The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) is expected to create opportunities for Vietnam to expand markets for major exports like wood and timber products, and seafood.
Vietnam has many opportunities to increase white-leg shrimp exports to the European Union (EU) in the future, according to the Vietnam Association Seafood Exporters and Producers (VASEP).
Strong growth of local fisheries production and exports has helped many listed firms increase profits, with some even hitting their yearly profit targets in only nine months.
An international conference was held in the Mekong Delta city of Can Tho on October 3 to discuss ways to improve the value of shrimp by-products in Vietnam.
Vietnam’s aquatic products are forecast to bring home 9 billion USD from exports in 2018, up 7 percent from the previous year, said the Vietnam Association of Seafood Exporters and Producers (VASEP).
The Vietnamese shrimp exporters have been in a tough year in 2018 as world supply saw strong increases that brought down both shrimp price and demand in major markets.
The US Department of Commerce (DoC) has announced the final results of the 12th Period of Review (POR 12), lowering the antidumping tariff on shrimp imports from Vietnam.
The fishery sector needs to take actions to convince the European Commission (EC) to remove a “yellow card” warning on Vietnamese seafood so as to realise the set target of 9 billion USD in export turnover this year.
Vietnamese shrimp exporters need to improve quality of their products, and update procedures and requirements in the Republic of Korea (RoK) to overcome technical barriers that hinder the shipments, experts have said.
Various challenges face Vietnam’s shrimp exports to the US, as aside from high anti-dumping duties, Vietnamese businesses have to tackle harsh policies the US uses to protect domestic production.
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 (VASEP).
With the US tightening import rules for shrimp and abalone at the end of this year, Vietnamese processors and exporters need to start preparing data now, an American expert has said.
The agriculture sector’s export turnover in the first six months of 2018 reached some 20 billion USD, setting a decent pace by meeting half the year’s target of 41 billion USD.
Vietnamese seafood companies need to work harder to realise the export target of 10 billion USD set by the Ministry of Agriculture and Rural Development (MARD) when oversea shipments in during January-July were estimated at only 4.66 billion USD.
The price of material shrimps is forecast to recover in August and September after suffering drops over the past months, especially in the second quarter of 2018, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).
Vietnam’s export of aquatic products maintained a two-digit growth in H1 and is forecast to continue growing strongly in the rest of the year despite world's plunging shrimp prices.
The southernmost province of Ca Mau is striving to earn 2.5 billion USD from shrimp exports, and become the largest shrimp breeding hub in the country by 2025.
Vietnam’s export of aquatic products maintained a two-digit growth in the first half of 2018 and is forecast to continue growing strongly in the last half despite plunging shrimp prices worldwide.
