Vietnam: Frozen Atlantic Halibut Market 2022

Frozen Atlantic Halibut Market Size in Vietnam

The Vietnamese frozen atlantic halibut market surged to $X in 2020, growing by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, the total consumption indicated a remarkable increase from 2007 to 2020: its value decreased at an average annual rate of -X% over the last thirteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, consumption increased by +X% against 2018 indices. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Frozen Atlantic Halibut Exports

Exports from Vietnam

In 2020, exports of frozen atlantic halibut from Vietnam soared to X tons, picking up by X% against the year before. Overall, exports posted a mild expansion. The pace of growth was the most pronounced in 2012 when exports increased by X% against the previous year. Exports peaked in 2020 and are expected to retain growth in years to come.

In value terms, frozen atlantic halibut exports reached $X in 2020. In general, exports recorded a noticeable setback. The most prominent rate of growth was recorded in 2012 with an increase of X% y-o-y. Exports peaked at $X in 2007; however, from 2008 to 2020, exports remained at a lower figure.

Exports by Country

Egypt (X tons) was the main destination for frozen atlantic halibut exports from Vietnam, with a X% share of total exports. Moreover, frozen atlantic halibut exports to Egypt exceeded the volume sent to the second major destination, Qatar (X tons), sixfold.

From 2007 to 2020, the average annual rate of growth in terms of volume to Egypt amounted to +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Qatar (+X% per year) and Japan (-X% per year).

In value terms, the largest markets for frozen atlantic halibut exported from Vietnam were Egypt ($X), Japan ($X) and Qatar ($X), with a combined X% share of total exports.

Qatar saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2020, the average frozen atlantic halibut export price amounted to $X per ton, reducing by -X% against the previous year. In general, the export price showed a perceptible descent. The most prominent rate of growth was recorded in 2012 when the average export price increased by X% against the previous year. As a result, export price attained the peak level of $X per ton. from 2013 to 2020, the growth in terms of the average export prices failed to regain the momentum.

Prices varied noticeably by the country of destination; the country with the highest price was Japan ($X per ton), while the average price for exports to Egypt ($X per ton) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to Japan, while the prices for the other major destinations experienced a decline.

Frozen Atlantic Halibut Imports

Imports into Vietnam

In 2020, overseas purchases of frozen atlantic halibut were finally on the rise to reach X tons for the first time since 2007, thus ending a twelve-year declining trend. Over the period under review, imports, however, saw a relatively flat trend pattern. Over the period under review, imports hit record highs at X tons in 2007; however, from 2008 to 2020, imports remained at a lower figure.

In value terms, frozen atlantic halibut imports surged to $X in 2020. In general, imports, however, showed prominent growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2020, Russia (X tons) constituted the largest frozen atlantic halibut supplier to Vietnam, with a X% share of total imports. Moreover, frozen atlantic halibut imports from Russia exceeded the figures recorded by the second-largest supplier, Canada (X tons), twofold. Iceland (X tons) ranked third in terms of total imports with a X% share.

From 2007 to 2020, the average annual growth rate of volume from Russia totaled +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (+X% per year) and Iceland (+X% per year).

In value terms, Russia ($X) constituted the largest supplier of frozen atlantic halibut to Vietnam, comprising X% of total imports. The second position in the ranking was occupied by Canada ($X), with a X% share of total imports. It was followed by Iceland, with a X% share.

From 2007 to 2020, the average annual growth rate of value from Russia totaled +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (+X% per year) and Iceland (+X% per year).

Import Prices by Country

The average frozen atlantic halibut import price stood at $X per ton in 2020, shrinking by -X% against the previous year. Over the period under review, the import price, however, enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2019 when the average import price increased by X% y-o-y. As a result, import price reached the peak level of $X per ton, and then reduced in the following year.

Average prices varied noticeably amongst the major supplying countries. In 2020, the countries with the highest prices were the U.S. ($X per ton) and China ($X per ton), while the price for Canada ($X per ton) and Russia ($X per ton) were amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by the U.S., while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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