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Tuesday, June 25, 2024

Aqua-product exports plunge 31% in January

The Saigon Times

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HCMC – Vietnam’s aqua-product exports dropped sharply in January, fetching only US$600 million, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).

The first month this year saw a plunge of 31% in aqua-product export value year-on-year due to the week-long Lunar New Year holiday at the end of the month.

The export values of several major products declined in January, such as that of tra fish plunging 50%, shrimp falling 46% and tuna tumbling 32%.

Vietnam’s aqua-product exports to key markets such as the U.S., China and the EU plummeted by 35%-56% in the first month of the year.

Despite high export values in the first three quarters of last year, Vietnam’s aqua-product exports have reversed course since the 4th quarter due to inflation in many international markets.

China’s reopening policy and high economic development of the Asian and Middle East markets are expected to improve the country’s aqua-product export values from the second quarter of this year.

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