According to statistics from the China Customs administration, in August 2023, China's seafood imports reached 1.4 billion USD, down % compared to the same period in 2022, the 3rd consecutive month of decline. In the first 8 months of 2023, China's seafood imports reached 12.8 billion USD, up 9.4% over the same period in 2022.

Processing frozen shrimp for export at the factory of Minh Phu Hau Giang Seafood Company, Hau Giang province

In August 2023, China's seafood imports from most major supply markets Ecuador, Russia, India, the United States, Norway ... decreased compared to the same period in 2023, while imports from Peru, Chile, Argentina increased.

Vietnam is the 7th largest seafood supply market for China in August and the first 8 months of 2023.

Specifically, in August 2023, China's seafood imports from the Vietnamese market reached 69.02 million USD, down 35.5% compared to August 2022.

In the first 8 months of 2023, China's seafood imports from Vietnam reached 533.2 million USD, down 51.7% over the same period in 2022. Vietnam's seafood market share in China's total imports plummeted to 4.2% in the first 8 months of 2023 from 9.4% in the first 8 months of 2022.

Notably, the Vietnam Association of Seafood Exporters and Processors said that in the first 8 months of this year, Vietnam's lobster exports to China reached 76 million USD, down 42% over the same period in 2022. To date, China is still Vietnam's largest lobster import market.

According to the Vietnam Association of Seafood Exporters and Processors, China is a key export market for many Vietnamese seafood products. In particular, pangasius exported to China always accounts for 30% of total export turnover. China is also in the Top 5 markets importing a lot of shrimp of Vietnam.

According to data from the Ministry of Agriculture and Rural Development, up to now, the system guiding the registration of plant-based foods to China (CIFER) of the General Department of Customs of China has more than 800 Vietnamese enterprises declared eligible to export seafood to this country. Currently, China has issued 128 product codes related to Vietnam's seafood.

Mr. Nguyen Nhu Tiep - Director General of the Department of Quality, Processing and Development of Agricultural Products (Ministry of Agriculture and Rural Development) - said that in order to export live seafood to China, establishments register to export live seafood products such as tiger shrimp, white shrimp, live crabs and lobsters need to be appraised and certified by the Department of Quality, Processing and Development of agricultural products in accordance with regulations of Vietnam and China.

Establishments raising and packaging products must be inspected by local agricultural, forestry and fishery management agencies, certified with food safety conditions, veterinary sanitary conditions and granted codes.

In order to boost seafood exports to this market, Mr. Nguyen Hoai Nam - Deputy General Secretary of the Vietnam Association of Seafood Exporters and Processors - proposed that it is necessary to strengthen trade promotion and trade between domestic enterprises and Chinese localities.

At the same time, support and promote the approval of documents for enterprises registering to export seafood to China. In particular, agencies need to update and provide information on the needs and regulations of the market and localities of China for Vietnamese enterprises.

In August 2023, China's seafood imports from the Japanese market plummeted after China introduced a ban on seafood products imported from Japan.

China is Japan's largest seafood export market in 2022 with products such as scallops, tuna, sea urchins, snapper and sea cucumbers. China's ban on seafood imports from Japan may create opportunities for some seafood exports of Vietnam in the near future.

Vietnam is negotiating to diversify its exports. Currently, raw oysters have basically completed the procedures, while iced shrimp and salted jellyfish continue to be assessed for risk.

China is currently the most expected market for seafood enterprises when in the last months of 2023, China's economy is more stable, and people's incomes and consumption gradually increase. The Association of Seafood Exporters and Processors forecasts that seafood exports to China and Hong Kong (China) have a chance to recover, the turnover in 2023 is expected to reach 1.8 billion USD.

If the situation in the last months of the economic year in major markets recovers, enterprises have internal production resources, stable supply of raw materials and export products with competitive prices, seafood exports in 2023 can earn over 9 billion USD.