Vietnam's aquatic product exports saw a strong start to the year, recording a 60.8 percent annual increase to reach US$730 million in January, reported the Ministry of Agriculture and Rural Development.
Tra fish emerged as the star performer, showcasing a remarkable 97 percent year-on-year growth, with export revenue hitting US$165 million.
Communication Director of the Vietnam Association of Seafood Exporters and Producers (VASEP) Le Hang anticipated a moderate 10 percent rise in tra fish exports this year, potentially reaching US$2 billion, with China and the US being major importers.
To achieve this projected growth, VASEP Secretary General Truong Dinh Hoe emphasised the importance of diversification. He encouraged the Vietnamese firms to explore new markets and develop innovative consumer products beyond just frozen fillets.
While Vietnam faces a slight decline in market share within some major markets, smaller destinations like Mexico, Canada, Brazil, and the UK offer promising growth opportunities, he added.
According to the International Trade Center (ITC), Vietnam remains the leading supplier of whitefish to Brazil, creating a solid foundation to expand the export of more value-added products in this market.
VASEP also identified Germany as another lucrative market for Vietnamese tra fish. Last year, Germany imported US$38 million worth of Vietnamese tra fish, representing a 31 percent rise from the previous year. Notably, frozen fillets dominated these imports, accounting for nearly US$37 million and up 34 percent year on year.
Vietnam is now the sixth largest supplier of whitefish to Germany, behind China, Russia, Norway, the US and Poland, indicating room for further expansion if the Vietnamese exporters could deliver clean products that cater to German preferences at competitive prices.
Source: Vietnamplus
Keyword: VASEP, market, export revenue
