Vietnam’s tra fish exports bounce back

Vietnamese tra fish export has roared back to growth after a significant drop recorded earlier this year as countries have scaled up their imports, according to insiders.

Statistics from the General Department of Vietnam Customs showed that, the country raked in an estimated 725 million USD from shipping tra fish overseas, during the first five months of 2024, up 2% year-on-year.

The US remained the largest buyer, followed by China, Europe, and several South American markets, according to the Vietnam Association of Seafood Exporters and Producers.

The association said, the US’s consideration of recognizing Vietnam as a market economy, has brought positive prospects to many economic sectors, including the fisheries. If the recognition comes, this would be an advantage for exporters in the upcoming anti-dumping duty reviews on shrimp and tra fish, it noted.

The tra fish sector forecast that, exports will expand 10% in Q3 with fuel and logistics costs as well as interest rates cooling down./.