Viet Nam's tra fish export value dropped 39 per cent to US$456 million in the first five months of this year. — Photo vov.vn

The Ministry of Agriculture and Rural Development opened an event in Ha Noi on Tuesday to promote the domestic consumption of tra fish products.

Addressing the event, Minister of Agriculture and Rural Development Nguyen Xuan Cuong said aside from expanding export markets, local enterprises also need to pay attention to the domestic market so as to boost production and ensure more stable prices for tra fish products.

Cuong explained that a strong domestic market would help ease the pressure on exports, raise export prices, and stimulate production. Local consumers will also have more options to choose from.

The COVID-19 pandemic has pushed production, business and export activities of many sectors, including the tra fish industry, into stagnation.

In the first five months of this year, the tra fish output was estimated at 462,000 tonnes, down 6.3 per cent year on year. Meanwhile, tra fish export value dropped 39 per cent to US$456 million, with shipments to China down 48 per cent, the EU down 47 per cent and the US down nearly 20 per cent.

The sudden nosedive in exports has exposed businesses to numerous difficulties when a large volume of tra fish remains in warehouses due to export disruption and orders cancelled. Meanwhile, it is forecast that this industry will have to wait until the third quarter of this year to fully recover.

Given this, to address current hardships, it is necessary to concurrently develop the domestic market and boost overseas shipments.

The tra fish sector targets 1.42 million tonnes in output and about $2 billion in export value this year.

After more than 20 years of development, the tra fish sector has reaped encouraging outcomes with 6,000ha of farming areas. Vietnamese tra fish has been shipped to 119 markets around the world. — VNS