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).
To further increase the value of shrimp and to have sustainable shrimp industry development, localities, especially Mekong Delta provinces, need to pay attention to developing high-quality seed sources to have proactive production, reduce production cost and limit diseases.
Given global economic difficulties and high interest rates, consumers will not be really strong in their spending decisions, and global seafood consumption demand is unlikely to increase sharply, according to VASEP.
Exports of surimi (fish paste) and fishmeal could reach US$1 billion a year in the near future, according to the Việt Nam Association of Seafood Exporters and Producers (VASEP).
According to the Việt Nam Association of Seafood Exporters and Producers (VASEP), exports in November 2023 increased by 6 per cent compared to November 2022, reaching nearly US$840 million.
Vasep said that lobster was being exported to China mainly via unofficial channels, which posed many risks, including price fluctuations and changes in import policies.
Shrimp prices in the world market have gradually decreased since the end of 2022. For instance, at the end of February 2023, the price of Indian shrimp was at VND110,000 (US$4.53) per kilo.