Vietnam’s tra fish exports exceed US$2 billion for first time

Tuesday, 2018-12-18 15:41:56
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Vietnam’s tra fish export value has exceeded US$2 billion for the first time, with the figure hitting US$2.05 billion in the first 11 months. (Photo: VNA)
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NDO/VNA – Vietnam’s tra fish (pangasius) export value has exceeded US$2 billion for the first time, with the figure hitting US$2.05 billion in the first 11 months of this year, a year-on-year increase of 27.4%, according to the General Department of Customs.

Duong Nghia Quoc, chairman of the Vietnam Pangasius Association, said the total export value of tra fish this year is expected to reach a record high at about US$2.2 billion.

In October and November, the consumption of tra fish in the US increased about 40% due to a reduction in anti-dumping duties on Vietnamese tra fish, while tra fish demand recovered in the EU and China maintained good consumption.

To meet demand, Mekong Delta provinces should maintain tra fish output of 1.3-1.5 million tonnes per year, Quoc said. They should focus on improving the quality of fish farming and processing more value added products.

Truong Dinh Hoe, general secretary of the Vietnam Association of Seafood Exporters and Producers (VASEP), said the two main reasons for the growth in tra fish export value in the first 11 months this year included price and added-value products.

This year, tra fish output has not met high demand on the local market, driving the price of raw material for tra fish production and the export price up. This contributed significantly to the value of catfish exports from the beginning of the year, Hoe said.

Hoe said 2019 is expected to be a good year for producers, processors and exporters of tra fish as the export market has stable demand and standards.