Aquatic export may touch US$ 7.4 bln in 2017

Tue, 24 Jan 2017 09:48:46 AM GMT + 7    Print   Email   Share:

VGP – Viet Nam is expected to pocket US$ 7.4 billion from shipping aquatic products abroad in 2017,  a year-on-year growth of 6%, according to the Viet Nam Association of Seafood Exporters and Producers (VASEP).

Optimistic news from U.S. market
The VASEP convened a meeting on January 19 in HCMC to wrap up operation in 2016 and define goals for 2017.
According to the association, 2016 was not a difficult year for the sector as earlier forecast. Export turnover hit US$ 7.053 billion, representing a year-on-year growth of 7.4%, higher than previous negative forecast. Vietnamese fisheries products were available at 161 foreign markets. Shrimp was the biggest hard currency earner with US$ 3.13 billion, up 7% against the same period last year and accounted for 44% of the market share.
Especially, the U.S. imported US$ 729 million of shrimps, posting a year-on-year surge of 11%. Shrimp export to the EU was US$ 598 million, up 9%.  
Catfish export brought back US$ 1.67 billion, representing a year-on-year surge of 7%. The U.S. imported US$ 366 million of pangasius and made up 22% of the total quantity.
In addition,  tuna export surged by 9% after three-year decline and valued US$ 500 million. The U.S. was also the largest tuna importer of Viet Nam with US$ 200 million of turnover.
Challenges but growth forecast
VASEP General Secretary Truong Dinh Hue said that in 2017 the Vietnamese aquaculture sector would cope with challenges as the value of raw materials for production remained high.
Especially, the domestic shrimp production faced  higher costs, about 10-30% in comparison with foreign peers such as India and Thailand. Pangasius would encounter with communication wars in export markets.  
Moreover, serious droughts and saltwater intrusion were forecast to hamper aquatic cultivation. The domestic sector would also cope with technical barriers and trade protection from foreign markets.
Mr. Hue forecast that aquatic export would be around US$ 7.4 billion, up 6% against 2016 if enterprises seize opportunities  and advantages to boost production and export.
  • By : Kim Loan/Online Newspaper of the Government


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