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| Transporting tuna at Tam Quan fishing port, Hoai Nhon town, Binh Dinh province.__Photo: VNA |
Monthly aquatic exports have exceeded USD 1 billion again in October after more than two years, signaling a rosy future for the industry, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).
The association reported that export value of aquatic products last month saw a rise of 28 percent year on year, bringing the total in the first 10 months of this year to USD 8.27 billion, up 11.4 percent year on year.
VASEP PR Director Le Hang said that amid a strong rebound in demand for seafood imports in key markets, Vietnamese aquatic exports recorded impressive growth in October.
Particularly, exports to China and Hong Kong (China) surged 37 percent. Strong growth was seen in other markets such as the US at 31 percent, Japan 22 percent, the EU 27 percent, and the Republic of Korea 13percent.
As of the end of October, the total value of seafood exports to China and the US hit USD 1.5 billion.
The VASEP representative pointed out that although the European economy is recovering more slowly compared to those of the US and China, positive signs from seafood consumption and import prices are gradually growing, opening up bright prospects ahead for Vietnamese businesses.
Exports to the EU from January to October increased by 11 percent compared to the same period last year, she added.
In contrast, those to Japan and the RoK achieved only modest growth of 1.5 percent to 2 percent due to such factors as prolonged inflation.
In the Jan-Oct period, exports of shrimps topped USD 3.2 billion, up 13 percent, while that of tra fish edged up by 10 percent to nearly USD 1.7 billion. The products recorded strong growth in exports in October at 26 percent and 24 percent, respectively.
Hang said that Vietnamese shrimp is enjoying great advantages in the US market as the US Department of Commerce recently announced preliminary countervailing duties on shrimp imported from Ecuador, India, and Vietnam. Accordingly, duty rates for Vietnamese shrimp stood at 2.84 percent, significantly lower than the 4.36 percent for India and 7.55 percent for Ecuador.
Meanwhile, crab and other crustacean exports fetched USD 267 million and USD 173 million, marking respective rises of 66 percent and 58 percent over the same time in 2023.
At the same time, in a good scenario, tuna exports may meet this year’s target of USD 1 billion like in 2022.- (VNA/VLLF)
