Tridge summary
The seafood industry is facing challenges due to the COVID-19 pandemic and geopolitical conflicts, but there are opportunities for growth. Vietnamese seafood processing and exporting enterprises are driven by stable global consumption demand. The Food and Agriculture Organization of the United Nations predicts a 32% increase in the global fish supply by 2030. The Vietnamese government is planning to maintain its leading position in the strategic development plan until 2030 and expand new generation FTAs such as the Regional Comprehensive Economic Partnership, the Vietnam Free Trade Agreement - EU, and Vietnam - UK Free Trade Agreement to create a larger consumption market for Vietnam's seafood exports. However, the industry also faces risks such as global shipping disruptions, increased fuel prices, and compliance with regulations against illegal, unreported, and unregulated fishing.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
The seafood industry is said to be facing difficulties from the COVID-19 epidemic and the geopolitical conflict between Russia and Ukraine, causing global shipping disruptions, along with compliance with anti-fishing regulations. Unauthorized, Unreported and Unregulated (IUU). However, analysts say that the negative impacts are only temporary and opportunities for seafood processing and exporting enterprises are wide open. *The driving force for growth According to KIS Securities Joint Stock Company (Vietnam), stable global seafood consumption demand is the growth engine for Vietnamese seafood processing and exporting enterprises. Processing pangasius for export at the factory of Sao Mai Group (An Giang province). Photo: Vu Sinh - VNA The Food and Agriculture Organization of the United Nations (FAO) said that the global fish supply will increase by 32% in the period 2011-2030, reaching 204 million tons, equivalent to an annual growth rate. compound year (CAGR) reached 2.3%. ...
Source: Vinanet
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