Tuesday , February 27 2024

Aquatic product exports expected to recover from late Q3

The Ministry of Agriculture and Rural Development (MARD) forecast that aquatic product exports will bounce back at the end of the third quarter and reach the yearly revenue target of $10 billion.

It reported that in the first six months of this year, the export value of aquatic products hit nearly $4.2 billion, down over 27% year-on-year.

To achieve the yearly target, many businesses have diversified products, focused on intensive processing, and invested in value chains.

Meanwhile, the MARD and localities will further provide fishermen with market information and guide them to implement solutions to deal with the European Commission (EC)’s “yellow card” warning against Vietnamese seafood, and step up inspections and handling of cases of illegal, unreported and unregulated (IUU) fishing, towards a sustainable fishery sector.

Competent agencies will also work to remove obstacles relating to the Chinese and US markets, diversify export markets, and coordinate with banks to support businesses.

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