Export revenue of aquatic products is estimated to hit 2.7 billion USD in the third quarter, a 13 percent rise year-on-year, said the Vietnam Association of Seafood Exporters and Producers (Photo: VNA) HCM City (VNA) – Export revenue of aquatic products is estimated to hit 2.7billion USD in the third quarter, a 13 percent rise year-on-year, said theVietnam Association of Seafood Exporters and Producers (VASEP).
After astrong increase of 17 percent in the Q1, aquatic products exports in thefollowing quarter slowed down to 5.7 percent, raking in 2.2 billion USD. Theslower increase rate was attributed to sharp decline in shrimp prices amidincreasing global supply.
In July,export value of aquatic products was at 793 million USD, up by 7 percent yearon year thanks to the recovery of shrimp shipments.
Thefigure for the first seven months came to about 4.78 billion USD, up 8.5percent against the same period in the previous year.
Accordingto experts, aquatic exports are facing many challenges in import markets,including anti-dumping tariffs on shrimp and tra fish in the US and the European Commission’s“yellow card” on illegal, unreported, and unregulated (IUU) fishing.
However, as demand for shrimp is likely to rise and domestic prices ofmaterial shrimps become stable, export is expected to recover in upcomingmonths.
In January-July,shrimp export earned nearly 2 billion USD, recording an increase of 5.5 percentyear-on-year.
Asidefrom shrimp exports, VASEP said that tra fish exports will see stronger growth,at around 30 percent, in remaining months of the year, along with seafoodproducts like tuna, squid and octopus.-VNA
