Vietnam’s fisheries exporters stand at a critical juncture in the US market, facing a complex landscape of potential opportunities and significant challenges in the coming years, according to experts.
Vietnam’s fisheries exports generated nearly 2 billion USD in revenue from January – March, up 8% year-on-year, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).
Fisheries export value was estimated at 1.85 billion USD in the first quarter (Q1) of this year, a fall of 27% compared to the same period last year due to lower consumption and import demand under the impacts of inflation and economic recession, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).
Fisheries exports declined 4 percent year on year in July after surging 15 percent to earn 4.1 billion USD in the first half of 2021 as the COVID-19 outbreak has forced many seafood processing plants in the south to suspend production, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).
The slump in fisheries exports eased in September, with revenue reaching 820 million USD, an increase of 0.6 percent year-on-year, according to the Ministry of Agriculture and Rural Development (MARD).
Exports of tra (pangasius) fish slipped 39 percent in the first five months of 2020 compared to the same period last year to 456 million USD, the Ministry of Agriculture and Rural Development has said.
Fisheries exports in the first four months of this year fell 10 percent year-on-year to 2.18 billion USD, according to the Department of Farm Produce Processing and Market Development at the Ministry of Agriculture and Rural Development.
The Aquaculture Vietnam 2019 opened in the Mekong Delta city of Can Tho on October 16, drawing more than 100 firms of over 20 countries and territories.
Vietnam’s exports of agricultural products are expected to face more challenges by the end of the year, so enterprises must follow market developments at home and abroad and improve the quality of their products, according to experts.
