The world's three “big men” race to import Vietnamese crabs

DNHN - A month ago, many shops said that all kinds of crabs with large sizes over 500 grams a piece were very scarce because traders collected and exported them all.

According to the Vietnam Association of Seafood Exporters and Producers (VASEP), as of July 15, Vietnam's crab exports reached over 111 million USD, up 41% over the same period last year.

China remains the fastest growing market with $37 million, up 76% year-on-year. Crab exports to China continued to grow well in the second quarter of 2022, but the growth rate slowed down.

Meanwhile, the US market consumed over 38 million USD of Vietnamese crab and achieved a growth rate of 27%. Vietnam's crab exports to the US grew well in the second quarter of 2022, although there was a reversal in the middle of the quarter. The US has fully reopened after the pandemic has helped increase demand for crabs. However, food prices in the US have increased by 20-40% compared to the beginning of the year, causing people to tighten their spending, especially for high-value products such as crabs.

With 24 million USD and an increase of 51%, Japan ranked 3rd. Japan is the largest importer of Vietnamese crabs in the market that participates in the CPTPP Agreement and is also the country that maintains the growth of crab imports. continuously in the first half of 2022.

According to the Vietnam Association of Seafood Exporters and Producers - VASEP, the world's increasing popularity of Vietnam's crabs has made the export of this product grow simultaneously in leading markets. In addition, the US, China, and France have fully reopened after 3 years of being affected by Covid-19, so export activities are easier.

This agency forecasts, in the second half of the year, when the demand for major holidays such as Christmas and Lunar New Year lasts, the price of export crabs will remain volatile and the export value will also increase sharply.

PV