Aquaculture sector faces challenges

ABO/VNA - The aquaculture sector makes up nearly 10 bln USD in exports each year but the sector is facing several challenges, including the threat of completely losing markets for Vietnamese tra fish products.

Export enterprises have acknowledged that exports of Vietnamese tra fish have lost their monopoly. Currently, the sector produces about 1.3 million tonnes each year, meanwhile in other countries – such as Indonesia, Bangladesh, and India –production totals reach up to 110,000; 450,000; and even 650,000 tonnes, respectively.

Over the past two decades, tra fish have been considered one of Vietnam’s monopoly seafood products in breeding, processing, and export chains. China and the US are Vietnam’s largest tra fish importers.

China has started to breed its own tra fish, while Vietnam is expected to increase its exporting value.

Meanwhile, the sector has taken measures to prevent illegal, unreported, and unregulated (IUU) fishing to have the EC yellow card removed.

As planned, in May 2019, the EC Inspection Team will return to Vietnam to inspect and assess the situation and the results of implementing the EU commission’s regulations against illegal, unreported, and unregulated fishing.

Whether Vietnam can remove the yellow card will much depend on the improvement of the legal framework and changes in the current seafood exploitation situation.

(Source: VNA)