By 2030, aquaculture production is expected to reach 7 million tons with export revenue of US$12 billion per year, while the growth rate of aquaculture value is expected to reach an average of more than 4.5 percent a year.
In the week before Tet, the volume of goods transported to Binh Dien market in Nguyen Van Linh Boulevard in Ho Chi Minh City’s District 8 is expected to increase by an average of 20 percent to 35 percent compared to normal days.
Vietnam's export value of agro, forestry, aquatic products in the first eight months of the year hit about US$36.3 billion, a year-on-year rise of 13.1 percent, according to the Ministry of Agriculture and Rural Development (MARD).
The exports of aquatic products are expected to fetch 2.8-3 billion USD in the second quarter, a year-on-year increase of 36-38 percent, thanks to the strong growth of key products, according to Le Hang, deputy director of the Vietnam Association of Seafood Exporters and Producers (VASEP)’s Training and Trade Promotion Centre.
After a temporary halt of operation due to the Covid-19 crisis, agricultural and aquatic products export businesses have worked at their full capacity to meet customers’ orders from the beginning of this year.
The Office of the Ministry of Industry and Trade (MoIT) and the Trade Promotion Agency, on the afternoon of April 22, informed the press that the EU market needed to import a large volume of seafood after the pandemic, opening up opportunities for Vietnamese seafood enterprises.
The signing of many free trade agreements (FTAs) with other countries has helped several Vietnamese goods, including agricultural and aquatic products, open their doors widely to the world. In the opposite direction, the domestic market has also been importing a large volume of agricultural and fishery products from foreign countries, especially countries with trade relationships with Vietnam, creating more product diversity and more choices for consumers.
Many localities in the Mekong Delta are currently undergoing social distancing according to Directive No.16 of the Prime Minister, so trade activities of seafood products encounter difficulties, dragging prices down, causing many fishing boats to operate ineffectively. Besides, the fishing grounds are increasingly depleted, and oil prices are at a high level, so many fishing boats have decided to temporarily stop going to sea.
According to information of the working group of the Ministry of Agriculture and Rural Development (MARD) in Southern provinces on the situation and ability to supply various types of food and foodstuffs to Ho Chi Minh City, updated until the night of July 23, the volume of goods is now extremely abundant, not afraid of a shortage.
At the conference on implementing solutions to develop livestock and fisheries in the new situation held on the morning of April 26, the Ministry of Agriculture and Rural Development (MARD) said that aquaculture farmers are facing many difficulties and only maintain a farming area of 1.3 million hectares with a production of about 4.75 million tons this year.
According to the Vietnam Association of Seafood Exporters and Producers (VASEP), thanks to free trade agreements, it is forecasted that Vietnam's seafood exports will increase by 10 percent, reaching above US$9.4 billion next year.
The Office of the Ministry of Agriculture and Rural Development on December 7 said that the export turnover of agricultural, forestry, and aquatic products in the first 11 months reached US$37.42 billion, up 2.4 percent over the same period last year, and the trade surplus hit nearly $9.36 billion, up 10.9 percent.
Chinese authorities might strengthen food safety inspection, supervision, quarantine testing, and traceability on imported agricultural and aquatic products that will possibly affect the progress of customs clearance of goods at border gates between Vietnam and China.
Since the beginning of this year, prolonged hot weather and saltwater intrusion have caused disadvantages for shrimp-farming areas in the Mekong Delta. Besides, the Covid-19 pandemic has also affected the export of shrimps, leading to a decline in export turnover.
According to the Vietnam Association of Seafood Exporters and Producers (VASEP), due to impacts of the Covid-19 pandemic, most enterprises have suffered a decline of 35-50 percent in export orders as they were canceled and delayed or faced a shortage of raw materials.
The exporting of several agricultural, and aquatic products to China has had to temporarily halt as the border gates are temporarily closed due to the outbreak of the novel coronavirus, urging farmers and export enterprises to look for consumption markets amid the impacts of the disease.