Illustrative image (Photo: VNA) HCM City (VNA) - The COVID-19 pandemic isstill influencing Vietnam’s fisheries exports, with export value down 10percent in June to just 626 million USD following a sharp decline in May of 16percent, according to the Vietnam Association of Seafood Exporters and Producers(VASEP).
Vietnam earned over 3.5 billion USD from exporting fisheriesproducts in the first half of 2020, down 10 percent against the same periodlast year.
In the January-June period, the sharpest fall was seenin the export of tra fish, at 31 percent, followed by tuna at 20 percent. Onlyshrimp exports enjoyed a rise, of just 3 percent.
According to VASEP, COVID-19 has caused a 35-50percent slump in global seafood demand, while businesses suffered from materialshortages and difficulties in transportation and payments, leading to financialtroubles.
As of the end of June, the strongest decline had been seenin the EU market, at 35 percent. Exports were down 6 percent in the US, 17percent in ASEAN, 9 percent in the Republic of Korea, 3 percent in China, and 5percent in Japan. Small increases were seen in only a few small markets, suchas the UK and Canada.
VASEP is not optimistic about fishery demand recoveringaround the world given that COVID-19 is a major concern in major markets suchas the US, the EU, and China. Stricter import regulations in China will alsoimpact Vietnam’s fisheries exports to the market as well as product prices.
It pointed to some positive signs, however, such asstable sales of frozen and canned seafood as well as the rise of online sales.
The EU-Vietnam Free Trade Agreement (EVFTA) is alsoexpected to help boost Vietnam’s fisheries exports over the remainder of theyear./.
Vietnam earned over 3.5 billion USD from exporting fisheriesproducts in the first half of 2020, down 10 percent against the same periodlast year.
In the January-June period, the sharpest fall was seenin the export of tra fish, at 31 percent, followed by tuna at 20 percent. Onlyshrimp exports enjoyed a rise, of just 3 percent.
According to VASEP, COVID-19 has caused a 35-50percent slump in global seafood demand, while businesses suffered from materialshortages and difficulties in transportation and payments, leading to financialtroubles.
As of the end of June, the strongest decline had been seenin the EU market, at 35 percent. Exports were down 6 percent in the US, 17percent in ASEAN, 9 percent in the Republic of Korea, 3 percent in China, and 5percent in Japan. Small increases were seen in only a few small markets, suchas the UK and Canada.
VASEP is not optimistic about fishery demand recoveringaround the world given that COVID-19 is a major concern in major markets suchas the US, the EU, and China. Stricter import regulations in China will alsoimpact Vietnam’s fisheries exports to the market as well as product prices.
It pointed to some positive signs, however, such asstable sales of frozen and canned seafood as well as the rise of online sales.
The EU-Vietnam Free Trade Agreement (EVFTA) is alsoexpected to help boost Vietnam’s fisheries exports over the remainder of theyear./.
VNA
