Illustrative image (Source: VNA)Hanoi (VNA) – Theexport of aquatic products earned the country 372 million USD in February,bringing the total export value of those products in the first two months of 2019to 1.11 billion USD, up 4.4 percent from a year ago.
According to the Department of Farm Product Processingand Market Development under the Ministry of Agriculture and Rural Development, the top four importers of Vietnam’s aquatic products in the period were Japan,the US, China and Republic of Korea, which accounted for 53 percent of thetotal export value.
Strong growth was recorded in shipments toMexico (32.4 percent), Canada (27.8 percent), the US (24.9 percent) and Japan(17.7 percent).
Meanwhile, the country imported247 million USD worth of aquatic products in January-February, down 9.3 percentfrom the same period last year.
The department forecast thatVietnamese pangasius exporters will face strong competition from Myanmar on theChinese market in the time ahead, as Myanmar will soon complete a complex ofpangasius breeding farms in Ayeyawady to serve export.
However, there is good news for shrimpexporters as they will benefit from favourable tariffs under the Comprehensiveand Progressive Agreement for Trans-Pacific Partnership (CPTPP) which tookeffect for Vietnam on January 14 this year.
The department envisionedtwo-digit growth for shrimp shipments to Japan in 2019 while advising theexporters to renew their approach to the Japanese market, enhance promotion ofproducts and continue to improve product quality.
The export of aquatic productsis expected to rise by 17 percent to 3.5 billion USD this year despite likelyhurdles, according to the Vietnam Association of Seafood Exporters andProducers (VASEP).-VNA
VNA
