Fishery exports projected to near 8.9 billion USD this year

Shipments of fishery products are estimated to rake in 8.89 billion USD in 2021, posting a year-on-year rise of 5.7 percent, said Nguyen Quang Hung, deputy head of the Ministry of Agriculture and Rural Development’s Directorate of Fisheries.

The Directorate has kept a close watch on production at localities, promptly reported to the Ministry and devised measures in a flexible and suitable manner. 

It also worked to arrange workshops to address bottlenecks and promote production so as to maintain the supply chain in 2021 and the upcoming year. 

Demand for shrimp imports was on the rise this year, notably in major markets of Europe, the US, Japan, China and the Republic of Korea (RoK). 

Free trade agreements have helped ensure stability in Vietnam’s shrimp production and processing, contributing to the sector’s growth.

Many Vietnamese exporters were allowed to ship tra fish (pangasius) to the US. 

More firms received permission to export products to other leading markets of Russia, the RoK and China this year.

Of note, nearly 780 out of about 900 fishery companies of Vietnam are eligible to ship their products to the Chinese market, signalling a rosy prospect for the sector in 2022.