Vietnam Targets US$2 Billion in Tra Fish Exports Amid Positive Market Signs

by Fishery News

Ho Chi Minh City: Vietnam is setting its sights on achieving high earnings in its commercial fishing sector, aiming to produce 1.7 million tonnes of tra fish and generate up to US$2 billion from exports in the current year, according to a report by Vietnam News Agency.

Deputy Minister of Agriculture and Rural Development, Phung Duc Tien, emphasized the need for the fishery sector to be well-prepared with plans to navigate the increasingly competitive market landscape and address the stricter regulations and technical barriers imposed by importing countries.

Despite facing challenges in 2023, including decreased consumption demand in European and Chinese markets, this year is anticipated to bring positive signs for Vietnam’s tra fish industry, stated Tien.

Le Hang, Communications Director of the Vietnam Association of Seafood Exporters and Producers (VASEP), highlighted that while there was a reduction in market share in certain areas, the export of tra fish is showing positive trends in markets such as China, Mexico, Canada, Brazil, and the United Kingdom (UK).

Hang noted a growing demand for Vietnamese tra fish in various markets, particularly for deeply-processed products. China, a stable importer of Vietnamese tra fish, has expressed a willingness to expand aquatic product imports from Vietnam. The United States remains a key market for Vietnamese tra fish products.

The European Union (EU) market, traditionally significant for Vietnamese tra fish, is witnessing a resurgence in demand, providing a potential bright spot for exports in the coming year. China is expected to experience high growth in tra fish imports in 2024.

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