The Vietnamese seafood industry persists in its strategy of high value-added products

Vietnamese seafood export businesses, led by the Sao Ta Food Joint Stock Company, are strategically shifting their focus towards high-value-added processed products, despite challenges in the current low global demand for seafood. This strategy includes a focus on the Japanese and UK markets, with an eye on expanding to China, and involves innovation and technology investment to improve product quality and competitiveness. The Vietnam Association of Seafood Exporters and Producers (Vasep) highlights a shift towards value-added products, as shown by a decrease in frozen pangasius fillets exports but an increase in value-added processed pangasius products. The total value of seafood exports in the first four months of the year reached 2.68 billion USD, with shrimp products accounting for 937 million USD. The industry faces challenges such as inflation, inventory issues, and high tax rates in the US market, but businesses are encouraged to seek opportunities and further develop value-added products to strengthen their brand and market position.