Workers at Go Dang Joint Stock Company in the My Tho Industrial Park in Tien Giang Province process tra fish for export. — VNA/VNS Photo Vu Sinh

HA NOI (Biz Hub) — Tra fish export turnover this year would be US$1.7 billion, posting a four per cent year-on-year drop due to difficulties in imported markets and tighter regul-ations.

The Viet Nam Association of Seafoods Exporters and Producers (VASEP), quoting statistics from the General Department of Customs, said that for the four months to May 15, the total export revenue of tra fish fell 9.3 per cent from the same period last year to $544.8 million.

The statistics further revealed that the export turnover to China had surged 46 per cent, and Canada went up 12.5 per cent as against the corresponding period last year, while exports to the US increased slightly by 8.8 per cent.

However, the export value of tra fish to the EU saw a sharp decrease of 16 per cent, to Mexico of 21 per cent and Colombia of 8 per cent.

According to VASEP, in the US, the export value of tra fish represented a strong reduction of 23 per cent in January due to anti-dumping operations by the US Department of Commerce.

The rising US dollar also had importers hesitating while buying even as they requested a price reduction. The average export price of tra fish to the US in the first quarter fell 5 US cent over the same period last year.

The association said the difficulties to the Viet Nam's biggest importer, who accounted for 22 per cent of the country's total exports, was a key reason for the drastic reduction in the tra fish price.

The tra fish price saw a decrease of VND300 to VND500 a week since the end of February. By the end of May, it was between VND20,000 and VND25,000 per kilogramme – the lowest level so far this year.

In the EU, Viet Nam's second biggest importer, the export value in the first half of last month dropped 16 per cent against the same period of the previous month. The tra fish exports to the market were not expected to improve in the next few months.

VASEP said the main reason for the decrease in exports in the market was because the importers cut down on their imports. The strong drop in the value of the euro against US dollar has proved difficult for importers, it added. — VNS