Bright prospects for tra fish exports to major markets ahead

08-Apr-2020 Intellasia | VOV | 6:02 AM Print This Post

Vietnam’s tra fish exports recorded a number of positive signs from several major markets such as the United States and China during the first quarter of the year amid the impact of the novel coronavirus (COVID-19), according to the Vietnam Association of Seafood Exporters and Producers (VASEP).

Most notably, the first half of March saw the export value of tra fish (pangasius) to the US increase by 18.8 percent in comparison with the same period from last year.

At present, the US is the largest buyer of Vietnamese tra fish and accounts for 18.8 percent of the country’s total value of tra fish exports.

As of mid-March, the total value of tra fish exports stood at $267.8 million, with a few signs of recovery beginning to emerge when compared to last year’s figures.

According to export firms, the sale of tra fish to Hong Kong (China) has bounced back since February with export activities gradually beginning to return to normal.

Only during the first half of March did the export value of pangasius to this market come close to reaching $13 million, an increase of $1 million in comparison with the figures recorded in February.

If the export rate increases as projected, then the export value of tra fish to China over the coming months is likely to rise between 40 percent and 50%.

As a result of the disruption faced when trying to export products to the Chinese market during the opening months of the year, several Vietnamese exporters have sought out new markets.

The VASEP said that despite the epidemic situation affecting the export of aquatic products, it has also served to create opportunities for businesses as they seek to increase exports amid rising consumption demand for seafood products in the US.

https://english.vov.vn/economy/bright-prospects-for-tra-fish-exports-to-major-markets-ahead-412223.vov

 


Category: Economy, Vietnam

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