Tra fish export forecast to hit 1.54 billion USD in 2021

ABO/NDO – Overseas shipments of tra fish are expected to bring about 1.54 billion USD in revenue this year, said Le Hang, deputy head of the Vietnam Association of Seafood Exporters and Producers (VASEP)’s training and promotion centre.

According to Hang, following continuous growth in the first seven months, the export of this product dropped sharply between August and October due to COVID-19 impacts. However, as from November, it has seen strong recovery signals thanks to the implementation of the Government’s Resolution 128/NQ-CP on temporary regulations on safe and flexible adaptation to and effective control of COVID-19. In November alone, tra fish export value grew by over 50 percent.

Tra fish export is expected to to hit 1.54 billion USD in 2021. (Photo: VNA).

The US has been recorded the strongest growth among export markets of tra fish this year, at nearly 50 percent, with its demand increasing strongly after the local vaccination and economic recovery campaigns. Currently, the value of tra fish exported to the US accounted for 22 percent of Vietnam’s total turnover of the product. The percentage for China is 28 percent, with the market demonstrating a 79 percent growth in November.

Hang expected that the export will grow further as free trade agreements Vietnam has signed continue to be levers for promoting trade to many markets, especially Mexico, Brazil, Russia, Colombia, and Thailand.

Per data from the Directorate of Fisheries, the total output of tra fish for the entire year is estimated at 1.5 million tonnes and its production outcome is expected to meet the yearly plan.

(Source: NDO)