[ad_1]
Staff packaging pangasius fillets at a processing plant of I.D.I Worldwide Improvement & Funding Company. (Picture: VNA)HCM Metropolis (VNA) – After being affected by the COVID-19
pandemic and fluctuations in inflation, the demand and traits of seafood
consumption in lots of markets have modified, requiring Vietnamese seafood
enterprises to adapt to these market traits, specialists stated.
The
view was shared at a seminar on demand and traits of the seafood market
after COVID-19 organised by the Vietnam Affiliation of Seafood Exporters
and Producers (VASEP) on August 24 in Ho Chi Minh Metropolis.
The
COVID-19 pandemic, logistics disruptions because of the Russia-Ukraine
battle and compliance with laws on unlawful, unreported and unregulated
fishing (IUU) are challenges dealing with the seafood business.
Le
Grasp, VASEP director of communications, stated the world seafood market in
the previous 5 years has grown by 16% with an annual import turnover of
about 148.5 billion USD, of which, shrimp accounted for the best
proportion and elevated essentially the most (29%), whereas salmon elevated 16%, and demand
for tuna was much less risky.
In the meantime,
demand from the Chinese language market has jumped 71% during the last
5 years, adopted by the US with a rise of 32%. Most markets noticed elevated
demand, aside from Japan, which decreased by 6%, and Germany, which decreased
barely by 0.6%.
Exporting
seafood to the EU market is dealing with many challenges as a result of every market within the
EU bloc has its personal necessities.
In
addition, inflation is making EU shoppers tighten their spending
and focus on reasonably priced gadgets. The bottom EUR/USD trade
fee in 20 years additionally makes shoppers restrict spending, forcing importers to
re-negotiate with exporters, which delays imports.
Different
challenges embrace stricter calls for for EU market certification, and environmental
and labour necessities, which might be critical issues for Vietnamese
seafood producers.
To
take full benefit of the EVFTA, VASEP is asking for extra help from the
Import-Export Division and the Ministry of Trade and Commerce for companies
to benefit from preferential tariffs and apply the guidelines of origin to
scale back obstacles when exporting seafood to the EU market.
The
EU was once Vietnam’s largest pangasius import market, with peak gross sales of 511
million USD in 2010, accounting for 36% of Vietnam’s pangasius exports. Vietnamese
pangasius additionally accounted for 22% of the EU’s import of white fish.
Nevertheless,
in 2021, pangasius exports to the EU reached simply over 106 million USD,
accounting for 7% of Vietnam’s whole pangasius exports. Within the EU white-meat
fish import market, Vietnamese pangasius solely accounts for 1.6% of market
share.
The
EVFTA, efficient from August 1, 2020, introduced wonderful prospects for Vietnam’s
seafood exports, together with pangasius, to this market. Accordingly, the export
of pangasius merchandise will obtain tax reductions underneath a three-year roadmap.
Smoked
pangasius exports can have tax reductions inside seven years from
the efficient day of the settlement.
Nevertheless,
some great benefits of tariffs didn’t promote a rise in pangasius exports to
the EU in 2020 and 2021 due to the pandemic.
In
addition, there is a matter concerning compliance with laws towards
unreported and unregulated fishing (IUU). 4 years since receiving
a “yellow card”, Vietnamese seafood export quantity to the EU
market declined by 3% throughout 2017-2021.
The
Authorities has pledged to give you acceptable and efficient options
to shortly remedy the “yellow card” penalty.
Vietnam can then
keep away from the danger of receiving a “crimson card” and revel in preferential
tariffs and institutional adjustments from the EVFTA.
Nevertheless,
seafood exports to the EU nonetheless maintained a development fee of 28% in July and 39%
within the first seven months of this yr, to 829 million USD, in comparison with the
similar interval in 2021.
Seafood
exports to the US within the first seven months reached almost 1.5 billion USD, up
31% yr on yr, Grasp stated.
In the meantime,
seafood export worth to China within the first seven months grew by 71% to 1
billion USD./.
[ad_2]
Source link
