Tra fish exports continue to suffer from negative growth
| |
Tra fish exports continue to suffer from negative growth (Photo: tienphong.vn) |
VASEP says Vietnam’s tra fish exports to the Chinese market began to rebound between the end of February and early March following several Chinese processing plants resuming operations.
Throughout the four-month period, the total value of pangasius exports to China suffered an annual decline of 20.2% to US$111.1 million. Despite enduring a sharp drop, the northern neighbour remains the country’s largest export market for tra fish, making up 24.7% of total export value.
Indeed, March and April saw Chinese customers begin to import extra goods for stockpiling, while the main consumption power largely came through the online system or supermarket channels.
Meanwhile, after experiencing an increase of 26.4% during March, tra fish exports to the United States plummeted by 20.7% in April from the same period last year.
At present, the US remains the epicentre of the novel coronavirus (COVID-19) with all food and aquatic product processing factories encountering severe difficulties with regard to staffing and fully operating their premises. Consequently, Vietnamese pangasius exports to the US fhad fallen by 14.6% by the end of April.
ASEAN grew to surpass the EU as the third largest consumer of Vietnamese tra fish, after China and the US, accounting for 11.8% of the total value. Four-month pangasius exports to this lucrative market suffered a drop of 24.4% to US$53 million.
Due to the negative impact of the COVID-19, tra fish exports to the European Union during the reviewed period faced a number of hurdles with an export value reaching US$48.3 million, a drop of 36%.
Most notably, exports to the three largest markets in the bloc, the Netherlands, Germany, and Belgium, endured respective declines of 29%, 31%, and 38.8%.
According to VASEP, amid the complicated nature of developments in the COVID-19 epidemic especially in major export markets such as the US, EU, and Brazil, pangasius exports in the second quarter are projected to plunge and only recover in the third quarter if the epidemic is successfully brought under control globally.
Related News
Considering request to anti-dumping investigation on imported hot-rolled HRC steel
10:03 | 08/04/2024 Import-Export
Hundreds of tons of cinnamon essential oil are left in inventory due to export regulations
09:31 | 10/04/2024 Regulations
Exports in first 2 months reach high record ever
08:23 | 31/03/2024 Import-Export
Vietnamese goods are becoming more and more "qualified"!
10:17 | 25/03/2024 Import-Export
Latest News
Domestic retailers eye export-quality products
17:37 | 18/04/2024 Import-Export
Textile and garment exports recovered positively
10:26 | 18/04/2024 Import-Export
Launch of FDI Annual Report 2023
16:25 | 17/04/2024 Import-Export
Vietnam has opportunities to attract, develop the offshoring market
16:11 | 17/04/2024 Import-Export
More News
Nearly 600 million USD disbursed in support of agroforestry, aquatic sectors
16:09 | 17/04/2024 Import-Export
Be proactive and flexible with production materials
09:02 | 17/04/2024 Import-Export
Cooperate to build leading and "rich in vitality" state-owned enterprises
08:59 | 17/04/2024 Import-Export
Garment & textile sector tries to keep growth momentum
14:16 | 16/04/2024 Import-Export
Businesses capitalize on recovery momentum to explore market expansion
10:01 | 16/04/2024 Import-Export
Access to the Chinese market is increasingly convenient
15:12 | 15/04/2024 Import-Export
China, US, Japan – largest importers of Vietnam’s fishery products in Q1
15:04 | 15/04/2024 Import-Export
Vietnam’s agricultural products appeal to foreign customers
15:03 | 15/04/2024 Import-Export
Leverage to increase the scale of Vietnam - Laos trade turnover
10:51 | 15/04/2024 Import-Export
Your care
Domestic retailers eye export-quality products
17:37 | 18/04/2024 Import-Export
Textile and garment exports recovered positively
10:26 | 18/04/2024 Import-Export
Launch of FDI Annual Report 2023
16:25 | 17/04/2024 Import-Export
Vietnam has opportunities to attract, develop the offshoring market
16:11 | 17/04/2024 Import-Export
Nearly 600 million USD disbursed in support of agroforestry, aquatic sectors
16:09 | 17/04/2024 Import-Export