Export of aquatic products forecast to grow 8 percent in Q2
Exports of aquatic products in the second quarter could increase by 8 percent at the highest, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).
Hanoi (VNA) – Exports of aquatic products in thesecond quarter could increase by 8 percent at the highest, according to theVietnꦍam Association of Seafood Exporters and Producers (VASEP).
The association said the increase could be achieved ifshipments of seafood such as sea fish, tuna and octopus post strong growth andthose of Tra fish are kept stable. Aquatic product exports in the first quarter of this year showeda slowdown with an increase of only 1 percent to 1.8 billion USD, due to thedownward trend in shrimp export that has persisted since last year. Shrimpshipments in the January-March period dropped by 17 percent amidst fallingprices, high stockpiles in overseas markets and fierce competition in the worldmarket. Tra fish exports also posted a lower growth in the firstquarter this year, at 8 percent, compared to 37 percent in the previousquarter. However, exports of several kinds of seafood rose strongly, such astuna (19 percent), squid and octopus (12 percent) and other fish (22 percent). On terms of markets for Vietnamese seafood, the US droppedto the third place after Japan and the US due to reductions in its import of shrimpand Tra fish. High anti-dumping tariffs and competition pressure will continueto affect Vietnam’s export of shrim and Tra fish to this market in the monthsahead. However, VASEP hopes that the upcoming two seafood fairs inthe US and Europe will help import demands in those two markets pick up.-VNA
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Illustrative image (Photo: VNA) 
