3 days ago
Vietnam seafood exporters face challenges but remain hopeful
In the first seven months of this year, exports were worth US$6.22bil, up 17.2% year-on-year. — Vietnam News
HO CHI MINH CITY: Seafood exports are expected to face numerous challenges in the second half of this year, particularly due to US tariffs and raw material shortages.
But demand is recovering in Asia and the European Union (EU).
If a 20% tariff is slapped on Vietnam in August by the United States, exports for the year are projected to be only US$9bil, a 10% decline from last year, according to Le Hang, deputy general secretary of the Vietnam Association of Seafood Exporters and Producers (Vasep).
In the first seven months of this year, exports were worth US$6.22bil, up 17.2% year-on-year, she said, adding that this reflects improving demand, the adaptability of Vietnamese enterprises to global volatility, and efforts by exporters to accelerate shipments to the United States ahead of high tariffs imposed in August.
Exports to major markets such as China, the United States, Japan, Progressive Agreement for Trans-Pacific Partnership countries, and the EU increased.
Exports were up by 43% to China and 10.4% to the United States despite a 19.6% drop in July.
Of the projected annual total exports, shrimp is expected to contribute US$3.6bil to US$3.8bil, pangasius about US$1.8bil, tuna US$850mil to US$900mil and other seafood around US$3bil.
'The imposition of a 20% tariff by the United States starting this month poses a significant threat to Vietnam's major seafood exports to that market, particularly shrimp and tuna,' Hang said.
'Combined with existing anti-dumping and countervailing duties, these measures are weakening the competitiveness of Vietnamese products compared to those from Ecuador, Indonesia and the Philippines.'
She urged businesses to continue improving product quality, investing in advanced processing technologies and diversifying their customer base.
Amid market fluctuations and ongoing global geopolitical uncertainty, the Vietnam Fisheries International Exhibition (Vietfish 2025), Asia's leading seafood exhibition, is expected to help sustain the momentum of Vietnam's seafood trade, according to Vasep.
Vietfish, with the theme 'Innovation and Sustainability' this year, will be held from Aug 20 to 22 at the Saigon Exhibition and Convention Centre in Ho Chi Minh City. — Viet Nam News/ANN
