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Monday, July 22, 2024

Tra fish exports surge in Q1

The Saigon Times

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HCMC – Vietnam’s tra fish exports amounted to US$646 million in the first quarter of this year, surging 88% year-on-year and accounting for 27% of the country’s total seafood exports, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).

In March alone, the tra fish export revenue hit US$261 million, jumping a staggering 80% over the same period last year.

In the first three months of the year, tra fish exports to major markets gained two- to three-digit growth. The trend is forecast to continue this quarter as demand is running high, Tien Phong newspaper reported.

Vietnam exported tra fish worth US$97.5 million to China in March, soaring 119%. The total revenue last quarter was US$183.4 million, a 163% uptick.

The prospect for tra fish exports to the United States is also bright as Vietnamese tra fish shipments no longer face the anti-dumping tax.

Last quarter saw tra fish exports to America soared 123% to US$160 million. At present, inflation is rising in the United States due to supply chain disruptions and the impact of the Russia-Ukraine conflict, so the prices of products, and the demand for necessities, especially food and seafood, have been increasing sharply, creating more opportunities for Vietnamese tra fish exporters.

Europe has been facing the same fate with goods’ prices jumping. Vietnam’s tra fish exports to the European Union picked up 86.2% in the first quarter to reach US$46.7 million. The growth was 86% in the Netherlands, 97% in Germany, 120% in Belgium and 67% in Spain.

According to VASEP, the growth of Vietnam’s tra fish exports to large markets will be maintained.

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