Despite the difficulties posed by the COVID-19 pandemic, Vietnam can still reach its annual export growth target of 7-8 percent if market opportunities are optimised, experts have said.
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.
Export revenue of tra fish to the Russian market in the first 10 months of this year fell 31 percent compared to last year to 12.5 million USD, reported the Vietnam Association of Seafood Exporters and Producers (VASEP).
Vietnam's tra fish (pangasius) industry has seen a plummet in stock prices due to falling tra fish prices and volatile export markets.
Many listed tra fish (pangasius) businesses reported a surge in profits in the second quarter of 2019, partially thanks to share sales and export growth.
The export of tra fish from Vietnam to the US market has continued its upward trend throughout the year and is predicted to have reached US$2.3 billion during 2018, according to the Vietnam Association of Seafood Exporters and Producers.
The export turnover of tra fish is forecast to hit US$2.1 billion in 2018, up 22% against the previous year, according to the Ministry of Agriculture and Rural Development.
Export turnover of tra fish reached 438.2 million USD in the first quarter of 2018, an increase of 18 percent year-on-year, according to the Association of Seafood Exporters and Producers (VASEP).
PSNews - Vietnam’s frozen tra fish fillets will be subject to anti-dumping duties of 2.39 USD to 7.74 USD per kg, which will adversely affect Vietnam’s fish exports to the US.
Experts have advised tra fish businesses to focus on the Asian market, particularly China and countries from the Association of Southeast Asian Nations (ASEAN) in 2017 in anticipation of difficulties from the current main markets of the US and EU.