Aquaculture export looks to set new record

Illustration photo

Last year, despite a mountain of challenges like natural disasters, tax barriers such as high anti-dumping duties on frozen shrimp and tra fish, illegal, the fight against unreported and unregulated (IUU) fishing to the "yellow card" warning of the European Union, more regular quarantine inspections, distorted information, and competition pressures, overseas shipment of Vietnamese aquaculture exports fetched US$ 8.3 billion, representing a year-on-year surge of 18.7%.

The Viet Nam Association of Seafood Exporters and Producers (VASEP) attributed the good outcome to the robust growth of key exports especially shrimp which grew 21% and earned US$ 3.8 billion in export turnover or up 46% of the total. 

Out of 167 export markets, almost all markets witnessed impressive figures. Especially, the EU market picked up 21%, leaving the U.S. behind to become the biggest importer of Vietnamese aquaculture. In China, Vietnamese aquaculture export ranked fourth but expanded at the fastest pace of nearly 49%.  

The overseas shipment of tra fish to Brazil, Mexico, and China surged sharply to US$ 1.8 billion, representing a year-on-year growth of 4%. 

Minister of Agriculture and Rural Development Nguyen Xuan Cuong said that in 2018, Viet Nam targets to earn US$ 8.5 billion in export turnover. However, in the very first days of January, export turnover may fetch over US$ 500 million. Thanks to favorable consumption markets, robust development of cultivation, catches, and processing, aquaculture export was forecast to set a new record in 2018./.

By Kim Loan