While Vietnam’s shrimp export was on downward trend in August, tra fish posted an impressive export growth, reported the Vietnam Association of Seafood Exporters and Producers (VASEP).
HCM City (VNA) – While Vietnam’s shrimp export was on downwardtrend in August, tra fish posted an impressive export grow෴th, reported the Vietnam Association of Seafood Exporters and Producers (VASEP).
From 456 million USD in May, shrimp broughthome only 365 million USD in August. In the first eight months of this year, shrimp export hit3 billion USD, up 22.5% year-on-year. DeputyDirector of the VASEP’s Training and Trade Promotion Centre Le Hang attributed the falling shrimp export to rising input costs and unfavourable weather conditionswhile the market demand stalled due to increasing inventories. Because ofinflation, exports to the US and China have fallen since July. Inthe US, Vietnamese shrimps account for nearly 10% of market share while Indiaand Indonesia make up around 20% each, and Ecuador alone 40% thanks to itsproximity to the US which results in cheaper transport costs.
Illustrative image (Photo: VNA)
Meanwhile,tra fish export soared by 114% annually to 187 million USD in August. Itsshipments maintained 2-3 digit growth. Onan eight-month calculation, tra fish raked in some 1.8 billion USD, up 81%year-on-year. Hangsaid apart from the US and the EU, member states of the Comprehensive andProgressive Agreement for Trans-Pacific Partnership (CPTPP) are bright spotsfor Vietnam’s tra fish export. In the first seven months of this year, they consumed over 13% of Vietnam’s total tra fishshipments, equivalent to 211.4 million USD, up 73% from the same period last year. Sheforecast that the export of the fish will maintain its growth between now and the year’s end./.
The Vietnam Association of Seafood Exporters and Producers (VASEP) is optimistic about tra fish exports this year with a substantial demand recovery in import markets.
The majority of tra fish exporters enjoyed high profits in the April-June period of this year thanks to a price increase cycle in the period, according to the sector’s financial report for the second quarter of 2022.
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Illustrative image (Photo: VNA) 
Illustrative image (Photo: VNA) 
