Seafood exports expected to reach $8.8 billion in 2021

Vietnam seafood, seafood, export, Vietnam News, Politics, Business, Economy, Society, Life, Sports, Environment, Your Say, English Through the News, Magazine, vietnam war, current news, Vietnamese to english, tin viet nam, latest news today, english newspapers, the vietnam war, news latest, today news headlines, nation news paper, today breaking news, vietnamese culture, vietnam history, bao vietnam, vietnam economy, today headlines, national news headlines, vietnam war summary, vietnam culture, vietnam government, news headline, daily nation today, daily nation newspaper headlines, newspaper headlines today, news website, báo online, headlines news, news site, war in vietnam, tin vietnam, vietnam people, vietnam today, vietnamese news, tin viet nam net, viet to english, news headlines for today, news paper online, national news in english, current news headlines, vietnam war history, english news papers, top news headlines, today hot news, english news headlines, vietnam conflict, up to the minute news, english daily, viet news, news highlights, viet news, today international news, govt news, the vietnam war summary, vietnam exports, việt nam, bao vn net,, baovietnam, thongtanxavietnam, vietnam plus, vietnam news agency, Vietnam seafood, seafood, export
Workers of Minh Phú Hậu Giang Seafood JSC, a member of Minh Phú Seafood Corporation, at Hậu Giang Industrial Zone in the southern province of Hậu Giang prepare goods for export. — VNA/VNS Photo Vũ Sinh

HÀ NỘI — The Việt Nam Association of Seafood Exporters and Producers (VASEP) has forecast that seafood exports will hit US$8.8 billion this year, a year-on-year increase of 5 per cent.

The association said the COVID-19 pandemic has disrupted global trade in seafood, changing consumption trends for aquatic products.

However, the main importers of Vietnamese seafood such as the EU, China, South Korea, and Japan only slightly decreased their imports from Việt Nam by 3 to 6 per cent, while the largest market, the US, still increased significantly at 10 per cent.

Other markets like Russia, the UK, Australia, and Canada even hiked by 10-32 per cent.

Vietnamese seafood exports fell sharply by 10 per cent and 7 per cent in the first quarter and second quarter of last year respectively, but from the third quarter began to recover.

The country's seafood output was estimated at 8.4 million tonnes by the end of last year, a slight increase of 3 per cent compared to 2019.

Seafood exports hit $8.4 billion, down 1.9 per cent year-on-year.

Entering the new year, VASEP believed the fisheries trade situation was still strongly affected by the pandemic, even though this was still the main factor that dominated seafood exports and imports in Việt Nam.

However, Việt Nam was still able to maintain a competitive advantage in raw material supply compared to other countries. In addition, free trade agreements would continue to be a lever for its seafood exports to recover in some markets, said VASEP.

Enterprises would also have more experience and flexibility to adapt to fluctuations and changes in the needs and tastes of the market after a year of the pandemic, it added.

On the stock market, seafood exporting enterprises had a tough year due to the pandemic.

Cửu Long Fish Joint Stock Company was one such impacted seafood enterprise, with revenue and profit last year decreasing by 49 per cent and 80 per cent respectively compared to 2019.

Similarly, other businesses in the same industry as Vĩnh Hoàn JSC's profit fell from VNĐ1.18 trillion in 2019 to VNĐ704 billion last year.

Ngô Quyền Processing Export JSC faced accumulated losses of up to VNĐ31 billion due to interrupted transactions with customers and no export orders. — VNS

News Related


ARB Berhad upbeat about its FY2021 prospects, driven by its cloud-based solutions

Lowest valuation among the peers. Net cash company with strong growth momentum. To offer cloud-based solutions for business sustainability and recurring income Read more »

Opening of Konica Minolta’s Newest Customer Engagement Center in APAC

The state-of-the-art facility showcases Konica Minolta’s unique print technologies in one central location, supporting the needs of customers in the Asia Pacific region. Read more »

Kyoto University will hold an online showcase event to deliver state-of-art innovations of startups rooted from premier Japanese academic institutes to U.S. investors and venture capitals

KYOTO, JAPAN - Media OutReach - 24 February 2021 - Kyoto University, one of the highest research and educational institutes of Japan, has successfully achieved breakthrough innovations in science and technology. Read more »

Taste the World with 7-Eleven’s Latest Additions to its Very Own 7-SELECT Ready-to-Eat Range. First Stop, Southeast Asia!

Launching island-wide on 3 March - you’ll be spoilt for choice as we introduce our exclusive Southeast Asian inspired noodle dishes and many more quick and easy meals that’ll hit the spot. Read more »

Only from VND 480 million owns luxury apartments more than 108m2 center of Hanoi

Only VND 480 million can buy a high-class apartment in the center of Cau Giay - My Dinh district with a breakthrough sales policy in July 2020 at Sunshine Center 16 Pham Hung... Read more »

The price of real estate in Ho Chi Minh City soars ever higher

In early 2020, Ho Chi Minh City real estate price set a new price level, the center apartment price of District 1 is up to VND 500 million/m2, the central area of ​​District... Read more »

LESSO, China’s Leading Plastic Piping Brand Expands its Market to Southeast Asia

SAMARANG, INDONESIA - Media OutReach - 24 February 2021 - LESSO, China's leading brand in plastic piping industry, has set foot in Southeast Asia market for further business expansion. Read more »

Qantas posts huge loss, says no international flights until October

Australian carrier Qantas reported on Thursday a US$5.5 billion plunge in revenue during the second half of 2020 and said international passenger flights would not resume until October as the pandemic continued to... Read more »

PrimaDollar to focus on supply chain trade finance and larger clients, MODIFI acquires its SME export trade finance business

MUMBAI, INDIA & AMSTERDAM, THE NETHERLANDS - Media OutReach - 24 February 2021 - PrimaDollar has made the strategic decision to focus on its category-leading supply chain trade finance platform. This is an... Read more »

Hunter Fan Company Debuts Industrial Fan Line for Malaysia

NASHVILLE, TENNESSEE - Media OutReach - 24 February 2021 - Hunter Industrial Fans - the industrial division of Hunter Fan Company - launched its international fan line known as "DDI." The DDI is... Read more »