Seafood firms look to second quarter for exports to recover

The trend reversed in the fourth quarter of 2022, with strong decreases in all products as many foreign markets were hit by high inflation. Noting that seafood is an essential food item, Nguyễn Thị Ánh, Director of Song Tiến Seafood Corporation, predicted that from the end of the first quarter and the beginning of the second quarter of this year, orders would start to increase, particularly for affordable products. The situation would likely bring challenges and opportunities for Vietnamese seafood, especially in the US, China and the EU. VASEP General Secretary Trương Đình Hòe said that businesses expected market demand would improve and their seafood export activities would inflate again from the second quarter of 2023. In an optimistic scenario, he said that seafood exports in 2023 might fetch $10 billion.