Shrimp export falling, tra fish up

Vietnam’s shrimp export is on downward trend in August.

From 456 million USD in May, shrimp brought home only 365 million USD in August.

In the first eight months of this year, shrimp export hit 3 billion USD, up 22.5% year-on-year.

Deputy Director of the VASEP’s Training and Trade Promotion Center Le Hang attributed the falling shrimp export to rising input costs and unfavorable weather conditions while the market demand stalled due to increasing inventories. Because of inflation, exports to the U.S. and China have fallen since July.

In the U.S., Vietnamese shrimps account for nearly 10% of market share while India and Indonesia make up around 20% each, and Ecuador alone 40% thanks to its proximity to the U.S. which results in cheaper transport costs.

Tra fish export soars by 114% annually to 187 million USD in August. (Photo: congthuong.vn)

Meanwhile, tra fish export soared by 114% annually to 187 million USD in August. Its shipments maintained 2-3 digit growth.

On an eight-month calculation, tra fish raked in some 1.8 billion USD, up 81% year-on-year.

Hang said apart from the U.S. and the E.U., member states of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) are bright spots for Vietnam’s tra fish export.

In the first seven months of this year, they consumed over 13% of Vietnam’s total tra fish shipments, equivalent to 211.4 million USD, up 73% from the same period last year.

She forecast that the export of the fish will maintain its growth between now and the year’s end.

Source: VNA