Vietnam targets US$2bil in its famous Tra fish exports in 2024

HO CHI MINH CITY (Bernama-VNA): Vietnam looks to take in high earnings in its commercial fishing industry as the nation aims to produce 1.7 million tonnes of tra fish and earn up to US$2 billion from product exports this year, Vietnam News Agency reported.

According to its Deputy Minister of Agriculture and Rural Development Phung Duc Tien, the fishery sector needs to be ready with plans to better respond to the increasingly competitive market, and stricter regulations and technical barriers of importing countries.

Last year Vietnam’s tra fish exports faced difficulties and consumption demand from markets decreased, especially in the European and Chinese markets, however this year (2024) there will be many positive signs for the tra fish industry, said Tien.

Communications Director of the Vietnam Association of Seafood Exporters and Producers (VASEP), Le Hang, said that despite a decrease in market share in certain markets, the export of tra fish is showing more positive signs in some markets such as China, Mexico, Canada, Brazil, and the United Kingdom (UK).

Hang said there is a great demand for Vietnamese tra fish in many markets in the coming time, especially for deeply-processed products.

He said the import demand for Vietnamese tra fish from China and Hong Kong remained stable from June to November last year.

He added China is showing its willingness to expand the import of aquatic products from Vietnam, including tra fish.

Meanwhile, the United States has been among the top markets consuming the most Vietnamese tra fish products.

The demand for tra fish products has also recorded a resurgence in the European Union (EU) market which is hoped to be a bright spot for Vietnam’s exports next year when it has a more stable economy.

As one of the traditional import markets for Vietnamese tra fish, China is expected to witness a high growth in tra fish imports in 2024.

In recent years, the market has consistently ranked among the top three largest importers of tra fish products, following the US and Japan.

(Source: https://www.thestar.com.my/)