Tra fish exports forecast to increase by 50% in second quarter

VOV.VN - Tra fish (pangasius) exports are anticipated to soar by 50% in the second quarter of this year compared to the same period from last year, according to the Association of Seafood Exporters and Producers (VASEP).

Moving forward, tra fish prices will see an upward trend in the near future because of a shortage of raw materials potentially lasting until the end of the second quarter of the year, the association said.

Last year, due to the joint impact of the COVID-19 pandemic and supply chain disruption, many Tra fish farming households were unable to breed according to this year's aquaculture plan.

Furthermore, production, import, and export activities have been affected in many ways by drought and saltwater intrusion in the Mekong Delta, whilst a spike in food prices, international freight rates, and fuel prices over recent years have led to a shortage of Tra fish supply from the beginning of the year.

This scarce supply coupled with increasing demand is the primary factor that has caused the price of raw tra fish to be driven up, the VASEP analyzed.

Currently, the price of raw Tra fish has expanded by 25% compared to the end of last year, hitting a record high of roughly VND32,000 per kg, with some places even posting higher prices.

After enduring three dismal years, the Tra fish industry enjoyed a strong revival. According to the General Department of Customs under the Ministry of Finance, by the end of the first quarter of the year, Tra fish exports stood at an estimated US$646 million, representing a year-on-year rise of 88%,and accounting for roughly 27% of the nation’s total seafood export value.

The value of Tra fish exports to some of the world’s top markets grew by triple digits, with the US market being a typical case in point. The total export value of Tra fish as part of the highly lucrative market during the initial two months of the year reached US$94.6 million, up 120% over the same period from last year. The US can also be viewed as the number one Tra fish export market for Vietnamese enterprises.

Many local firms have therefore taken full advantage of the opportunity from the growing consumption demand to avoid not being subject to anti-dumping tax as a means of promoting sales to this market.

Besides the US, Tra fish exports to other markets such as Hong Kong (China) grew by 240% to US$86 million throughout the reviewed period. Elsewhere, even exports to Europe, a market which witnessed two consecutive years of decline, has seen Tra fish exports show signs of improvement.