Tra fish exports surge to set new record

Tra fish exports hit a record of 2.26 billion USD in 2018 (Photo: VNA)

Hanoi (VNA) – Tra fish exports posted an impressive growth rate of 26.4 percent this year to hit a record of 2.26 billion USD, according to the Directorate of Fisheries of Vietnam.

Nguyen Ngoc Oai, Acting Director General of the directorate, said tra fish exports have leapt from 1.78 billion USD in 2017 to 2.26 billion USD this year, compared to revenue of only about 1.5 – 1.8 billion USD over the last five years and the 1.9 – 2 billion USD target initially set for 2018.

The breakthrough growth is attributable to numerous factors, said the Vietnam Association of Seafood Exporters and Producers (VASEP).

Aside from high prices since 2017, businesses have improved their product quality and organised production chains to ensure sufficient supplies.

Additionally, growing demand in many markets, particularly major ones like the US, China (including Hong Kong), the EU and ASEAN, has helped boost tra fish exports.

VASEP elaborated that this year, the US returned to top spot among Vietnam’s tra fish markets, with shipments surging by 54.5 percent to make up 24.2 percent of total revenue. Tra fish exports to China and the EU have hiked 23.7 percent and 17.1 percent year on year, respectively.

Oai said Vietnamese tra fish has suffered from anti-dumping duties imposed by the US over the years. However, in 2018, several delegations of inspectors from the US Department of Agriculture visited Vietnam. After examinations, this department’s Food Safety and Inspection Service proposed Vietnamese tra and basa fish be recognised as eligible for export to the US. 

Moreover, anti-dumping duties on some tra fish exporters have been reduced, even to zero percent for some firms, helping tra fish shipments to this market enjoy breakthrough growth, the official added.