Business

Vietnam seeks new markets for agro-forestry-fishery products

Vietnam is struggling to explore new markets for its agro-forestry-fishery products as the 13 percent annual plunge in export value during the first quarter was partly ascribed to the excessive dependence on traditional markets, the Government’s online newspaper reported.
Vietnam is struggling to explore new markets for itsagro-forestry-fishery products as the 13 percent annual plunge in exportvalue during the first quarter was partly ascribed to the excessivedependence on traditional markets, the Government’s online newspaperreported.

Following the steepest ever fall in bothexport volume and value in the first three months of 2015, the coffeeindustry is returning its attention to the domestic market which hastraditionally consumed only 10 percent of the total output.

While around 35 percent of the production in the world’s top coffeeexporting countries like Brazil and Indonesia are sold domestically,Vietnamese coffee producers have largely ignored the local market, saidGeneral Secretary of the Vietnam Coffee and Cocoa Association Phan HuuDe.

De said the association will strive to boost domestic coffee sales to 15 percent.

The aquatic sector, contributing to 30 percent of agro-forestry-fishery shipments, is also looking for new markets.

It saw a 20 percent drop in the overseas shipments of fishery productsin the first quarter as major aquatic exporting countries recovered andothers implemented strong agriculture protection policies.

Vice General Secretary of the Vietnam Association of Seafood Exportersand Producers Nguyen Hoai Nam said decreases have been recorded intraditional markets, noting the 44 percent nosedive in exports to the USdue to impacts of anti-dumping duties and the 11.73 percent fall inJapan due to JPY’s depreciation against USD.

Namsaid seafood processors are seeking new partners and markets in Asialike China, Hong Kong, the Republic of Korea (RoK), and Arab countries.

The RoK market is not too strict on technicalcriteria and China and its special administration region Hong Kong areaccessible thanks to culinary similarities with Vietnam, he added.

Deputy Minister of Industry and Trade Tran Tuan Anh said the urgentsolution is to overhaul the connections between agro-forestry-fisheryproduction areas and the distribution network, promoting purchaseefficiency.

Besides helping enterprises improvecapacity, the ministry will also foster promotion activities andbrand-building programmes to assist them in gaining a firm foothold bothat home and abroad.-VNA
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