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Vietnam’s aquatic product exports are expected to hit US$10 billion this year. (Photo: SGGP) |
The country’s major markets like the US, Japan, and the Republic of Korea are recovering, with the most positive signs seen in tra fish (pangasius) exports, according to Deputy Minister of Agriculture and Rural Development Phung Duc Tien.
The Vietnam Association of Seafood Exporters and Producers (VASEP) said tra fish exports in September recorded positive growth for the first time since the beginning of this year, at 1 percent year-on-year compared with sharp decreases previously.
Apart from the EU with double-digit growth in the month, members of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) such as Japan, Mexico, and New Zealand also reported hikes in this regard, ranging from 10 percent to 70 percent.
For Japan, after continuous decreases since March, tra fish exports to this market bounced back last month.
In shrimp exports, the drops have been curbed, with the revenue standing at US$2.5 billion between January and September, down 26 percent year-on-year. The US remained Vietnam’s biggest shrimp importer, followed by China.
VASEP forecast that total aquatic product exports in 2023 could reach about US$9.1 - 9.2 billion, down 16 percent from the previous year.
Tien stressed the need to take solutions to reduce production costs, raise price competitiveness, and ensure food hygiene to optimize opportunities for aquatic product exports in the time ahead.
