Việt Nam''s seafood industry is riding a wave of success, with November exports reeling in an impressive US$924 million, a 17 per cent annual increase.
According to the Việt Nam Association of Seafood Exporters and Producers (VASEP), in the first eight months, the seafood export value reached nearly US$6.3 billion.
Việt Nam’s seafood exports remained heavily dependent on natural sources, which have become increasingly difficult to secure due to tightening regulations and limited local marine farming, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).
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.
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.
Viet Nam''s seafood industry enjoyed a significant increase after more than three years of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) taking place.
It is expected to reach $10 billion by the end of November, a record milestone for Viet Nam''s seafood industry after more than 20 years of participating in the world market. By the year''s end, it is forecast to reach...
Viet Nam’s seafood exports to the UK are expected to pick up in the remaining months of this year with the full-year revenues projected to increase by 5 per cent over last year.
After being affected by the COVID-19 epidemic and fluctuations in inflation, the demand and trends of seafood consumption in many markets have changed, necessitating that Vietnamese seafood enterprises must adapt to these market trends.
Viet Nam’s seafood export turnover is expected to reach US$8.3 billion this year, posting an 18 per cent increase over 2016, according to the Viet Nam Association of Seafood Exporters and Producers (VASEP).
The European Union is ready to support Viet Nam’s seafood industry, but it has to review its fisheries management and address its shortcomings, the First Counselor of the EU Delegation to Viet Nam, Miriam Garcia Ferrer, told a meeting in...