In just 7 months, the US spent 19 billion USD to buy more than 2 million tons of shrimp and fish of all kinds. Vietnam has risen to become the second largest seafood supplier in terms of output to the US, but in value it is still ranked 5th.
Statistics from the US National Marine Fisheries Service (NMFS) show that, in the first seven months of 2022, US seafood imports reached 2.02 million tons, worth more than 19 billion USD, up 8.2% in volume and 21.2% in value over the same period in 2021.
Accordingly, shrimp is the largest imported seafood product of the US. By the end of July 2022, the US imported over 544 thousand tons of shrimp, worth 5.82 billion USD, up 4.9% in volume and 10.8% in value over the same period in 2021.
The second is salmon with an import volume of nearly 295 thousand tons, valued at 3.9 billion USD. In addition, the US also imported a large amount of tuna, tilapia, cod catfish, crab, squid, …
In the first 7 months of 2022, Vietnam’s seafood exports to the US market reached 199.1 thousand tons, worth 1.42 billion USD, up 25.5% in volume and 52.6% in value compared to the same period in 2021. As a result, Vietnam rose to become the second largest seafood supplier in terms of volume and fifth largest in value to the US.
Selling shrimp, crab and fish to the US, Vietnam earned 1.64 billion USD in 8 months of 2022 (photo: Duc Thanh)
Vietnam’s seafood market share by value in total US imports increased from 5.9% in 7 months of 2021 to 7.5% in 7 months of 2022.
According to statistics from Vietnam Customs, the US is currently the largest customer of Vietnamese shrimp and fish exports. In the first eight months of 2022, seafood exports to this market reached 1.64 billion USD. The United States is the number one import market for Vietnam’s shrimp, tuna and pangasius, accounting for 20%, 51% and 23%, respectively.
The United States Department of Agriculture (USDA) is planning to purchase 1.44 million pounds of catfish products for government food assistance programs. This is a program to help feed seniors and people with disabilities who qualify for the “Build Back Better” program of US President Joe Biden.
The goal of the program is to transform the food system to benefit consumers, producers and rural communities by providing more choices, increasing accessibility and creating new markets for small and medium-sized manufacturers.
The program builds on lessons learned from the Covid-19 pandemic and supply chain disruptions caused by the Russia-Ukraine war. The program will strengthen critical supply chains and address backlog challenges. Deliveries will be made from November this year to the end of January 2023.
According to seafood industry experts, this is an opportunity for Vietnam to continue promoting pangasius exports to the US market in the last months of this year and early next year.
@ Vietnamnet
Related
Source: Vietnam Insider