Vietnam’s fishery export likely to reach 4.4 billion USD in H1

Vietnam’s export of fishery products is expected to reach 4.4 billion USD during January-June, a year-on-year increase of 6%, despite such formidable challenges as extreme weather conditions and competitive pressure regarding export prices, high input costs and shortage of materials, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).

The country shipped an estimated 3.6 billion USD worth of fishery products abroad in the first five months of this year, up 6.5% from the same time last year.

Export markets have showed signs of recovery, both in demand and prices, with fishery shipment to the US, Japan, the EU, and the Republic of Korea (RoK) posting positive growth from 5% to 26% in May.

As of the end of May, export to the US increased 13% to 635 million USD while that to Japan, the RoK, and the EU witnessed modest expansion of 3-4%.

With a view to realising the set target of 10 billion USD in fishery export revenue for the whole year, the Ministry of Agriculture and Rural Development has asked localities to join hands with enterprises and associations to keep close tabs with the market development so as to have rational production plans.

Meanwhile, enterprises should work together to expand markets, comply with market regulations, and propose amendments to policies to facilitate exports. Besides, they are urged to capitalise on advanced technologies to reduce production costs, promote linkage, and remove technical barriers./.