Illustrative image (Photo: VNA)Hanoi (VNA) – Export revenue of aquatic products in August was estimatedat 833 million USD, bringing the result for the first eight months of this yearto 5.52 billion USD, a drop of 1.2 percent over the same period last year.
Accordingto the Agro Processing and Market DevelopmentAuthority (AgroTrade), top four markets of Vietnamese aquaticproducts in the first seven months of this year were Japan, the US, China and theRepublic of Korea, with their combined consumption accounting for 56.5 percentof Vietnam’s total earnings from the products.
In the reviewedperiod, Vietnam shipped to the US 802.56 million USD worth of aquatic products,up 1.1 percent year on year, while earning 811.07 million USD in the Japanesemarket.
Strong growth wasseen in many markets, including Taiwan (China) (16.3 percent), Mexico (14.6percent), Malaysia (12.3 percent), and Japan (10.4 percent).
Shrimp and trafish remained the major export product of the sector. Exports of white-legshrimps accounted for 25.7 percent of the total export revenue, while that oftra fish made up 24.05 percent of the total.
According toTruong Dinh Hue, General Secretary of the Vietnam Association of SeafoodExporters and Producers (VASEP), after the 13th periodof review (POR 13) of anti-dumping tariff on Vietnamese warm-water shrimpexported to the US, 31 Vietnamese firms will enjoy zero percent tax rate in themarket.
He held that this is a good chance for businesses to increaseexport to the US as with the tax rate, Vietnamese shrimp can compete with sameproduct from other suppliers.
Commenting on the shrimp export situation in the future, Hoe saidthat the demand for shrimp will increase towards the end of the year, thusraising export volume. However, the rise will depend on domestic materialsupply, he added.
In 2020, bright prospects are forecast for shrimp export, heasserted, adding that the question is whether domestic supply can meet demand.
Meanwhile, Vietnam imported 133 million USD of aquatic products inAugust, pushing the total for the first eight months of 2019 to 1.19 billionUSD, up 3.8 percent year on year.-VNA
VNA
