Decline in shrimp exports, increase in fish tra | Company

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Illustrative image (Photo: SGGP)

From US$456 million in May, shrimp fetched only US$365 million in August.

In the first eight months of this year, shrimp exports reached $3 billion, up 22.5% year-on-year.

Deputy Director of VASEP’s Training and Trade Promotion Center, Le Hang, attributed the drop in shrimp exports to rising input costs and unfavorable weather conditions, while market demand stagnated due to the slump. increase in inventory. Due to inflation, exports to the United States and China have fallen since July.

In the United States, Vietnamese shrimp represent almost 10% of the market share, while India and Indonesia represent approximately 20% each, and Ecuador alone 40% thanks to its proximity to the United States. States, resulting in lower transportation costs.

Meanwhile, tra fish exports soared 114 percent a year to $187 million in August. Its shipments maintained 2-3 digit growth.

On an eight-month calculation, trafish fetched some $1.8 billion, up 81% year-on-year.

Hang said that apart from the US and the EU, member states of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) are bright spots for Vietnam’s tra fish export.

In the first seven months of this year, they consumed more than 13% of Vietnam’s total tra fish shipments, equivalent to $211.4 million, up 73% from the same period l last year.

It expects the export of fish to maintain its growth by the end of the year.

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