Vietnam seafood exports reach US$9.7 billion by October 15
The industry is pursuing a record US$12 billion for the year, while facing price competition, traceability requirements and compliance costs.
Vietnam’s seafood exports totalled US$9.7 billion by October 15, according to Ministry of Agriculture and Environment data, as exporters looked to year-end festival demand to support further sales.
Shrimp exports were worth US$3.75 billion, an increase of 11 per cent from a year earlier, the Vietnam Association of Seafood Exporters and Producers (VASEP) said. Shrimp represented 41 per cent of seafood export value.
VASEP market expert Phung Thi Kim Thu said China and some markets covered by the Comprehensive and Progressive Agreement for Trans-Pacific Partnership supported growth. However, the pace eased in September as shrimp shipments to the US declined. Tariffs, competition and raw material constraints remain risks.
Tra fish exports reached about US$214 million in September, rising 18.6 per cent, while nine-month shipments increased 10.7 per cent to US$1.74 billion. VASEP Deputy Secretary General Le Hang said reduced availability of some whitefish species was creating opportunities for Vietnam.
Seafood production reached 7.89 million tonnes in January-September, up 3.9 per cent annually, the ministry said. Aquaculture contributed 4.86 million tonnes. Tran Gia Long, deputy director of the ministry’s Planning-Finance Department, said seafood exports needed to generate about US$1 billion monthly in the final months to help meet and exceed the annual US$74 billion agro-forestry and fisheries export target.
