Vietnam seafood exports “turned the table”, increasing to serve end-year demand.

( In August seafood exports decreased because demand from consuming markets slowed down. Fortunately, this month, orders have gradually increased, enterprises were also actively changing their production to match the market situation.

According to the Vietnam Association of Seafood Exporters and Producers (VASEP), in September, the supply of raw materials was quite stable due to the positive impact of the falling gasoline prices. Demand rebounded as importers solved inventory problems. At the same time, there are more positive signals from the markets.

“By the end of the 2022, if the Chinese market re-opens after the Zero covid policy, seafood exports will be stable and develop well for 2023” said by Mr. Truong Dinh Hoe, General Secretary of VASEP.

Enterprises also expect that demand from key markets such as the US, Japan, and EU will increase from October to serve the festival season. Enterprises are actively investing in deep processing, diversifying markets, improving value, and stabilizing jobs for employees.

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Ms. Ngo Thi Dieu Trinh, Deputy General Director of Loc Kim Chi Seafood JSC, said: "We must strictly control the farming area and factory  to make the best quality products to compete sustainably in the US market".

According to the Directorate of Fisheries, the biggest challenge of seafood exports in the second half of the year is to ensure a balance between supply capacity and consumption demand in key markets, between output and quality. Enterprises should focus on this point to increase the value added to their products. Selling at a higher price is better than selling many products at low prices.

Vietnam seafood exports in September were gradually increasing. With the  effort of enterprises, the seafood export target of 10 billion USD is forecasted to be completed by the end of November. 

Compiled by Thuy Linh

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