MOIT VIETNAM | Seafood export value down 10% in first four months

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Seafood export value down 10% in first four months

5th May 2020 post by MOIT Vietnam

NDO – Vietnam’s total seafood export value in the first fourth months of this year fell by 10% to US$2.18 billion due to the impacts of the COVID-19 epidemic, according to the Agricultural Product Processing and Market Development Department under the Ministry of Agriculture and Rural Development.

In terms of export categories, the two main seafood products, namely tra fish (pangasius) and shrimp, dropped sharply by double digits. Specifically, the tra fish and shrimp export value reached US$420 million and US$748 million, down nearly 32% and 12%, respectively.

Japan, the US, EU and China remained the largest buyers of Vietnamese seafood, accounting for nearly 58% of total seafood export value. The value of seafood exports to Japan and the US market in the first quarter still saw a slight growth, although there was a sharp decline in the EU and Chinese markets, down over 28% and 27.5%, respectively.

Some businesses believe that exports to China will increase sharply in the coming months if the epidemic is brought under control.

According to the Vietnam Association of Seafood Exporters and Producers, the pandemic is greatly affecting the EU where a lockdown to contain it is making both goods transport and forwarding difficult. But the high demand for seafood, including tra, in the market means exports will likely recover.

Source: Nhan Dan news



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