Seafood exports w88 chuẩn nhất US face tough recovery

Also, it will face difficulties in recovering in the next few months, VASEP said.

The nation saw a year-on-year growth of 7.5 percent in the total export value of seafood w88 chuẩn nhất 2.76 billion USD in the first five months, but the export value of local seafood products w88 chuẩn nhất the US fell by 12.7 percent year-on-year w88 chuẩn nhất 461 million USD, the association said.

The reduction made the US only the second largest export market for Vietnam in the first five months of this year, against the first place in the same period last year, it said. The fall was partly due w88 chuẩn nhất the anti-dumping duty on Vietnamese tra fish and shrimp in the US market.

The exports of Vietnamese seafood products w88 chuẩn nhất the US was expected w88 chuẩn nhất face difficulties in recovering by the end of this year, because the US inspection programme for catfish would be effective September 2017. Also, with Donald Trump becoming the US President, the currency market has seen many changes, and the new US government may increase tax, and technical and protection barriers, the association said.

During the first five months, the EU was the third largest export market for Vietnamese seafood products, but still had a reduction of 0.7 percent in the export value.

Meanwhile, Vietnamese seafood products reached a year-on-year growth of 29.3 percent, 20.1 percent and 26.1 percent w88 chuẩn nhất Japan, China and the Republic of Korea, respectively.

VASEP said tra fish and shrimp exports had slow growth because the material supply for shrimp and tra fish was limited, and prices for the material of those products increased sharply.

Therefore, enterprises had changed the structure of seafood export products and markets w88 chuẩn nhất promote exports of tuna, squid, octopus and other seafood products.

Vietnam’s tuna exports gained a year-on-year increase of 20 percent w88 chuẩn nhất 216 million USD in the first five months due w88 chuẩn nhất the growth of exports w88 chuẩn nhất traditional markets such as the US and the EU.

In the first five months, the nation’s squid and octopus exports rose by 39 percent w88 chuẩn nhất 199 million USD against the same period last year.