HANOI, Mac 7 (NNN-VNA) – Vietnam’s seafood exports are forecast to reach the 9.5-billion U.S. dollar mark in 2024, the local newspaper Vietnam News reported today, citing the Vietnam Association of Seafood Exporters and Producers.
In the early months of the year, the country’s seafood exports recorded positive signals, with a 64 percent increase in demand year on year, reaching 750 million dollars.
All of Vietnam’s major seafood product categories experienced significant improvement compared to the same period last year.
Exports to China recorded the most notable breakthrough, reporting an increase of more than three times, according to the association.
Nguyen Thi Thu Sac, the association’s chairwoman, said, there are still challenges and issues to overcome, such as oversupply, high inventories, lower prices, and increased competition, “but we anticipate stronger demand and higher prices in the second half of the year as prices typically climb as inventories decrease.”
Last year, Vietnam’s seafood export revenue reached nine billion dollars, an 18 percent decline compared to the previous year.– NNN-VNA
