Making news

Tra fish nets impressive export growth

Tra fish exports recorded impressive growth in the first 10 months of 2022, with turnover eclipsing the 2.2 billion USD mark.
The yearly export turnover is forecast to top 2.5 billion USD, up 58% compared to that of the same period last year.

According to businesses, in 2022, global inflation and the Russia-Ukraine conflict have sharply increased the export of affordable white fish products such as tra fish. The import value of tra fish products from Vietnam have increased by 40-200% this year.

At present, the two biggest importers of Vietnamese tra fish are China and the US, accounting for 30% and 23% of the Southeast Asian country’s total export volume, respectively. In the January-October period, the value of tra fish exports to China reported a year-on-year rise of 110% to 647 million USD.

Those two members of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and several Asian, North, and South American markets such as Australia, Singapore, Malaysia, Canada, and Chile also recorded impressive growth. Notably, the export to Canada posted a fourfold increase compared to that of the same period last year.

At present, Vietnam has over 400 businesses engaged in the export of tra fish, most of them have reported growth over the same period last year, mainly thanks to increases in export prices.

Tra fish exporters are advised to continue their negotiations to expand their markets, and take advantage of opportunities brought about by free trade agreements (FTAs) to boost exports and promote brand./.