However, while seafood exports declined, categories, dried fish and canned fish, emerged as bright spots with higher export value compared to the same period last year. Specifically, in April, the export of dried marine fish of all kinds increased by 65%, reaching nearly 26 million USD; Accumulated in the first 4 months of 2023, this product has earned nearly 78 million USD (up 33% over the same period in 2022).

The two most popular types of dried fish from Vietnam currently are anchovies (accounting for 66%) and yellow snapper (14%)...

Recently, businesses have shifted their focus towards deep processing and refinement, targeting demanding markets such as Japan, Europe, and the United States. Moreover, seafood suppliers are not only under pressure to adjust prices to be attractive but also need to enhance their service offerings to stimulate demand. For example, as with fish products, many distributors worldwide are emphasizing the supply of pre-cut and seasoned fish, ready-to-eat or packaged with spices and cooking instructions...

When products are finely processed and tailored to the preferences of consumers, it not only benefits the end consumers in the importing countries but also increases the profits for Vietnamese processors and exporters. Estimates show that while raw and frozen exports may yield only 1.5-2 times the capital invested, deep processing and refinement can generate prices of 5-7 times the investment. Furthermore, the development of deep processing industry serves as a premise for Vietnamese seafood enterprises to participate more extensively in the global seafood value chain...