Tag: seafood industry

While China and Hong Kong (China)experienced robust growth with a 64.9% increase, the US and EU markets faced declines of 16.0% and 17.6%, respectively.

Vietnam earned just $1 billion from seafood exports to its northern neighbor in the first nine months of 2023, down 18 per cent year-on-year.

Export volumes and seafood prices have continued to decline.

Yearly figure for 2022 expected to come in at $1.03 billion.

According to the Directorate of Fisheries, the orientation in the fisheries industry is to reduce the catch and increase the output of marine aquaculture. To meet the target of seafood export turnover reaching $14-16 billion by 2030, it is necessary to introduce a major change in management along with preferential policies that are strong enough to support a large-scale aquaculture industry.

The seafood industry has two key stages - farming and processing - which have become congested from environmental regulations, Mr. Nguyen Hoai Nam, Deputy General Secretary of the Vietnam Association of Seafood Exporters and Producers (VASEP), told a meeting between the Ministry of Agriculture and Rural Development and seafood industry associations on September 21. In order for marginal productivity to not decline, the seafood sector must be of large scale and capacity, with many reputable brands, and be deeply involved in global supply chains.

The Vietnam Association of Seafood Exporters and Producers (VASEP) said the seafood industry reached sales and growth milestones in the first half of 2022. The industry earned $5.7 billion, up nearly 40 per cent year-on-year.