activities
activities
CPTPP and FTA supports Vietnamese pangasius exports
After five years of implementation, the trans-Pacific agreement has opened up many export opportunities for Vietnamese companies, particularly tra fish.
Under the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), the market has opened up to Vietnamese fisheries, as well as pangasius, according to the Việt Nam Association of Seafood Exporters and Producers (VASEP).
As of June 15, 2024, Việt Nam's pangasius export turnover to the CPTPP market reached US$114 million, an increase of 10 per cent year-on-year, according to Việt Nam's General Department of Customs. The export value in the first half of June was $12 million, up 23 percent over the same period in 2023.
In the first six months of the year, Mexico was the largest importer of Vietnamese pangasius in this bloc, with a value of $31 million, an increase of 7 percent, followed by Japan and Canada ($18 million each) and Singapore ($16 million).
However, from 2019 to 2023, the COVID-19 pandemic, political conflicts, and disruptions to transportation routes in the world created many challenges for Vietnamese fishery exports, including to the CPTPP bloc.
The high inventory of tra fish in many key export markets kept Vietnamese tra fish exports down in 2023. However, compared to other markets, the pangasius export turnover reduction to CPTPP was still acceptable.
This year, pangasius exports have begun to recover in some markets, including the CPTPP bloc, which mainly consumes frozen pangasius fillets from Việt Nam.
VASEP forecasts that in the last six months of 2024, pangasius exports to the CPTPP bloc are expected to continue the increase because prices and demand are gradually stabilizing.
To promote the exports, businesses need to improve their competitiveness and research this agreement's advantage in term of tariff to take export opportunities.
Hashtags:
Related Posts
In recent years, the seafood industry has witnessed a significant shift towards value-added products, and Pangasius.
In the first six months of the year, Mexico was the largest importer of Vietnamese pangasius in this bloc with a value of $31 million, an increase of 7 percent, followed by Japan and Canada ($18 million each) and Singapore ($16 million).
In the last months of 2024, Vietnam's seafood export industry is facing many potential opportunities, as well as challenges. For exporters and importers to make the most suitable strategies, it is very important to update information on forecasts and trends in the Pangasius export sector. This article will analyze influencing factors and predict Vietnam's Pangasius export situation by 2024.
In the last months of 2024, Vietnamese Pangasius gradually asserted its position in the Mexican market, becoming a favorite product of consumers and food industry experts.
Fresh seafood is considered a favorite dish of many people, including fresh shrimp. However, in some countries with unfavorable climatic conditions and geographical locations for cultivating this type of aquatic product, frozen shrimp is considered a popular choice thanks to its convenience and availability long-term preservation ability. However, does frozen shrimp retain its original nutritional value when compared to fresh shrimp? Please explore the article below to get a more specific perspective on the Nutritional Value of Frozen Shrimp.
Every Christmas, the demand for food shopping will increase much stronger than usual, especially in large markets such as the US, EU, Middle East, Japan and Singapore. At the present time, Vietnam Seafood, especially in famous areas in the country such as Ca Mau, Soc Trang, ... has gradually asserted its position as well as an international farming process in the whole seafood market.
As of September 2024, Vietnam's seafood export turnover reached more than 7 billion USD, of which Shrimp and Pangasius were two categories with great growth, thanks to many positive changes: Demand’s increasing in the international market, product quality is increasingly improved to suit the import market criteria, bringing a positive signal for Vietnam's Seafood industry.
Vietnam has been affirming its leading position in Seafood exports. Up to now, the Vietnamese Shrimp industry is currently leading in Seafood exports with Value-Added Products, specifically Sushi Ebi, Nobashi, Breaded Shrimp Ball, Tempura and etc. With international quality standards, Vietnam's Shrimp Value-Added Products have appeared widely in demanding markets such as Japan, Korea, the United States and Europe, creating a great competitive advantage for the Vietnamese Seafood industry.
