Mollusk exports to US decline
(VOV) - Mollusk exports to most markets over the past 11 months have earned US$63.565 million- a slight fall from last year’s same period figure.
According to the Vietnam Association of Seafood Exporters and Producers (VASEP), the US is now the third largest importer of mollusk products from Vietnam, after the EU and Japan due to a sharp decline of 23% to US$4.512 million since early this year.
In the reviewed period, the US mainly imported processed products worth US$3.4 million, accounting for 77.8% of its total mollusk imports from Vietnam.
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Vietnam’s fresh and frozen mollusk products exports to the US in the past 10 months dropped by 20.6% and 27.1%, respectively compared to the same period last year.
Against this backdrop, local businesses are shifting their exports to new markets, such as Australia, ASEAN and Taiwan which have achieved two-digit growth.
Exports to Australia grew by 5.8% to US$1.410 million by Mid-November. Despite gaining a small proportion of mollusk export earnings, many local businesses consider Australia as an attractive destination for trade cooperation even through it is a demanding market with strict requirements on food hygiene and safety.