Tra fish exports plummet 39 pct. in first five months
Exports of tra (pangasius) fish slipped 39 percent in the first five months of 2020 compared to the same period last year to 456 million USD, the Ministry of Agriculture and Rural Development has said.
Hanoi (VNA) - 🗹Exports of tra (pangasius) fish slipped39 percent in the first five months of 2020 compared to the same period lastyear to 456 million USD, the Ministry of Agriculture and Rur𝓰alDevelopment has said.
Fisheries exports to major markets such as China,Europe, and the US posted double-digit declines during the period due to the COVID-19pandemic, it added. The tra fish sector is expected to completely recoverin the third quarter if the pandemic remains under control and businesses reopen,according to the Vietnam Association of Seafood Exporters and Producers. China, which accounts for a substantial 22.5 percentof Vietnam’s tra fish exports, has seen recovery in demand. Vietnam’s northernneighbour has contained the pandemic and begun to resume trade activities. Inventories at some major tra fish importers,meanwhile, are quite low. General Director of the Directorate of Fisheries TranDinh Luan said that in the time to come, the sector will enhance its management.Farmers and processing enterprises have been urged to work in tandem withmarket demand so as to avoid redundancy and a shortage of supply for export. The sector will keep an eye on the market to quickly respondto and meet the requirements of importers when opportunities arise as well as to seeknew markets, he added./.
Despite the difficulties posed by the COVID-19 pandemic, Vietnam can still reach its annual export growth target of 7-8 percent if market opportunities are optimised, experts have said.
Vietnam’s tra fish exports fell 29.3 percent year on year to 334 million USD in the first three months of this year, due to the COVID-19 pandemic, but the industry – a big foreign currency earner – may fully recover in the third quarter, according to the Directorate of Fisheries.
The agro-forestry-fishery sector recorded a trade surplus of close to 3.3 billion USD in the first five months of 2020, a decline of a mere 2.3 percent year-on-year.
Diversifying products and adapting quickly to market fluctuations will help create growth momentum and remove difficulties for seafood exports, experts have said.
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Workers process tra fish for export (Photo: VNA) 
