Vietnamese Tra fish companies see low profits in China and Hong Kong

The turnover of Vietnamese tra fish exported to China hit US $ 13.55 million, down 38.6 per cent over the same period last year. The figure accounted for 8.5 per cent of Vietnam's total outbound sales of the fish during the period. The export value to Hong Kong also fell by 40.5 per cent. VASEP's market analysts attributed the unexpected decline to many difficulties, including the COVID-19 pandemic and measures used to slow the spread of the virus. Early last year, seafood processing factories in China were impacted by the pandemic, which caused interruptions in trade, affecting the export volume of tra fish to this market. Early in the third quarter last year, trade between Vietnam and China increased again ahead of China's National Day in October. In October last year, the price of frozen tra fish fillets exported to China suddenly surged to $ 2.52 per kg. However, China then stepped up efforts at border gates to contain the spread of the coronavirus through imported frozen ...