Price for Crustacean preparations; prepared or preserved crustaceans (excluding crab, shrimps, prawns and lobster) in Vietnam - 2022

Contents:

1. Price for Crustacean Preparations; Prepared or Preserved Crustaceans (Excluding Crab, Shrimps, Prawns and Lobster) in Vietnam (FOB) - 2022
2. Price for Crustacean Preparations; Prepared or Preserved Crustaceans (Excluding Crab, Shrimps, Prawns and Lobster) in Vietnam (CIF) - 2022
3. Exports of Crustacean Preparations; Prepared or Preserved Crustaceans (Excluding Crab, Shrimps, Prawns and Lobster) in Vietnam
4. Imports of Crustacean Preparations; Prepared or Preserved Crustaceans (Excluding Crab, Shrimps, Prawns and Lobster) in Vietnam

Price for Crustacean Preparations; Prepared or Preserved Crustaceans (Excluding Crab, Shrimps, Prawns and Lobster) in Vietnam (FOB) - 2022

The average export price for crustacean preparations; prepared or preserved crustaceans (excluding crab, shrimps, prawns and lobster)s stood at $11,885 per ton in 2022, shrinking by -7% against the previous year. Overall, export price indicated a mild expansion from 2012 to 2022: its price increased at an average annual rate of +1.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for crustacean preparations; prepared or preserved crustaceans (excluding crab, shrimps, prawns and lobster)s decreased by -34.2% against 2019 indices. The pace of growth was the most pronounced in 2019 when the average export price increased by 27% against the previous year. As a result, the export price reached the peak level of $18,068 per ton. From 2020 to 2022, the average export prices failed to regain momentum.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the Netherlands ($11,886 per ton), while the average price for exports to Japan ($11,885 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+2.6%), while the prices for the other major destinations experienced more modest paces of growth.

Price for Crustacean Preparations; Prepared or Preserved Crustaceans (Excluding Crab, Shrimps, Prawns and Lobster) in Vietnam (CIF) - 2022

The average import price for crustacean preparations; prepared or preserved crustaceans (excluding crab, shrimps, prawns and lobster)s stood at $10,630 per ton in 2022, jumping by 56% against the previous year. In general, the import price showed a buoyant increase. The pace of growth appeared the most rapid in 2021 an increase of 276%. The import price peaked in 2022 and is expected to retain growth in the near future.

As there is only one major supplying country, the average price level is determined by prices for China.

From 2012 to 2022, the rate of growth in terms of prices for China amounted to +10.0% per year.

Exports of Crustacean Preparations; Prepared or Preserved Crustaceans (Excluding Crab, Shrimps, Prawns and Lobster) in Vietnam

After three years of growth, shipments abroad of crustacean preparations; prepared or preserved crustaceans (excluding crab, shrimps, prawns and lobster)s decreased by -61.5% to 98 tons in 2022. Over the period under review, exports faced a abrupt slump. The growth pace was the most rapid in 2021 when exports increased by 36% against the previous year. As a result, the exports reached the peak of 254 tons, and then fell markedly in the following year.

In value terms, exports of crustacean preparations; prepared or preserved crustaceans (excluding crab, shrimps, prawns and lobster)s shrank significantly to $1.2M in 2022. In general, exports showed a dramatic downturn. The most prominent rate of growth was recorded in 2021 when exports increased by 20% against the previous year. As a result, the exports reached the peak of $3.2M, and then shrank sharply in the following year.

Top Export Markets for Crustacean Preparations; Prepared or Preserved Crustaceans (Excluding Crab, Shrimps, Prawns and Lobster) from Vietnam in 2022:

1. United States (54.1 tons)
2. Japan (37.6 tons)
3. Netherlands (6.1 tons)

Imports of Crustacean Preparations; Prepared or Preserved Crustaceans (Excluding Crab, Shrimps, Prawns and Lobster) in Vietnam

In 2022, supplies from abroad of crustacean preparations; prepared or preserved crustaceans (excluding crab, shrimps, prawns and lobster)s decreased by -63.5% to 12 tons, falling for the second consecutive year after two years of growth. In general, imports recorded a sharp downturn. The growth pace was the most rapid in 2020 with an increase of 179% against the previous year. As a result, imports reached the peak of 309 tons. From 2021 to 2022, the growth of imports of failed to regain momentum.

In value terms, imports of crustacean preparations; prepared or preserved crustaceans (excluding crab, shrimps, prawns and lobster)s reduced rapidly to $126K in 2022. Overall, imports continue to indicate a dramatic contraction.

Top Suppliers of Crustacean Preparations; Prepared or Preserved Crustaceans (Excluding Crab, Shrimps, Prawns and Lobster) to Vietnam in 2022:

1. China (11.9 tons)

Source: IndexBox Market Intelligence Platform