Vietnam tilapia exports hit $80m in 7 months, with Brazil biggest growth driver

Exports to Brazil accounted for half of Vietnam’s total tilapia export turnover of $80 million during the January-July period, which rose 55 percent from a year earlier, VASEP data showed.

With an exact year-on-year growth of 20,065 percent, Brazil was the biggest contributor to the increase in Vietnam’s tilapia exports during the period.

In July alone, tilapia exports to Brazil totaled $5 million, soaring 6,272 percent year on year.

Japan has also emerged as a promising market, particularly for higher-value tilapia products.

Vietnam's tilapia exports to Japan totaled $1.6 million in the first seven months, up 61 percent year on year, with July exports reaching $137,000, up 175 percent.

Notably, Vietnamese tilapia has begun entering the Japanese market as an ingredient for sushi and sashimi, opening up opportunities for higher-value seafood products.

The U.S. remained another major market, although shipments there declined significantly.

Vietnam exported $18 million worth of tilapia to the U.S. in the first seven months, down 42 percent from a year ago and accounting for 23 percent of total exports, according to VASEP.

Exports to Saudi Arabia, meanwhile, reached $5 million, up 24 percent and representing 6 percent of the total.

Tran Thuy Que Phuong, deputy secretary general of VASEP, told Tuoi Tre (Youth) online newspaper on Saturday that tilapia still accounts for a relatively small share of Vietnam's total seafood export value but has significant room for growth and could reach more markets.

She said the fact that some countries, including the U.S., are turning away from Chinese tilapia presents an opportunity for Vietnamese exporters.

However, Vietnam needs to develop well-planned farming areas, find ways to reduce production costs compared with China and increase investment in deep processing to make the most of the opportunity, she said.

It also needs policies to retain customers in Brazil while promoting tilapia exports to other markets, Phuong added.

VASEP is coordinating with state management agencies and businesses to research and develop larger tilapia farming areas, according to Phuong.

The Mekong Delta has significant advantages for tilapia farming, and the government is expected to implement specific programs to develop the sector, she said.

Vietnamese tilapia is exported in various forms, including processed and frozen products and fillets, with Japan showing particular interest in fillets for sushi and sashimi.

Vietnamese tilapia also has advantages in terms of farming conditions and product quality.

The fish is raised in freshwater and brackish-water environments under controlled conditions, helping produce firm flesh, a naturally sweet flavor and relatively few small bones, according to industry experts.

Tilapia prices have also increased from a year earlier, with traders currently paying farmers around VND36,000 ($1.4) per kilogram at the pond, up VND6,000-8,000 ($0.2-0.3).