Illustrative photo (Source: VNA) Hanoi (VNA) - Vietnam’s aquatic product export is expected to hit 8.7-9billion USD, a year-on-year increase of 5-7 percent compared with last year's figure as demand is rising in many countries thanks to vaccination, accordingto the Ministry of Industry and Trade (MoIT).
Theimplementation of large-scale vaccinations in many countries helps peoplegradually feel secure and return to tourism, entertainment and publicactivities. Therefore, the demand for seafood will recover in both the restaurant,hotel and service sectors, it said.
Therecovery of the consumption market continued to affect the demand forprocurement and processing aquatic products for export, which dominated thetrend of increasing raw material prices.
Datafrom the Ministry of Agriculture and Rural Development’s AgriculturalProducts Processing and Market Development Department showedthat Vietnam’s aquatic export revenue was estimated at 3.24 billion USD by theend of May, up 12 percent over the same period last year.
TheUnited States, Japan, China and the Republic of Korea remained to be the topexport markets of Vietnamese seafood in the four months of this year,accounting for 56.1 percent of the total export value.
DeputyMinister of Agriculture and Rural Development Phung Duc Tien said that tra (Pangasius)fish and shrimp are items with significantly increased export value. He attributed the activeness of enterprises in market expansion to positive results of the export of the sector in general and the aquatic products in particular.
Pangasiusimports in some major markets such as China and South American markets tend toslightly increase with the rising demand for large-sized fillets while factoryinventories and the supply of raw fish of this size are currently are not high, Hai Quan (Customs) newspaper reported.
Accordingto the Agricultural Products Processing and Market DevelopmentDepartment, the world's demand for shrimp import would increase again,especially in large markets while the supply from countries including India andother suppliers would decrease due to the negative impact of the COVID-19 pandemic.
NguyenQuoc Toan, the department’s director, said: “It is forecast that Vietnam'sshrimp exports in the following months will still achieve good growth resultsdue to many advantages from Free Trade Agreements (FTAs) and stability infarming and production when the COVID-19 pandemic is put under control."
Thestable supply of pangasius has created favourable conditions for its exportactivities in the first half of this year. Therefore, he said, it is necessaryto focus on promoting pangasius exports to large and traditional markets suchas the United States, European Union, China and the Association of SoutheastAsian Nations (ASEAN) in the third quarter of this year.
Attentionshould be paid to the markets that are recovering including Russia and theUnited Kingdom, Toan said.
According to theMoIT, the exports of aquatic products to the Chinese, Japanese and EuropeanUnion markets would not recover strongly. Such markets as Australia, Canada, UK, Russia would continue to be newbright spots for aquatic products exports in the second half of the yearbecause the demand is increasing and there are no market barriers.
While enjoying favourable conditions, the export of aquatic products still faced manyobstacles from now until the end of the year, a representative of the MoIT said.
Specifically,the market demand focuses on canned products, dry goods, surimi, preserved andprocessed goods with affordable prices which a🔴re suitable for retailconsumption. Demand for fresh aquatic products would continue to decline, therepresentative said./.
