Viet Nam targets its seafood export value at US$ 7.1 billion in 2017 - N.G Vietnam Seafood
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Viet Nam targets its seafood export value at US$ 7.1 billion in 2017

Viet Nam targets its seafood export value at US$ 7.1 billion in 2017

Seafood continues to confirm its position as key export item in agriculture sector with export value of US$ 7 billion. In 2017, export value of tra fish and blackish water shrimp is expected to create breaking through in the Viet Nam’s seafood export picture.

Making great contribution to agriculture sector’s export

According to Vietnam Association of Seafood Exporters and Producers, in 2016 draught and salt intrusion in Me Kong Delta region, coupled with environmental incident which caused fish dead in the 4 central coastal provinces in late April 2016 badly affected Viet Nam’s fisheries export. However, thanks to the recovery in importing markets, coincided with seafood businesses’ efforts in overcoming difficulties, exports of key recorded an increase of 6 – 11 per cent.

Seafood continues to confirm as spearhead of agriculture sector, representing the highest contribution to agriculture sector’s export value with export value reaching US$ 7 billion, up 6.5 per cent compared to the same period last year.

In 2016, Viet Nam’s seafood item structure saw unchanged. Shrimp still accounted highest proportion of 44 per cent, followed by tra fish, 24 per cent, tuna, 7 per cent and marine fish, 16 per cent.

Top five importers of Viet Nam’s seafood including U.S, EU, Japan, South Korea and China saw a change in position and proportion in imports.

The U.S remained the leading importer of Viet Nam’s seafood, accounting for 21 per cent. tra fish, shrimp and tuna contributed greatly to this proportion. While the U.S’s market share increased by 2 per cent that of Japan reduced from 16 per cent to 15 per cent and EU from 18 per cent to 17 per cent.

Notably, with a strong increase in importing black tiger shrimp, tra fish and tuna from Viet Nam, China has surpassed South Korea to become the fourth largest importer of Vietnamese seafood, accounting for 12 per cent, an increase of 3 per cent compared to the same period last year.

Expanding tra fish and black tiger shrimp farming

According to Vietnam Association of Seafood Exporters and Producers, world demand for seafood is forecast to continue rising.

In 2017, Viet Nam’s shrimp export is forecast to record a positive growth thanks to increase in the world market demand. EU would increase shrimp import from Viet Nam since Viet Nam has applied effectively measures for controlling antibiotics. Viet Nam would take fully advantage for developing shrimp farming and supplying high added value products for the market. Also, tra fish will be an important export item and its export value is expected to reach US$ 1.7 billion.

However, there would be some challenges facing fisheries sector in 2017 such as draught, salt intrusion, and trade barriers, strict requirements on quality from import markets.

Export value targeted at US$ 7.1 billion

In spite of facing these challenges, fisheries sector targets its export value at US$ 7.1 billion in 2017.

To realize this goal, Deputy Minister of Agriculture and Rural Development Vu Van Tam said in 2017, fisheries sector will fully tap potentials for development of aquaculture and fishing.

Particularly, regarding blackish water shrimp, total shrimp farming area was 700 thousand ha, including 95 thousand ha of industrial shrimp farming and over 600 thousand ha for extensive farming; however, productivity was still low. Therefore, it should enhance the average production/ha.

Regarding tra fish, in 2017 it should build a development strategy for tra fish. Of which, tra fish businesses will supply markets with high quality and tra fish brand name will be built. In addition to developing tra fish fillet, value added tra fish products will be produced. Also, domestic markets should be focused on since this market has many chances to expand with population of 90 million people. Apart from this, tra fish businesses should be active in setting plan to bring tra fish products into supermarket and online retails since Vietnamese tra fish is favored by consumers due to its quality and reasonable price.

Source: Giang Huong –