Vietnam exported 7.24 billion USD worth of aquatic products in the past 10 months, up 6.2 percent year-on-year, reported the Agro Processing Market Development Authority (Agrotrade) under the Ministry of Agriculture and Rural Development.
Intensive processing has served as an effective tool for Vietnamese shrimp exporters to improve their competitive capacity in the context of a steep increase in the global supply which brought down the price and demand for shrimp in major markets.
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.
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.
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).
The seafood companies should work closer with various ministries such as trade and industry and foreign affairs to overcome trade barriers that hinder Vietnamese seafood exports, a top agriculture official said.
Building national trademarks for tra fish and shrimp was the highlight of a conference of the Vietnam Association of Seafood Processors and Exporters (VASEP) held in Ho Chi Minh City on June 12.
Vietnam is working to accelerate agricultural exports as growing global protectionism has impacted international trade and export of Vietnamese staples.
Vietnam’s shrimp export value to Canada reached 27.7 million USD by March 2018, a year-on-year increase of 16 percent, according to Vietnam Association of Seafood Exporters and Producers (VASEP).
The VASEP has requested the US DOC to review the preliminary result of anti-dumping duty administrative review on shrimp products imported from Vietnam in the 12th period of review (POR 12).
Vietnam’s shrimp industry will become a key economic sector if the national action plan for the development of the shrimp industry by 2025 meets its targets.
The Vietnam Association of Seafood Exporters and Processors (VASEP) has projected shrimp exports to continue gathering momentum this year, particularly in the EU and China.
Vietnam gained its highest ever seafood export value of 8.32 billion USD in 2017, a year-on-year increase of 18 percent, according to the Ministry of Agriculture and Rural Development.
The Vietnam Fatherland Front (VFF) will join hands with relevant agencies to organise a dialogue between 100 Vietnamese seafood businesses in the Mekong Delta region and the Australia’s Seafood Importers Association (ASIS) to promote seafood shipments to Australia, VFF President Tran Thanh Man has said.
Vietnam has so far this year exported 243.2 million USD worth of shrimp to the Republic of Korea (RoK), a surge of 29.8 percent year on year, reported the Vietnam Association of Seafood Exporters and Producers.
Vietnam’s shrimp exports to the EU market reached 483.6 million USD in the first eight months of this year, a rise of 30 percent over the same period last year, making the EU the top market of Vietnamese shrimp, the place which was earlier held by Japan.
The Ministry of Agriculture and Rural Development (MARD) recently issued a decision on tightening the control of disease safety and food safety for shrimp and shrimp products exported to Australia.
The Vietnam Association of Seafood Exporters and Producers (VASEP) held a seminar on world shrimp demand and Vietnam’s supply capacity in Ho Chi Minh City on August 29.
Business
