VN seafood export surpass 2024 goal of $10 billion

Dec 25th at 09:44
25-12-2024 09:44:29+07:00

VN seafood export surpass 2024 goal of $10 billion

Việt Nam’s seafood export in 2024 has surpassed its target of US$10 billion despite many challenges related to the market, logistics and materials, according to the Việt Nam Association of Seafood Exporters and Producers (VASEP).

 

Export of various product groups saw good growth, such as shrimp export at around $4 billion (up 16.7 per cent), tra fish at 2 billion (up 8.9 per cent), and tuna at 1 billion (up 18 per cent).

Nguyễn Thị Thu Sắc, chairwoman of VASEP, said that for 2024 the fishery industry targeted bringing its export turnover back to $10 billion, as large markets around the world had managed to control their inflation, but the global economy was still recovering slowly.

The Russia – Ukraine conflict, the Middle East conflict and other geo-political complications around the world had an effect on global trade, she said, adding that they led to an increase in transportation costs and costs of input for farming and production, as well as a fall in demand for seafood products due to inflation.

Despite numerous challenges, Việt Nam’s fishery industry managed to reach its 2024 target.

"The country is currently the world’s third largest seafood exporter after China and Norway, which shows that the industry is heading towards the right direction with regards to sustainable development and increasing added value," she said.

"Việt Nam’s fishery industry can expect stronger growth in 2025 and upcoming years."

Phùng Đức Tiến, deputy minister of Agriculture and Rural Development, commended the efforts of businesses and farmers for contributing towards affirming the position of Vietnamese seafood in the world.

2025 would pose several challenges for the industry that would require all parties to work together to tackle. These would include dealing with the “yellow card” that the European Commission (EC) had imposed on Vietnamese seafood regarding illegal, unreported, and unregulated fishing, in addition to climate change, environmental pollution and barriers to trade.

Tiến noted that materials were now easier to source, the export markets were being expanded, and Vietnamese seafood companies were further demonstrating their capability to provide high quality products, which could help the industry continue to surpass the $10 billion export target, paving the way towards $11 billion.

The Ministry of Agriculture and Rural Development instructed associations, businesses and farmers to strictly adhere to food safety regulations, apply hi-tech and pursue green, low-emission production to satisfy the requirements of business partners.

Businesses and the association should also focus on expanding their traditional markets such as China, the US, Japan and the EU, while exploring new potential markets like Halal and Africa. 

bizhub



NEWS SAME CATEGORY

Hanoi to attract US$768 million in industrial parks in 2024

Companies in Hanoi highlighted the significant improvements in the business environment in Vietnam, particularly in the capital, where it has become easier to...

Industry and trade sector urged to accelerate to meet high targets in 2025

Next year Việt Nam needs to confidently enter a new era, and the industry and trade sector must be pioneers to realise those goals, said Deputy Prime Minister and...

Nghe An boasts workforce potential for industrial growth

As Vietnam's economic landscape evolves, Nghe An province stands out as an emerging industrial hotspot, backed by a robust labour market and unique geographic and...

Livestock sector may struggle to conquer $1.5 billion next year

Delays in resolving issues of the livestock sector, including limited access to international markets and lack of large-scale processing facilities, will make it...

​UK expects to enhance participation in Vietnam's market through CPTPP

The UK's entry into the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) presents an opportunity for Hanoi and London to expand their...

Đồng Nai to develop additional 1,000-hectare IP

The southern province of Đồng Nai plans to build an additional industrial park spanning 1,000 hectares in Cẩm Mỹ District, which is expected to be one of the...

Building a thriving community with KTG Industrial

In the fast-paced world of industrial development, creating a sense of community within industrial parks has become crucial for success. This is especially true in...

Sigma OTT named among Hà Nội's major industrial products in 2024

The Hà Nội People's Committee honored 36 major industrial products, including the Sigma OTT ecosystem by Thủ Đô Multimedia, as one of three recognised digital...

Viettel High Tech sign million dollar contract

Viettel High Tech (VHT) has signed a contract worth over US$1 million with High Cloud Technologies (HCT) from the UAE to supply 5G systems to the middle eastern...

Tetra Pak’s Direct UHT technology a boon for coconut industry

Tetra Pak's cutting-edge technology of Direct Ultra-High Temperature (UHT) and integrated solutions for processing coconuts maintains the flavour, taste, and...


MOST READ


Back To Top