Fisheries export slump eases in September, signs of recovery seen
The slump in fisheries exports eased in September, with revenue reaching 820 million USD, an increase of 0.6 percent year-on-year, according to the Ministry of Agriculture and Rural Development (MARD).
Hanoi (VNA) - The slump in fisheries exports eased in September, withrevenue reaching 820 million USD, an increase of 0.6 percent year-on-year,according to the Ministry of Agriculture and Rural Development (MARD).
Shipmentstotalled 6.03 billion USD in the first three quarters, down 3 percent year-on-yearbut showing signs of a rebound in the third quarter after declines of 14percent and nearly 9 percent were posted in the first and second quarters,respectively, due to the impact of COVID-19.
The US,Japan, the EU, China, and the Republic of Korea remain the largest importers ofVietnam’s fisheries products, accounting for 60 percent of the total.
Accordingto the Vietnam Association of Seafood Exporters and Producers (VASEP), amongVietnam’s key fisheries products, only prawns have posted decent growth inexports over the last nine months, accounting for more than 44 percent of totalshipments. Tra fish exports have shrunk steadily, with its share of total shipmentsfalling to 17.6 percent.
After theEU-Vietnam Free Trade Agreement (EVFTA) entered into force in August, fisheriesexports to the EU rose slightly that month, by 1 percent year-on-year, with thelargest growth posted in prawns, squid, and octopus, according to MARD’s AgroProcessing and Market Development Authority.
Theauthority forecast that exports to the US, Vietnam’s largest buyer of fisheriesproducts, would continue to recover over the remaining months of the yearthanks to growing demand during the year-end holidays./.
The COVID-19 pandemic could provide a good opportunity for the Vietnamese fisheries sector to increase its share in oversea markets, especially with foreign rivals engulfed by lockdowns or other forms of restrictions, experts have said.
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Vietnam raked in 30.05 billion USD from exporting agro-forestry-aquatic products in the first three quarters of 2020 and the value is hoped to hit over 40 billion USD for the whole year, said Deputy Minister of Agriculture and Rural Development Phung Duc Tien.
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Production of tra fish for export. (Photo: VNA)
