In the first 5 months of 2024, Vietnam’s crab exports to China spiked by 502% year-on-year (y-o-y). At the same time, shipments to the European Union (EU) plummeted due to origin restrictions.
Data by the General Department of Vietnam Customs shows that China-bound crab shipments hit $41 million up to May 2024. In May alone, China gobbled up $11 million of the total crab exports from Vietnam, a 418% yearly rise.
Vietnam’s total crab export value in these five months reached $97 million, a 76% growth over the January-May 2023 tally.
Driving the market other than China was the United States at 32% y-o-y growth rate. The United States promotes other agricultural produce from Vietnam, particularly pepper whose import share reached 26.6% in the first half, 2024.
U.S.’ neighbor, Canada, also managed to record a Vietnam crab import growth rate of 54% up to May, 2024.
Japan, EU Lag Vietnam’s Crab Exports
Dragging the export momentum were the EU and Japan, both of which saw shipment falls in April and May.
In the EU context, however, yearly imports were also down by 58% from the corresponding January-May 2023 period. Geopolitical factors including the European Commission’s “yellow card” over illegal fishing in Vietnam, contributed to the significant decline.
For Japan, May 2024 crab imports from Vietnam declined by 9% month-on-month to over $6 million. This is even as yearly imports magically gained by 7% to $29 million.
Japan has a refined taste in crabs and imposes strict demands, which some of the shippers from Vietnam cannot meet.
China and Hong Kong
While Japan’s exports are falling, Vietnam banks on China and Hong Kong, for 42% of its yearly shipments of seafood.
The two markets have consistently seen three-digit growth in most of the first half of 2024. Before March, crab export turnover from China and Hong Kong witnessed 395% growth over that of the corresponding Q1, 2023.
The key driver of first quarter export hike is the Chinese Lunar New Year, which spikes seafood demand in the region.
Thus, Vietnam’s crab exports look onto future increments even though the peak season in spring has passed. And as the data below reveals, sales of crabs in Vietnam mean much to the country’s thriving seafood industry.
Vietnam Crab Statistics
In 2021, Vietnam was the 6th biggest exporter of prepared or preserved crabs by volume and the 5th biggest by turnover. According to the World Bank, the volume reached 7,522.57 tonnes while the turnover hit $143,957,890. However, Vietnam was not in the top 5 countries exporting fresh crabs, led by the United States at $24,800 in 2022.
Where do crabs come from in Vietnam?
Vietnam has a rich culture of crab fishing at sea, fields and deltas. Regarding deltas, Vietnam has 49 freshwater crab species, 42 of which are exclusive to the nation. When the fields on the Mekong Delta in the south become flooded around September, locals fish from these waters using special bamboo baskets. The crabs normally sell cheaply at between 15,000 and 35,000 VND () a kg. Other fishing spots are on the 3,000 km-long coastline, especially the contested South China Sea. Kien Giang in the southwest of the country on the Gulf of Thailand is where blue swimming crabs are abundant.
How high is crab and seafood consumption in Vietnam?
Crab and all seafood consumption in Vietnam reached 3,850,000 kg of seafood or 29.56 kg per capita in 2020. Some 17.82 kg per capita of the yearly consumption was freshwater seafood and 7.41 kg per capita was marine seafood.