Vietnamese seafood exports target niche markets
Vietnam’s seafood exporters are seeking ways to boost shipments to niche markets, as COVID-19 is disrupting supply chains, hindering logistics services and raising transportation costs.
According to the Vietnam Association of Seafood Exporters and Producers (VASEP), in August, Vietnam’s seafood exports to its key markets such as China, Japan, Germany, the Netherlands, Belgium, Denmark, and the UK reported year-on-year decreases of 35-45%.
In the contrary, impressive growth was seen in shipments to niche markets. Specifically, Vietnam’s seafood exports to Mexico rose by 72%, the Philippines 58%, Spain 48%, Egypt 38% and Portugal 14%.
At present, the value of exports to niche markets accounted for 8-10% of Vietnam’s total seafood export turnover.
