Tra fish export to EU: A spectacular breakthrough? (24-07-2019)

In 2019, besides the US and China, the tra fish industry is focused on the EU market. In addition to being a traditional market with high consumption, the EU – Vietnam Free Trade Agreement (EVFTA) about to sign is a promise to increase exports of tra fish products to this market.
Tra fish export to EU: A spectacular breakthrough?

Turnover increased rapidly

According to statistics from Vietnam Association of Seafood Exporters and Producers (VASEP), in the first 5 months of this year, Vietnam's tra fish exports reached about US$ 690 million, a slight decrease over the same period. Currently China, the US and EU are still traditional markets, accounting for 53% of the total value of tra fish export of the country.

In the US market, due to the impact of anti-dumping barriers, along with other trade barriers, Vietnam's tra fish export decreased, while in China market, the change of import policy, higher quality requirements should reduce the turnover.

Particularly for the EU market, in the last 5 months there has been a spectacular breakthrough when growing to 31.5% and reaching US$ 105.2 million. In particular, exports to the 4 largest single markets witnessed a positive increase, included: the Netherlands increased by 12.2%; England up by 59.4%; Germany 61.6% and Belgium 63.8% over the same period last year. Thus, starting from the beginning of 2019, tra fish export to EU has shown signs of obvious growth after a long time of decline. Not only increasing in turnover, the export price of tra fish in EU countries was also recorded an average increase of 2-2.6 US$/ kg in 2016-2017 to 2.8 - 3.5 US$/ kg in 2018 and in the first 3 months of this year, tra fish price reached 2.93 - 3.55 US$/ kg.

Mr. Truong Dinh Hoe - Secretary General of VASEP - said that tra fish export to EU market grew again thanks to the persistent efforts of enterprises in the process of stabilizing quality and solving communication issues.

Improving quality

VASEP predicts that tra fish export in 2019 will reach about US$ 2.4 billion, up by 12% year – on – year. The reason is that the Japanese, US and Chinese markets are showing signs of increasing again, while the EU market is expected to increase more when the EVFTA is signed and approved. “With the above advantages, it is not difficult to achieve the turnover of US$ 2.4 billion. VASEP determined that in 2019, EU market will be one of the focus markets in exporting seafood of Vietnam” - Mr. Hoe shared.

Accordingly, VASEP will carry out communication campaigns to promote tra fish images of quality improvement and meeting the farming requirements given by consumers in the EU market. At the same time, carrying out trade promotion programs, particularly participating in seafood fairs and exhibitions in EU countries to introduce quality tra fish products to consumers will be also done by VASEP.

Cat Tuong

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