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    Home > Food News > Food Articles > Vietnam's aquatic product export activities maintain a competitive advantage

    Vietnam's aquatic product export activities maintain a competitive advantage

    • Last Update: 2021-03-19
    • Source: Internet
    • Author: User
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    (De Volkskrant) two months of 2021, Vietnam's foodmate.
    net/tag_1738.
    html" class="zdbq" title="Food information related to aquatic products" target="_blank">seafood foodmate.
    net/tag_227.
    html" class="zdbq" title="Export-related food information" target="_blank">export turnover of more than $ 1 billion, an increase of 2.
    2%.
    According to evaluation, compared with other countries, this year, Vietnam's aquatic products can still maintain a competitive advantage in the supply of raw materials.
    In addition, various free trade agreements will continue to be a booster for Vietnam's aquatic product exports to resume growth in some markets.
    Therefore, it is predicted that the total aquatic product exports in 2021 will reach 8.
    8 billion U.
    S.
    dollars, an increase of nearly 5% compared to 2020.
     
    According to the Vietnam Aquatic Products Processing and Export Association, the spread of the new crown pneumonia epidemic in 2020 has disrupted global aquatic product trade activities and caused a change in the sales trend of aquatic products.
    Vietnam’s aquatic product exports fell sharply by 10% and 7% in the first and second quarters of 2020, but began to recover and grow in the third quarter.
    In 2020, the total export volume of aquatic products reached 8.
    4 billion U.
    S.
    dollars, a decrease of 1.
    9% from 2019.
    Entering 2021, aquatic product trade activities are still being greatly affected by the new crown pneumonia epidemic, and even this is still the main factor that dominates the import and export trend of Vietnam's aquatic products.
    However, compared with other countries, Vietnam can still maintain a competitive advantage in the supply of raw materials.
    In addition, various free trade agreements will continue to be a booster for the recovery of Vietnamese aquatic product exports in some markets.
    Companies will gain more experience and flexibility to adapt to market fluctuations, changes in demand and preferences after the outbreak of the new crown pneumonia one year later.
     
      From the beginning of 2021, the Ministry of Agriculture and Rural Development has put forward forecasts on key markets that need to be focused.
    Accordingly, Japan’s import demand for aquatic products will not increase in the near future.
    The product structure will still shift to frozen, canned aquatic products, which are easy to use at home and easy to process.
    Due to the impact of trade and non-trade barriers and multilateral and bilateral free trade agreements, the market structure will undergo tremendous changes.
     
      It is predicted that in 2021, Vietnam's exports of aquatic products to China will increase slightly compared to 2020.
    China's strengthening of the control of imported aquatic products in terms of quality, quarantine, and procedures will lead to stagnation in the export of aquatic products to the market at certain times.
    All companies must take the initiative to grasp various regulations and procedures to reduce risks.
     
      However, in the future, Vietnam’s exports of aquatic products to the U.
    S.
    market are expected to soar because of the increase in consumption and import demand for U.
    S.
    aquatic products, and the prices of two main Vietnamese products, such as fish and shrimp, which meet the needs of most consumers.
    According to Ruan Guozhan, Director of the Agricultural Products Processing and Market Development Bureau, in the first quarter of 2021, it is necessary to promote the export of frozen shrimp products to major markets with high demand such as the United States, Japan, South Korea, and Europe.
    Companies must pay special attention to the various procedures in order to be able to enjoy tariff preferences from various free trade agreements, thereby enhancing the competitiveness of shrimp products from competitors such as India, Thailand, and Indonesia in terms of price.
     
      For the fish-checking products, the supply source has gradually stabilized, and the output of products will be affected less by the second and third quarters of 2020.
    The beginning of 2021 is the time for fish-checking export companies to increase their export efforts to major markets and traditional markets.
    Du Liye, deputy general manager of Nanyue Group, said that during the Chinese New Year, the company has exported more than 200 tons of fish to markets in Europe, Thailand, South America, and the Middle East.
     
