Seafood exporters in Vietnam are not too worried though import demand for their products has taken a hit due to the coronavirus disease (COVID-19).
Following the outbreak of the acute respiratory disease caused by a novel coronavirus (COVID-19) earlier this year, Chinese consumers may change their eating habits, and shift to intensively processed products, especially seafood, according to market watchers.
The suspension of trade in aquatic and agriculture products at some northern border gates with China as a measure against the novel coronavirus (COVID-19) has caused a demand-supply imbalance in the market.
VOV.VN - Vietnam’s fisheries exports were estimated at US$556 million in January, a fall of 25 per cent in comparison with last year as export volume across several markets experienced a sharp decline due to the negative impact of the novel coronavirus (COVID19).
Vietnam’s total aquatic product export value in January fell by 12.5 percent year-on-year to 644 million USD due to the impacts of the novel coronavirus epidemic, according to the Vietnam Association and Seafood Exporters and Producers (VASEP).
Vietnam has targeted to earn 9 billion USD from fishery exports in 2020, a year-on-year increase of 7 percent, according to the Directorate of Fisheries.
Vietnam will strengthen controls on Ethoxyquin in feed production for the fishery industry to ensure stability in seafood exports to the EU, according to the Ministry of Agriculture and Rural Development (MARD).
The EU is a potential market for Vietnam's shrimp industry next year because it is the largest shrimp market in the world, while the shrimp production of this bloc has not met its demand, according to domestic seafood experts.
Vietnamese businesses should prepare to deal with potential trade barriers that could arise early next year when the European Union-Vietnam Free Trade Agreement (EVFTA) takes effect, experts have said.
VOV.VN - Vietnam’s bivalve mollusk exports to the EU market enjoyed an increase of 35 per cent during the third quarter of 2019, according to statistics released by the Vietnam Association of Seafood Exporters and Producers (VASEP).
Vietnam’s fisheries exports are unlikely to meet the US$10 billion target set by the Government for this year because of the multiple challenges like the US-China trade war, lack of demand and increasing competition.
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 shrimp exports continued to shrink over the last 11 months in the face of fierce competition from other major exporters. But it is expected to make its way back next year with the EU-Vietnam trade deal coming into force.
Vietnam’s aquatic export revenue is estimated to reach 778 million USD in November this year, pushing the total earnings in the first 11 months of 2019 to about 8 billion USD.
VOV.VN - Vietnam’s shrimp exports fell by 6.4 per cent to US$2.8 billion during the first ten months of the year, with exports to the EU hardest hit with a sharp decline of 19.9 per cent to only US$580 million, according to data released by the Vietnam Association of Seafood Exporters and Producers (VASEP).
VOV.VN - Vietnam’s tra fish exports to Malaysia have witnessed double-digit growth in recent times, according to figures released by the Vietnam Association of Seafood Exporters and Producers (VASEP).
Seafood exporters expect transport costs to surge by 30 percent when new international limits on sulfur content in fuel take effect next January.
VOV.VN - Vietnam’s aquatic exports during the first nine months of the year are estimated at US$6.3 billion, representing a slight decrease of approximately 0.8 per cent against the same period last year, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).
Local shrimp-breeding enterprises have mobilised investment from various sources to expand production in an aim to attract partners from shrimp supply chains from around the world.
VOV.VN - This year’s shrimp exports are expected to drop 4 per cent to US$ 3.4 billion in comparison to last year as competition from shrimp prices have exerted pressure on shrimp exporters.