Aquatic exports to China shows sign of recovery

• Aquatic export revenue likely to miss 2019 target
• US remains Vietnam’s largest aquatic export market
• Hanoi to host agriculture, aquatic product fairs
• Export of aquatic products forecast to grow 8 percent in Q2

Vietnam exported nearly 13 million USD worth of tra fish to China in the first half of March, 1 million USD higher than February’s number, a sign of recovery for Vietnamese exports of aquatic products to the neighboring country.

According to the Vietnam Association of Seafood Exporters and Producers (VASEP), orders of aquatic products, particularly shrimp and tra fish, from China have returned since early April.

It forecast that Vietnam’s tra fish exports to China may surge by 40 – 50 percent in the coming months as the latter’s efforts to contain the spread of coronavirus prove effective.

The Republic of Korea, another key market for Vietnam, has also made significant progress in containing COVID-19, signalling demand will rebound soon.

VASEP expects that if the pandemic is brought under control in the second quarter of this year, production will return to normal in the second half, which is likely to be a “golden stage” for Vietnam to boost shipments of agricultural products.