Over 20 Vietnamese basa fish exporters withdraw from EU market

Nearly 25 Vietnamese enterprises exporting basa fish have withdrawn from the EU market since the beginning of the year.

Fishermen pack basa at Tân Thạnh fish farm cooperative in Tân Hội Commune, Vĩnh Long City, Vĩnh Long Province. — VNA/VNS Photo Vũ Sinh

Nearly 25 Vietnamese companies exporting basa fish have withdrawn from the EU market since the beginning of the year.

The Việt Nam Association of Seafood Exporters and Producers (VASEP) said that Việt Nam's basa exports reached US$788 million in the first half of the year, a year-on-year increase of 18 per cent.

While exports to the US and small-scale markets are experiencing strong growth, exports to the EU are continuously decreasing. The total value of basa exports to the EU reached US$51 million as of last month, a year-on-year decrease of 21 per cent.

The export value of basa to the EU has declined for the past two years.

A representative of VASEP said that due to changes in the EU market, many basa exporters had turned to other markets. By the end of May, nearly 25 Vietnamese exporters had withdrawn from the EU market.

Talking to Tiền Phong (Vanguard) newspaper, Trương Đình Hòe, VASEP general secretary of the Việt Nam Association of Seafood Exporters and Producers, said that after the Việt Nam - EU Free Trade Agreement took effect, Vietnamese basa exports to this market enjoyed a preferential tax rate, down to only 0 per cent, opening up great opportunities for Việt Nam's basa industry.

In the EU, Việt Nam dominates the basa market and seems to have no competitors. Some countries like Bangladesh and China also export basa to the market, but the volume is lower.

Hòe said that entering this year, the retail market in the EU has begun to recover after a deep decline due to the impact of the coronavirus.

However, the food service industry, including restaurants and hotels in the EU, is recovering very slowly.

Meanwhile, importers are more cautious in their orders, especially since the outbreak of the coronavirus. EU consumers have started to change their consumption habits, and are more interested in safety, of which they were already very demanding.

Customers asked for higher quality products but offered lower prices. The requirements for food safety standards were very strict, and if the product was found to be non-compliant, it would be simultaneously reported and thoroughly inspected at the port of entry, he added.

This could take from two to three weeks, causing costs incurred to increase. EU customers are also increasingly demanding basa has a sustainability certification, according to Hòe.

Trần Đình Luận, director general of the Directorate of Fisheries under the Ministry of Agriculture and Rural Development, said that to improve the value of basa exports to the EU market, businesses needed to invest in and improve processing capacity to meet safety standards and strict conditions from the EU.

At the same time, businesses also needed to operate actively and flexibly, reduce costs during operation, and increase adaptability and competitiveness in the context that the market will change due to the impact of the pandemic, he added. — VNS

Source: VNA
vietnamnews.vn

Related News

Many cases related to production of fake food prosecuted

Many cases related to production of fake food prosecuted

VCN - The production of fake food products has become more complicated. The Environmental Crime Prevention Police Department (C05, Ministry of Public Security) has proactively taken measures to combat, prevent and prosecute many violations.
The key to opening new doors for agricultural enterprises

The key to opening new doors for agricultural enterprises

VCN - Sustainable development is the future of agricultural enterprises. Enterprises that have made early changes to this trend are receiving positive support from international investment funds, not only in terms of capital but also in terms of strategy, market, and supply chain.
Seafood businesses face difficulties with S/C to export to Europe

Seafood businesses face difficulties with S/C to export to Europe

VCN - Seafood enterprises have encountered many difficulties and shortcomings - especially related to the certificate of origin (S/C), leading to the fact that enterprises cannot obtain the necessary documents for exporting seafood shipments to Europe.
WB expert: It is not necessary to iment a loose fiscal policy

WB expert: It is not necessary to iment a loose fiscal policy

VCN - According to experts from the World Bank (WB), to maintain growth momentum, it is necessary to continue institutional reform, promote public investment, and at the same time manage and monitor risks in the financial market.

