US is largest market for Vietnamese shark catfish

Tuesday, 2019-01-15 11:38:16
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Vietnam's shark catfish exports hit US$2.26 billion in 2018.
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NDO - The United States accounts for 91% of Vietnamese shark catfish exports, followed by China at 9%, according to the Ministry of Agriculture and Rural Development.

Last year, shark catfish exports brought in US$2.26 billion, up 26.4% against the previous year, thanks to higher prices as a result of greater investment in processing.

The Vietnam Association of Seafood Exporters and Producers (VASEP) has projected that catfish export revenues in 2019 could continue to remain high at around US$2.2 billion.

VASEP Deputy General Secretary Nguyen Hoai Nam stated that such a performance came as a result of years of efforts to build brands and improve quality.

According to many experts, the US-China trade conflict is producing a positive effect on certain Vietnamese exports, including shark catfish.

In addition, when the Vietnam-EU free trade agreement is signed, Vietnam’s shark catfish exports to the EU could also be boosted as a result of tariff elimination for both raw and processed fish.

Vietnam’s General Directorate of Fisheries is working with enterprises to further enhance the quality of catfish fillets so as to bolster exports.

However, challenges remain while Vietnamese catfish continue to face import restrictions imposed by Europe and the US.