The positive signals for Vietnam fishery products amid COVID-19 pandemic
Regulation & Compliances
Sustainability & Environmental Impact
Innovation & Technology
Nguyen Quan
Published Apr 20, 2020
The COVID-19 has been adversely affecting the Vietnamese seafood industry for the past couple of months. However, recently, there have been some positive signals. Firstly, because of the escalation of the pandemic in the US and Europe, there was a rising trend of storing long-lasting and canned food including catfish products among the consumers in these regions, which lead to an increase in exports of products such as tuna. In addition, the consumption of frozen fishery products in the US witnessed a dramatic growth by 3.5% reaching USD 1.1 billion. Therefore, this is a huge change for Vietnam exporters who want to boost their export of seafood products and to release a large amount of inventory in their warehouse. Secondly, the reopening of the Chinese market was also great news for Vietnamese manufacturers and traders as they have suffered huge losses in January and February.
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