US becomes largest importer of VN’s tra fish in February
VGP - The US surpassed China to become the biggest importer of Vietnamese tra fish in February, according to the Viet Nam Association of Seafood Exporters and Producers (VASEP).
China's imports of tra fish from Viet Nam have plunged 50% due to Covid-19.
VASEP predicted further growth in the export of this commodity to the North American market despite the COVID-19 pandemic’s impact on the trading of aquatic products.
Meanwhile, exporters will also have great chances in the EU as the EU-Vietnam Free Trade Agreement (EFVTA), recently ratified by the European Parliament and waiting for the Vietnamese National Assembly’s adoption, will slash tariffs on tra fish imports to the market to 0% in the next three years.
However, experts still recommended farmers actively reduce this year’s tra fish output by 10% from 2019 to 1.2 million tons.
Data from VASEP showed that Viet Nam gained US$2 billion from tra fish exports in 2019, down 11.7% year on year. The decline was attributable to difficulties in exports to traditional markets and plunging export prices.
The US imposed antidumping tax on tra fish, and its final decision approving the quality compatibility of Vietnamese tra fish was made later than expected, stated VASEP.
Specifically, Viet Nam’s export value for tra fish to the United States maintained a downward trend for 11 consecutive months in 2019 compared with exports in 2018.
Later, the U.S. Department of Agriculture officially approved the compatibility of Vietnamese tra fish standards with its own late last year. This allowed Vietnamese tra fish to be shipped to more overseas markets.
By Hoang Ha