Viet Nam's seafood exports to China saw a dramatic increase (04-09-2015)
Viet Nam's seafood exports to China in the first half of this year saw a sharp increase while that to the major markets faced difficulties.
According to VASEP’s report at a workshop on trends and prospects for seafood export to Chia held in Ho Chi Minh City on 26 August, in the first six months of this year, the country’s seafood export to the U.S gained US$579 million while that to EU and Japan reached US$547 and US$457, respectively.
Meanwhile, by the end of June 2015, the total tra fish export value to China reached US $ 70.15 million, up 50.7% y-o-y while shrimp export up to 70% y-o-y.
The hike was attributable to the fact that Chinese government has adopted policies to encourage seafood imports because its shrimp industry is facing EMS which leads to the lack of raw material for processing and exporting. In addition, consumption of seafood in China is growing strongly.
Discussing the prospects for exporting to China, the delegates agreed that this is a alternative market while exports to major markets such as the US, Japan, and EU are in difficulties. Since China does not have a complete legal system of export aquatic products, seafood smuggling occurs seriously, disrupting the market order.
Vietnamese enterprises were facing difficulties in negotiating on fish price with Chinese traders. Also, they lacked information on trends, market fluctuations as well as the import procedures and policies of China, leaving many businesses concerned when exporting to China.
Meanwhile, Vietnam's seafood, especially tra fish has not been identified and favored by Chinese consumers, thus making it impossible to have firm foot on this market.
According to Truong Thi Le Khanh - Chairman, CEO of Vinh Hoan Joint Stock Company, the surest strategy to penetrate the Chinese market is building the brand name of the product and developing a sustainable market.