Price for Crustaceans, Molluscs and Other Aquatic Invertebrates, Prepared or Preserved in Vietnam - 2022

Contents:

1. Price for Crustaceans, Molluscs and Other Aquatic Invertebrates, Prepared or Preserved in Vietnam (FOB) - 2022
2. Price for Crustaceans, Molluscs and Other Aquatic Invertebrates, Prepared or Preserved in Vietnam (CIF) - 2022
3. Exports of Crustaceans, Molluscs and Other Aquatic Invertebrates, Prepared or Preserved in Vietnam
4. Imports of Crustaceans, Molluscs and Other Aquatic Invertebrates, Prepared or Preserved in Vietnam

Price for Crustaceans, Molluscs and Other Aquatic Invertebrates, Prepared or Preserved in Vietnam (FOB) - 2022

In December 2022, the average export price for crustaceans, molluscs and other aquatic invertebrates, prepared or preserveds amounted to $10,524 per ton, approximately equating the previous month. Overall, the export price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in January 2022 an increase of 5.3% against the previous month. The export price peaked at $10,673 per ton in November 2022, and then reduced slightly in the following month.

There were significant differences in the average prices for the major export markets. In December 2022, the country with the highest price was France ($13,646 per ton), while the average price for exports to Spain ($4,026 per ton) was amongst the lowest.

From December 2021 to December 2022, the most notable rate of growth in terms of prices was recorded for supplies to France (+1.1%), while the prices for the other major destinations experienced more modest paces of growth.

Price for Crustaceans, Molluscs and Other Aquatic Invertebrates, Prepared or Preserved in Vietnam (CIF) - 2022

In December 2022, the average import price for crustaceans, molluscs and other aquatic invertebrates, prepared or preserveds amounted to $6,465 per ton, declining by -2.8% against the previous month. In general, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in January 2022 an increase of 38% month-to-month. Over the period under review, average import prices reached the maximum at $10,513 per ton in February 2022; however, from March 2022 to December 2022, import prices failed to regain momentum.

Prices varied noticeably by the country of origin: the country with the highest price was the Philippines ($18,786 per ton), while the price for Canada ($3,788 per ton) was amongst the lowest.

From December 2021 to December 2022, the most notable rate of growth in terms of prices was attained by Japan (+0.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Exports of Crustaceans, Molluscs and Other Aquatic Invertebrates, Prepared or Preserved in Vietnam

For the fourth year in a row, Vietnam recorded growth in overseas shipments of crustaceans, molluscs and other aquatic invertebrates, prepared or preserveds, which increased by 7.1% to 193K tons in 2022. The total export volume increased at an average annual rate of +11.7% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 with an increase of 19%. The exports peaked in 2022 and are likely to see gradual growth in the immediate term.

In value terms, exports of crustaceans, molluscs and other aquatic invertebrates, prepared or preserveds expanded sharply to $2B in 2022. The total export value increased at an average annual rate of +10.4% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when exports increased by 17% against the previous year. Over the period under review, the exports of hit record highs in 2022 and are likely to see steady growth in the immediate term.

Top Export Markets for Crustaceans, Molluscs and Other Aquatic Invertebrates, Prepared or Preserved from Vietnam in 2022:

1. United States (49.8K tons)
2. Japan (33.0K tons)
3. South Korea (17.3K tons)
4. United Kingdom (11.9K tons)
5. Canada (11.2K tons)
6. Australia (9.8K tons)
7. Netherlands (9.7K tons)
8. Italy (8.4K tons)
9. Germany (7.5K tons)
10. Spain (6.7K tons)
11. Belgium (4.2K tons)
12. Portugal (3.5K tons)
13. Denmark (3.0K tons)

Imports of Crustaceans, Molluscs and Other Aquatic Invertebrates, Prepared or Preserved in Vietnam

In 2022, approx. 4.8K tons of crustaceans, molluscs and other aquatic invertebrates, prepared or preserveds were imported into Vietnam; increasing by 123% against the year before. Over the period under review, imports saw a significant increase. The growth pace was the most rapid in 2020 when imports increased by 186%. As a result, imports reached the peak of 5.9K tons. From 2021 to 2022, the growth of imports of failed to regain momentum.

In value terms, imports of crustaceans, molluscs and other aquatic invertebrates, prepared or preserveds soared to $35M in 2022. Overall, imports enjoyed a significant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Top Suppliers of Crustaceans, Molluscs and Other Aquatic Invertebrates, Prepared or Preserved to Vietnam in 2022:

1. Thailand (2219.1 tons)
2. China (1884.4 tons)
3. Japan (155.4 tons)
4. Philippines (130.7 tons)
5. Indonesia (106.6 tons)
6. Canada (98.8 tons)
7. Chile (65.5 tons)
8. South Korea (33.9 tons)
9. India (10.6 tons)

Source: IndexBox Market Intelligence Platform