Tuna export value is forecast to reach US$1 billion in 2024, marking an 18 per cent increase compared to last year’s figure and solidifying the product''s role as one of Việt Nam’s key seafood exports.
Demand for pangasius has slumped in export markets compared to that of cod or pollock, and the situation is likely to persist, the Vietnam Association of Seafood Exporters and Producers has said.
Businesses, farmers, and management authorities need to develop rational strategies in response to market changes to breakthroughs and achieve the set export revenue target of US$4-4.3 billion for the year, experts have said.
Seafood exports in the first half of the year were worth US$4.4 billion, up nearly 7 per cent year-on-year, according to the Việt Nam Association of Seafood Exporters and Producers (VASEP).
Vietnamese seafood products are increasingly being exported to Singapore through various promotional activities and participation in bilateral trade promotion programmes.
Delegates at a general meeting of the Việt Nam Association of Seafood Exporters and Producers in HCM City on June 10 discussed measures to enable the seafood industry to achieve its export target of US$10 billion this year.
For key shrimp products alone, 34-48 per cent of Vietnamese shrimp output imported into South Korea is subject to an out-of-quota tax of 20 per cent in the 2016-2023 period.
Seafood exports were worth nearly US$2 billion in the first quarter, 8 per cent up year-on-year, according to the Việt Nam Association of Seafood Exporters and Producers (VASEP).
VASEP''s calling came amid proposed amendments to tax laws, which could potentially see export services subjected to a 10 per cent value-added tax has been put forward.
But positive signals have been seen in the early months of 2024, with a 64 per cent increase in demand compared to the same period in 2023, reaching $750 million.