Fish exports expected to recover from late Q3
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The Ministry of Agriculture and Rural Development (MARD) forecast that aquatic product exports will bounce back at the end of the third quarter and reach the yearly revenue target of $10 billion.
It reported that in the first six months of this year, the export value of aquatic products hit nearly $4.2 billion, down over 27% year-on-year.
To achieve the yearly target, many businesses have diversified products, focused on intensive processing, and invested in value chains.
Meanwhile, the MARD and localities will further provide fishermen with market information and guide them to implement solutions to deal with the European Commission (EC)’s “yellow card” warning against Vietnamese seafood, and step up inspections and handling of cases of illegal, unreported and unregulated (IUU) fishing, towards a sustainable fishery sector.
Competent agencies will also work to remove obstacles relating to the Chinese and US markets, diversify export markets, and coordinate with banks to support businesses.
Questions & Answers
Q.What is the expected export value for aquatic products by the end of the year?
What is the expected export value for aquatic products by the end of the year?
The Ministry of Agriculture and Rural Development (MARD) forecasts that aquatic product exports will reach the yearly revenue target of $10 billion. This recovery is expected to happen by the end of the third quarter.
Q.How much did aquatic product exports decline in the first half of this year compared to last year?
How much did aquatic product exports decline in the first half of this year compared to last year?
In the first six months of this year, the export value of aquatic products was nearly $4.2 billion. This figure represents a decline of over 27% year-on-year compared to the same period last year.
Q.What steps are businesses taking to help meet the yearly export target?
What steps are businesses taking to help meet the yearly export target?
Many businesses are diversifying their products and focusing on intensive processing. They are also investing in value chains to improve their offerings and achieve the ambitious yearly revenue target.
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