US becomes top importer of Vietnamese tra fish in February

The US surpassed China to become the biggest importer of Vietnamese tra fish in February, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).

Although tra fish exports to most markets last month fell sharply from the same period last year, shipments to the US reached 18.1 million USD, accounting for 17.8 percent of the total.

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 zero percent in the next three years.

However, experts still recommended farmers actively reduce this year’s tra fish output by 10 percent from 2019 to 1.2 million tonnes.

Data from VASEP showed that Vietnam gained 2 billion USD from tra fish exports in 2019, down 11.7 percent year on year. The decline was attributable to difficulties in exports to traditional markets and plunging export prices.

Source: Vietnam News Agency