Vietnam's seafood exports to the EU grew by 40% in June 2024
According to the Vietnam Association of Seafood Exporters and Producers (VASEP), the country's seafood export value in June 2024 is estimated to have reached USD 875 million, an increase of 14% compared to the same period last year. This is also the highest export value recorded since the beginning of the year.
The most notable highlight in June 2024 was the significant growth in the EU market. Statistics show that seafood exports from Vietnam to the EU market had the highest growth rate, increasing by 40% in June 2024.
Experts attribute this to the gradually stabilizing EU market. Market prices and consumer demand are stabilizing, and seafood inflation continued to decrease to 2.1% in May. Since March, inflation has even significantly decreased for frozen seafood, with a negative inflation rate of 0.9% in May. It is forecasted that the demand and imports of seafood in the EU will further increase after the summer holidays in Europe.
The EU is considered the world's most demanding seafood market, with high requirements for origin and sustainability. Most consumers prefer high-nutritional-value seafood products such as those rich in omega-3 and low in saturated fats.
Food safety and certification have become top priorities in the fresh product trade in the EU, spanning the entire supply chain from "farm to table." Additionally, EU consumers are increasingly concerned about production conditions and environmental and social issues. They are even willing to pay 20-50% more than the usual price for products with environmental protection or social responsibility and sustainability certifications.
VietnamExport (compiled)
