Viet Nam targets its seafood export value at US $ 8.5 billion in 2018 (25-01-2018)

According to the Ministry of Agriculture and Rural Development, Viet Nam’s seafood export in 2017 was estimated at US $ 8.32 billion, an increase of 18 per cent compared to the same period last year.
Viet Nam targets its seafood export value at US $ 8.5 billion in 2018

Seafood exports in 2017

The U.S, Japan, China and South Korea were the 4 leading importers of Vietnamese seafood which accounted for 55.3 per cent of Viet Nam’s total fish and cephalopod exports value.

China registered a strongest growth rate of 64.4 per cent which was followed by Holland, up 48.6 per cent, U.K, up 36.4 per cent, South Korea, up 29.1 per cent, Canada and Japan up 22.3 per cent and 20 per cent, respectively.

Shrimp export value fetched US $ 3.8 billion, contributing the largest proportion of 21 per cent to Viet Nam’s total seafood export value. The reason was attributable to an increase in shrimp export price and its quality. Shrimp export to China gained US $ 677 million, increasing by 60 per cent in terms of value. This made China become the 3rd largest importer of Vietnamese shrimp, after Japan and U.S.

Meanwhile, tra fish export value reached US $ 1.8 billion, up 4 per cent. China was the main market with export value to this market reaching US $ 420 million, up 37 per cent compared to the same period last year.

Also, export of tuna products increased by 16 per cent to US $ 600 million while that of squid and octopus up 42 per cent to the same value.

Towards US $ 8.5 billion in seafood export

In 2018 Viet Nam’s seafood export value is expected to reach US $ 8.5 billion, an increase of 1.2 per cent compared to the same period last year.

According to the Directorate of Fisheries, in 2018 fisheries sector targets its seafood export value at US $ 8.5 billion, increasing by 1.2 per cent compared to 2017. At the same time, fisheries production is targeted at 7 million tons, reducing by 3.8 per cent compared to the previous year. Of which, fishing production would reach 3 million tons, dropping by 13.3 per cent and aquaculture production would gain 4 million tons, increasing by 3.7 per cent compared to 2017.

In addition, fisheries sector targets its blackish water shrimp production at 720 thousand tons, increasing by 13.1 per cent and tra fish yield at 1.3 million tons, up 4 per cent year on year.

Solutions for 2018

To achieve these targets, fisheries sector has come up with many solutions.

Firstly, it will continue monitoring weather changes so as to inform and guide timely farmers about technical solutions in farming. Additionally, it will maintain black tiger shrimp production and farming areas to take fully advantages of shrimp farming in ecologically shrimp farming regions such as shrimp – mangrove and shrimp – rice. As a result, it could help Vietnamese shrimp exporters gain a competitive advantage on the world market.

Secondly, fisheries sector will push value chain linking production models, especially developing a scheme on value chain linking in production and consumption of main products. Also, it will develop VietGAP models in association with new rural, re-organizing production which links production with consumption in order to supply market with safe products.

Regarding fishing production, it will guide fishermen to re-organize production under fishing team to enable them more attach to fishing at sea. Also, linking chain which links fishing, fish collecting to fishery logistics at sea would be paid more attention to.

  At the same time, it will build a full procedure of certification for fishing products before exporting. Also, it will implement some tasks on capture fisheries management such as traceability certification for fishing products, fishing logbook, fishing reports, connecting information among fishing ports, etc.

Meanwhile, fisheries sector will continue co-operate with coastal provinces to push propaganda activities on responsible fishing to fishermen.

In 2017 Viet Nam’s fisheries export value gained US $ 8.32 billion, increasing by 18 per cent compared to the same period last year and exceeding 16.9 per cent compared to the year’s plan. Total fisheries production reached 7.1 million tons, up 5.5 per cent year on year. Of which, aquaculture production reached 3.75 million tons and fishing yield gained 3.3 million tons.

According to seafood supply and demand circle, coupled with the plan of pushing shrimp producing and exporting towards US $ 10 billion by 2025, it is forecast that seafood export volume would increase. Besides, due to the increase in competition with other countries and a slight decline in seafood export price, Viet Nam’s seafood export value is forecast to increase slightly of 4 per cent to roughly US $ 8.5 – 8.6 billion.

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