Vietnam: Strong demand to fuel tra fish exports in the second quarter

Published 2022년 5월 7일

Tridge summary

The tra fish industry in Vietnam is expected to have a positive outlook in 2022, with a nearly 90% increase in exports in the first quarter compared to the previous year. The industry accounts for approximately 27% of the country's total seafood exports. Demand for tra fish is high in major markets such as the US, Europe, and Asia. In the US, tra fish exports exceeded $160 million, an increase of 123% year-on-year. Europe also saw a significant increase in tra fish imports from Vietnam. The industry is expected to continue to grow in the second quarter, providing an alternative to whitefish like cod and pollock from Russia. Despite a decrease in farming areas, tra fish production increased by 8.8% in the first quarter.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

ABO/NDO - The Vietnam Association of Seafood Exporters and Producers (VASEP) has forecast a bright future for the tra fish industry this year on the back of strong demand from major markets including the US, Europe and Asian countries. Tra fish exports surged nearly 90 percent year-on-year in the first quarter of 2022 and accounts for about 27 percent of the country's total seafood shipments. Most major markets have seen double- or triple-digit growth in tra fish imports from Vietnam. By the end of March, exports to the US exceeded over $160 million, up 123 percent from a year earlier, according to VASEP. The association attributed the sharp increase to strong demand for food caused by record inflation, supply chain disruptions, and the Russia-Ukraine crisis. Tra fish sales to Europe reached 46.7 million USD during the period, a year-on-year spike of 86.2 percent. The highest growth was seen in exports to Belgium (120 percent), followed by Germany (97 percent), the Netherlands (86 ...

Source: Baoapbac