Tra fish export expected to bring home USD 600 million in Q1

Vietnam expects to earn USD 600 million from tra fish export in the first quarter of the year, a year-on-year jump of 35 percent.

Of the figure, exports to the US are estimated at USD 95 million (up 26 percent), China at USD 125 million (up 23.7 percent) and the EU at USD 67 million (up 21 percent).

Experts have forecast bright prospects for tra fish exports this year based on robust market signs.

Last year, tra fish shipments brought home a record of USD 2.26 billion and the figure is hoped to rise to USD 2.3 - 2.4 billion for 2019.

According to the Vietnam Association of Seafood Exporters and Producers (VASEP), the Food Safety and Inspection Service (FSIS) of the US Department of Agriculture has proposed that Vietnam, along with Thailand and China, has a catfish inspection system equivalent to those in the US, and thus eligible for exporting the fish to the US. If approved by the US government, the recognition will facilitate Vietnam's export of tra fish to the market, and will also have positive impacts on other markets like the EU and China.

Meanwhile, China's tilapia shipments to the US have suffered a lot from the escalating US-China trade, and this is a good opportunity for Vietnamese exporters to boost shipments of tra fish.

At the same time, demand for tra fish in China remains high, from low-end to high-end segments.

In Europe, the market for Vietnamese tra fish is making good recovery, particularly in western and southern Europe..

As local exporters target to maintain high export price rather than increase export volume, they will pay due attention to develop high-quality products, meeting requirements of fastidious markets.

Source: People's Army Newspaper