Seafood products restructured to offset the decrease in export turnover from shrimp and pangasius in Vietnam

Published 2023년 4월 16일

Tridge summary

Vietnam's seafood industry is looking to expand into high-demand markets such as the European Union, Korea, Japan, Australia, and the United States, while also targeting smaller but stable markets in the Middle East and ASEAN. The industry also plans to capitalize on the reopening of the Chinese market, despite the intense competition. There is expectation for products other than pangasius and shrimp, which are currently experiencing a decline in export turnover, to bring positive changes. The Association of Seafood Exporters and Producers anticipates a shift towards processing and export processing of seafood products, with a particular focus on products for Asian supermarkets in other countries.

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

Original content

To overcome difficulties, businesses are focusing on markets with great demand. Accordingly, in addition to researching more value-added products for markets: the European Union, Korea, Japan, Australia, and the United States, at the same time, it also expanded to small but potential markets thanks to more stable economy than in the Middle East and ASEAN. With its geographical advantage, China is considered as a potential market to promote the export of fresh and live seafood products of Vietnam, however, the competitive pressure in this market is very large because many exporters in other countries are facing difficulties. Other countries are also focusing on this market. Ms. Le Hang, communications director of the Association of Seafood Exporters and Producers, said that the reopening of the Chinese market is expected to bring positive changes in value, the problem is the structure. Products need to change to compensate for traditional products such as pangasius and shrimp, ...

Source: Vov