In just 7 months, the US has spent USD 19 billion to buy more than 2 million tons of shrimp and all kinds of fish. Vietnam has become the second largest supplier of seafood in terms of output to the US, but it still ranks 5th in value.
Statistics from the U.S. National Marine Fisheries Service (NMFS) show that in the first seven months of 2022, U.S. seafood imports reached 2.02 million tons, worth more than USD 19 billion, an increase of 8.2% in volume and 21.2% in value over the same period 2021.
Shrimp are therefore the largest imported seafood product from the US. At the end of July 2022, the US imported more than 544 thousand tons of shrimp, worth USD 5.82 billion, an increase of 4.9% in volume and 10.8% in value over the same period in 2021.
The second is salmon with an import volume of almost 295 thousand tons, worth USD 3.9 billion. In addition, the US also imported a large amount of tuna, tilapia, cod catfish, crab, squid, …
In the first 7 months of 2022, Vietnamese seafood exports to the US market reached 199.1 thousand tons, worth USD 1.42 billion, an increase of 25.5% in volume and 52.6% in value compared to same period in 2021. As a result, Vietnam rose to become the second largest supplier of seafood in terms of volume and the fifth largest in value for the US.
Selling shrimp, crab and fish to the US earned Vietnam $1.64 billion in 8 months of 2022 (Photo: Duc Thanh)
Vietnam’s market share for seafood 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 Vietnamese customs statistics, the US is currently the largest buyer of Vietnamese shrimp and fish exports. In the first eight months of 2022, seafood exports to this market reached USD 1.64 billion. The United States is the main import market for Vietnamese shrimp, tuna and pangasius, with 20%, 51% and 23% respectively.
The United States Department of Agriculture (USDA) plans to purchase 1.44 million pounds of catfish products for government food aid programs. This is a program to educate seniors and people with disabilities who qualify for US President Joe Biden’s “Build Back Better” program.
The aim of the program is to transform the food system for the benefit of 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 war between Russia and Ukraine. The program will strengthen critical supply chains and address backlogs. Deliveries will take place from November this year to the end of January 2023.
According to seafood industry experts, this is an opportunity for Vietnam to continue to promote pangasius exports to the US market in the latter months of this year and early next year.
@ vietnamnet
