VASEP sets a target of $9 billion for seafood...

On the morning of the 12th in Ho Chi Minh City, a meeting was held with members of VASEP – the Vietnam Association of Seafood Exporters and Producers.

According to information submitted at the meeting, the seafood sector has set a target of $9 billion in seafood exports for 2023. Since the beginning of the year, sales of key products such as shrimp and catfish (“tra” fish) have each declined by more than 30%. This has made it difficult for Vietnam to maintain the same export value as the same period last year. Nevertheless, the total seafood export value this year is expected to reach approximately $9 billion, with shrimp, tra fish, and general seafood exports estimated at $3.5 billion, $1.9 billion, and $3.6 billion, respectively.

VASEP Chairman Truong Dinh Hoe pointed out that in order to maintain order volumes and key markets, Vietnamese enterprises have been responding flexibly to customer demands, including adjusting product prices and production costs. He stated:

“If exports to the U.S. market in June increase as they did in May, the export situation for Vietnamese seafood can recover. Additionally, August and September, which are the peak fishing seasons, will provide a good opportunity for export activities in the seafood sector.”

Regarding the opportunities for seafood exports during the 2022–2025 period, VASEP representatives noted that the implementation of next-generation free trade agreements will provide competitive advantages for Vietnamese seafood and support the development of the sector.