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Seafood export in the first 5 months of 2019 decreased slightly


(8/13/2019 12:00:00 AM)

Ministry of Industry and Trade informed that in the first 5 months of 2019, seafood export decreased by 1.82% in volume and 1% in value compared to the same period in 2018, reaching 748.2 thousand tons, worth US$ 3.173 billion.

Specifically, the Ministry of Industry and Trade estimates that in May 2019, seafood export will reach 176 thousand tons, worth US$ 750 million, down 0.33% in volume and 1.64% in value over the same period in 2018. In general, in the first 5 months of 2019, seafood export decreased by 1.82% in volume and 1% in value compared to the same period in 2018, reaching 748.2 thousand tons, worth US$ 3.173 billion.

It is forecasted that in the coming time, exporting tra fish to big markets like the US, Japan, ASEAN, etc. will increase, while exporting to the Chinese market will be difficult. The US increase tariffs on imported seafood from China will have a big impact on China's seafood exports. Therefore, Chinese seafood products will turn to serve the domestic market, especially tilapia. This may impact the demand for Chinese tra fish imports.

In addition, China has approved for 33 Vietnamese seafood products to be exempted from taxes when exported to China via Ha Khau border gate, which includes many key seafood products of Vietnam. However, this market is tightening requirements about the quality and origin of products. China has invested in the construction and upgrading of large-scale quality testing and quarantine rooms in border areas with modern equipment, capable of being inferior to the facilities of the developed countries such as the United States, Japan, EU, etc.

Under the plan, from October 1, 2019, shipments of food imported into China must be attached with Health Certificate. Therefore, businesses need to pay attention to the mode of production and export. Specifically, attention should be paid to the new requirements for quality, traceability as well as regulations and standards on packaging, labeling and bar codes for sustainable export as well as improvement of value added of products.

For shrimp products, exports will continue to face difficulties due to intense competition in the market and prices are forecasted to continue to be low. Since the beginning of 2019, the weather condition has been quite favorable, the supply of shrimp from large shrimp-producing countries such as India, Ecuador, and Indonesia has increased compared to the same period in 2018. From June 2019, supply of shrimp to the global market will increase sharply due to large producing countries go into the harvest season such as Vietnam, Thailand, China. Therefore, shrimp prices are expected to continue to be low.


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