Latest News

Vietnam trade mission in Germany seeks cooperation in automobile industry

Vietnam trade mission in Germany seeks cooperation in automobile industry

The Vietnam trade mission in Germany coordinated with the Berlin – Brandenburg automotive association (aBB) and authorities of the Vietnamese province of Nam Dinh to hold a roundtable on cooperation in the automobile industry.
New markets help fruit exports grow to record revenues

New markets help fruit exports grow to record revenues

Vietnam's fruit export revenue hit 4.63 billion USD in the first eight months of 2024, representing an increase of 30.6% compared to the same period last year, thanks to the opening of several key markets.
Vietnam aims for green, sustainable tourism

Vietnam aims for green, sustainable tourism

VCN - Green tourism is increasingly gaining attention and becoming an important development direction for many countries, including Vietnam. Green tourism will be an important lever for developing a green economy, helping green growth, towards the goal of achieving Net Zero (net zero emissions) by 2050.
Enhancing the role of localities in developing supporting industries

Enhancing the role of localities in developing supporting industries

VCN - Some localities with great potential for developing supporting industries have proactively issued their own policies to support businesses in training human resources, helping businesses access the global production chain.

More News

Mekong Delta promotes clean agricultural production to achieve Net Zero

Mekong Delta promotes clean agricultural production to achieve Net Zero

Localities in the Mekong Delta region have been progressively developing roadmaps for clean agricultural production as an effort to gradually guide Vietnam's agricultural sector towards the goal of "Net Zero" by 2050.
Wood export target of 15.2 billion USD feasible, challenges remain

Wood export target of 15.2 billion USD feasible, challenges remain

Despite market recovery, the wood industry needs to overcome formidable challenges to realise the export revenue target of 15.2 billion USD for the whole year, according to insiders.
Serious shortage and many impacts on seaport human resources

Serious shortage and many impacts on seaport human resources

VCN - According to the assessment of seaport enterprises in Vietnam, from 2024-2028, human resources at seaports will have strong changes in demand, due to the impact of technological trends to meet the task of developing the seaport economy in Vietnam.
Exports gain momentum

Exports gain momentum

VCN - With a highly open economy like Vietnam, exports are an important driving force for economic growth. In many major markets, the recovery in year-end consumption of goods creates more room for industries to contribute to export turnover.
The driving force for businesses to "sprint" at the end of the year

The driving force for businesses to "sprint" at the end of the year

VCN - Although the economy has shown many signs of recovery and business results are positive, the difficult period has not yet passed, forcing businesses to continue to make efforts to "sprint" in the last months of 2024.
Binh Duong: Export enterprises regain growth momentum

Binh Duong: Export enterprises regain growth momentum

VCN - Import-export activities in Binh Duong are on the path of recovery and growth. Notably, key export products have recorded positive signals with abundant orders.
Vietnam

Vietnam's furniture products introduced at UK fair

Furniture products of 15 Vietnamese businesses are introduced at the Source Garden Fair in Birmingham, UK, from September 10-12.
Foreign trade expected to set new record this year

Foreign trade expected to set new record this year

A sharp rise has been recorded in foreign trade over the past few months, and if this upward trend is sustained, this year’s foreign trade turnover is likely to break the record of 732 billion USD set in 2022.
Bewaring of international trade fraud

Bewaring of international trade fraud

VCN - If export enterprises are careless, they will be at risk of being negligent when approaching and drafting contracts and falling into the trap of trade fraud.
Read More

Your care

Latest Most read
Vietnam trade mission in Germany seeks cooperation in automobile industry

Vietnam trade mission in Germany seeks cooperation in automobile industry

The Vietnam trade mission in Germany coordinated with the Berlin – Brandenburg automotive association (aBB) and authorities of the Vietnamese province of Nam Dinh to hold a roundtable on cooperation in the automobile industry.
New markets help fruit exports grow to record revenues

New markets help fruit exports grow to record revenues

Vietnam's fruit export revenue hit 4.63 billion USD in the first eight months of 2024, representing an increase of 30.6% compared to the same period last year, thanks to the opening of several key markets.
Vietnam aims for green, sustainable tourism

Vietnam aims for green, sustainable tourism

VCN - Green tourism, also known as Net Zero tourism, is an inevitable trend. Booking.com's 2023 Travel Confidence Index survey shows that 90% of consumers are looking for sustainable options when traveling.
Enhancing the role of localities in developing supporting industries

Enhancing the role of localities in developing supporting industries

Some localities with great potential for developing supporting industries have proactively issued their own policies to support businesses in training human resources, helping businesses access the global production chain.
Mekong Delta promotes clean agricultural production to achieve Net Zero

Mekong Delta promotes clean agricultural production to achieve Net Zero

Localities in the Mekong Delta region have been progressively developing roadmaps for clean agricultural production as an effort to gradually guide Vietnam's agricultural sector towards the goal of "Net Zero" by 2050.
Mobile Version