Chủ đề: seafood

According to the Vietnam Association of Seafood Exporters and Producers (VASEP), seafood export turnover stood at nearly $3.6 billion in the first four months of this year, up 44.5 per cent year-on-year, in which pangasius exports reached 60 per cent of the annual target and shrimp exports totaled $1.36 billion, a 41.5 per cent increase year-on-year.

The fisheries sector has set a target of negative growth in fishing output while ensuring positive growth in export value. This is a major challenge in the context of processing plants having excess capacity and a lack of raw materials. The Ministry of Agriculture and Rural Development is working on the “Developing seafood processing” project, with the goal that by 2030, the proportion of value of deeply-processed seafood products will reach 45-50 per cent.

The fourth wave of Covid-19 made seafood enterprises wary about signing new export contracts because of concerns over congestion at ports and at border gates, especially with China tightening customs clearance procedures.

The billion-dollar seafood product industry is in a worrying state because of disruptions to domestic supply chains.

Tax rates and incentives in the agreement have resulted in rising seafood import volumes and value.

After a long period of silence on the stock market, seafood stocks broke out in June and July on the back of profits and future export potential. The Viet Dragon Stock Company (VDSC), however, believes that seafood companies will start to see a sharp fall in exports from August onwards. This may continue into the fourth quarter as Covid-19 infections continue.

Vietnam’s seafood industry will lose about $480 million a year if it receives a “red card” from the European Commission (EC) for illegal fishing. The industry’s capacity would reduce by at least 30 per cent if the “red card” was imposed for two or three years. Seafood currently contributes about 5 per cent of GDP and employs 4.7 million workers. The EU is Vietnam’s fifth-largest seafood market.