Vietnam seafood exports hit record

Vietnam has gained AN uncomparable high of food export worth last year and is hoping to drive the sales worth to a better level in 2018.

The country exported food volumes price USD eight.3 billion (EUR half-dozen.8 billion) in 2017, jumping eighteen p.c year-on-year to its highest uncomparable level, in line with latest knowledge from Vietnam Customs. The figure is way on top of a previous target of USD seven.1 billion (EUR five.78 billion) for 2017 set by Vietnam in Dec 2016.

Buoyed by the better-than-expected result, the country can try and succeed food exports of USD nine billion (EUR seven.3 billion) this year, up 8.2 p.c from a pair of017, Vietnam’s vice minister for agriculture, Vu Van Tam, aforementioned at a group discussion in capital of Vietnam last week, in line with a report from state-run Vietnam news organization.

Shrimp and pangasius area unit Vietnam’s 2 major food export product. In 2017, the export worth of shrimp rose twenty one p.c year-on-year to USD three.8 billion (EUR three.11 billion), whereas that of pangasius exaggerated nearly four p.c from 2016 to USD one.8 billion (EUR one.47 billion).

Vietnam’s total food exports rose in worth from USD one.5 billion (EUR one.2 billion) in a pair of000 to USD five billion (EUR four.1 billion) in 2010 and USD seven.8 billion (EUR half-dozen.36 billion) in 2014 because it dilated shipments to each the u. s. and also the EEC, despite numerous market barriers as well as a additional rigorous review regime recently instituted within the u. s..

Vietnam Association of food Producers and Exporters (VASEP) aforementioned its trade with the U.S. has up steady following the linguistic communication of a bilateral trade agreement between the 2 countries in 2000. however recent government officials moves within the U.S. have halted AN enlargement of trade, it said. for instance, Vietnam’s exports of pangasius to the U.S. declined sharply in 2017 when the u. s. obligatory higher anti-dumping tariffs and commenced effecting tight inspections.

On twelve Sep, 2017, the U.S. Department of Commerce determined to preliminarily raise the protective tariff on Vietnam frozen pangasius fillets to USD a pair of.39 (EUR 1.95) per kilo beneath its most up-to-date body review of the antidumping duty, multiplication the previous rate. additionally, since a pair of August, 2017, the Food Safety and review Service (FSIS), operational beneath the U.S. Department of Agriculture (USDA), has inspected each single catfish cargo coming into the U.S. at inventories, additionally called I-houses, managed by the Agriculture Department.

Despite the upper rate of inspections, U.S. imports of Vietnamese food were still vital. The u. s. stratified second within the quantity of food it bought from Vietnam in 2017 with imports price USD one.4 billion (EUR one.2 billion), down 1.9 p.c year-on-year.

However, Vietnam’s trade with the E.U. was truly additional vital than its U.S. trade, with the E.U. turning into the highest destination for food product from Vietnam in 2017 for the primary time. Vietnam exported food volumes price USD one.4 billion (EUR one.2 billion) to fourteen major patrons in E.U. within the year, up 22.1 p.c from 2016, in line with the info.

According to tammy, a high priority for Vietnam’s agriculture and also the country’s food business should be operating get the E.U. to revoke the alleged “yellow card’ obligatory by the eu Commission in 2017. The yellow card was bimanual go in Oct 2017 in response to the country’s shortcomings in managing domestic IUU fishing problems; tammy aforementioned he would love to visualize the yellow card withdrawn by June 2018.

Vietnam’s food trade among Asia surged in 2017, reaching a combined export worth of USD four billion (EUR three.2 billion), twenty eight p.c higher year-on-year.

Vietnam exported food to seven countries and 2 territories in Asia in 2017, it according. Japan was its biggest export market last year, rising 18.6 p.c year-on-year to USD one.3 billion (EUR one.1 billion) in worth, followed by China with USD one.1 billion (EUR 892 million), jumping 59.4 p.c from 2016, in line with the info.