Tra fish sector keen to restore potential export markets in post-pandemic period
| |
Tra fish sector makes move to restore potential export markets in post-pandemic period |
This comes after the tra fish (pangasius) industry faced a range of challenges last year when the aquaculture output of pangasius increased rapidly from 2018. This ultimately led to an abundant supply and resulted in sharp decreases in the export price in the market while the prices of raw materials have since fluctuated due to the impact of the US-China trade war.
Most notably, the total farming area for tra fish last year surged by 15% to 6,205 hectares in comparison to 2018’s figure, with output reaching a total of 1.72 million tonnes, an annual increase of 21.1%, while export turnover dropped by 11.4% to US$2 billion against 2018.
At present, the COVID-19 epidemic has greatly affected the export of pangasius to major markets such as China, the US, the EU, and the Republic of Korea.
As a result, the export turnover of pangasius until March 30 suffered a severe drop of 29.3% to US$334 million against the same period last year.
Delegates at the meeting therefore emphasized that it must be anticipated that export turnover will suffer a similar setback this year due to the impact of the COVID-19, with the country’s major export markets not likely to bounce back immediately in the post-pandemic period.
Indeed, the Chinese market remains unstable and is a high-risk market, despite making up the destination for over 30% of the nation’s total pangasius exports.
Participants underlined the need to support domestic firms to increase trade promotion activities in a bid to expand into new markets and create greater distribution channels for the domestic market.
Nguyen Xuan Cuong, Minister of Agriculture and Rural Development, underscored the importance of focusing on the Chinese market throughout May and June, in addition to the EU market in June and July, while drawing up a series of strategies to make further inroads into the Japanese market which is currently a great consumer for tra fish.
Related News
Tra fish exports predicted to recover from third quarter
16:28 | 13/03/2023 Import-Export
Bright prospect for tra fish exports in 2023
15:29 | 16/02/2023 Import-Export
Over 90% of Tra fish on sale in US are from Vietnam
18:00 | 18/12/2022 Import-Export
Vietnam’s tra fish export value expected to reach 2.4 billion USD this year
15:31 | 16/12/2022 Import-Export
Latest News
Saigontex 2023 attracts over 1,300 domestic, foreign businesses
14:01 | 06/04/2023 Import-Export
Mong Cai international border gate sees strong recovery
16:15 | 05/04/2023 Import-Export
Vietnam a potential market for French businesses, investors: experts
16:12 | 05/04/2023 Import-Export
Import and export turnover across Cao Bang prospers but still exists difficulties
10:25 | 05/04/2023 Import-Export
More News
Cashew industry strives to "get on the shelves of world supermarkets"
10:24 | 05/04/2023 Import-Export
HCM City’s industrial production index down 0.9% in Q1
14:47 | 04/04/2023 Import-Export
Fisheries exports estimated at 1.85 billion USD in Q1
14:45 | 04/04/2023 Import-Export
Quang Ninh aims to attract quality FDI inflows
14:43 | 04/04/2023 Import-Export
Exports face many difficulties
13:29 | 04/04/2023 Import-Export
Manufacturing enterprises increase their competitiveness thanks to digital transformation
13:28 | 04/04/2023 Import-Export
32nd Việt Nam Expo promises to boost business linkages
14:19 | 03/04/2023 Import-Export
Prevention of price risks before news that Indonesia increases rice imports in reserve
09:52 | 03/04/2023 Import-Export
Japanese investors highly appreciate Vietnamese property market
17:41 | 02/04/2023 Import-Export
Your care
The system has not recorded your reading habits.
Please Login/Register so that the system can provide articles according to your reading needs.
Saigontex 2023 attracts over 1,300 domestic, foreign businesses
14:01 | 06/04/2023 Import-Export
Mong Cai international border gate sees strong recovery
16:15 | 05/04/2023 Import-Export
Vietnam a potential market for French businesses, investors: experts
16:12 | 05/04/2023 Import-Export
Import and export turnover across Cao Bang prospers but still exists difficulties
10:25 | 05/04/2023 Import-Export
Cashew industry strives to "get on the shelves of world supermarkets"
10:24 | 05/04/2023 Import-Export