ministry of Industry and Trade of Vietnam, said that the import demand for shrimp products in the Chinese market has gradually recovered, and the import volume has almost doubled compared with the same period last year. However, against the background of the global market downturn, the price of shrimp imported from China is still very low.


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