      In 2021, a series of new-generation free trade agreements signed in 2020 will exert positive effects.
    Especially for the convenience of trade, the "Vietnam-UK Free Trade Agreement" signed in 2020 and effective in early 2021 has injected new growth momentum into Vietnamese aquatic products, and tariff preferences have provided Vietnamese exports of billions of dollars.
    The export products opened up many doors of export opportunities to the promising British market.
    After the "Vietnam-Britain Free Trade Agreement" comes into effect, the import tax on most raw shrimp products exported by Vietnam to the UK will be immediately reduced to zero from the basic tax rate of 10-20%.
    Therefore, all companies must seize the opportunity and give full play to their advantages to promote aquatic product export activities in 2021.
    (Finish)
    foodmate.
    net/tag_1738.
    html" class="zdbq" title="Food information related to aquatic products" target="_blank">Aquatic products foodmate.
    net/tag_227.
    html" class="zdbq" title="Export-related food information" target="_blank">export
     
      According to the Vietnam Aquatic Products Processing and Export Association, the spread of the new crown pneumonia epidemic in 2020 has disrupted global aquatic product trade activities and caused a change in the sales trend of aquatic products.
    Vietnam’s aquatic product exports fell sharply by 10% and 7% in the first and second quarters of 2020, but began to recover and grow in the third quarter.
    In 2020, the total export volume of aquatic products reached 8.
    4 billion U.
    S.
    dollars, a decrease of 1.
    9% from 2019.
    Entering 2021, aquatic product trade activities are still being greatly affected by the new crown pneumonia epidemic, and even this is still the main factor that dominates the import and export trend of Vietnam's aquatic products.
    However, compared with other countries, Vietnam can still maintain a competitive advantage in the supply of raw materials.
    In addition, various free trade agreements will continue to be a booster for the recovery of Vietnamese aquatic product exports in some markets.
    Companies will gain more experience and flexibility to adapt to market fluctuations, changes in demand and preferences after the outbreak of the new crown pneumonia one year later.
     
      From the beginning of 2021, the Ministry of Agriculture and Rural Development has put forward forecasts on key markets that need to be focused.
    Accordingly, Japan’s import demand for aquatic products will not increase in the near future.
    The product structure will still shift to frozen, canned aquatic products, which are easy to use at home and easy to process.
    Due to the impact of trade and non-trade barriers and multilateral and bilateral free trade agreements, the market structure will undergo tremendous changes.
     
      It is predicted that in 2021, Vietnam's exports of aquatic products to China will increase slightly compared to 2020.
    China's strengthening of the control of imported aquatic products in terms of quality, quarantine, and procedures will lead to stagnation in the export of aquatic products to the market at certain times.
    All companies must take the initiative to grasp various regulations and procedures to reduce risks.
     
      However, in the future, Vietnam’s exports of aquatic products to the U.
    S.
    market are expected to soar because of the increase in consumption and import demand for U.
    S.
    aquatic products, and the prices of two main Vietnamese products, such as fish and shrimp, which meet the needs of most consumers.
    According to Ruan Guozhan, Director of the Agricultural Products Processing and Market Development Bureau, in the first quarter of 2021, it is necessary to promote the export of frozen shrimp products to major markets with high demand such as the United States, Japan, South Korea, and Europe.
    Companies must pay special attention to the various procedures in order to be able to enjoy tariff preferences from various free trade agreements, thereby enhancing the competitiveness of shrimp products from competitors such as India, Thailand, and Indonesia in terms of price.
     
      For the fish-checking products, the supply source has gradually stabilized, and the output of products will be affected less by the second and third quarters of 2020.
    The beginning of 2021 is the time for fish-checking export companies to increase their export efforts to major markets and traditional markets.
    Du Liye, deputy general manager of Nanyue Group, said that during the Chinese New Year, the company has exported more than 200 tons of fish to markets in Europe, Thailand, South America, and the Middle East.
     
      In 2021, a series of new-generation free trade agreements signed in 2020 will exert positive effects.
    Especially for the convenience of trade, the "Vietnam-UK Free Trade Agreement" signed in 2020 and effective in early 2021 has injected new growth momentum into Vietnamese aquatic products, and tariff preferences have provided Vietnamese exports of billions of dollars.
    The export products opened up many doors of export opportunities to the promising British market.
    After the "Vietnam-Britain Free Trade Agreement" comes into effect, the import tax on most raw shrimp products exported by Vietnam to the UK will be immediately reduced to zero from the basic tax rate of 10-20%.
    Therefore, all companies must seize the opportunity and give full play to their advantages to promote aquatic product export activities in 2021.
    (Finish)
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