Wednesday, April 01, 2020 6:05:56 PM - Markets open
VN-INDEX 680.23 +17.70/+2.67%
HNX-INDEX 95.61 +2.98/+3.21%
UPCOM-INDEX 48.63 +0.89/+1.86%
Shrimp export falls 8.1 percent in eight months
VietnamPlus - 9/21/2019 1:42:12 PM
 (0 ratings. You must sign in to rate.)
 Vietnam exported 1.93 billion USD worth of shrimp during January-August, down 8.1 percent from the same period last year, according to the Ministry of Agriculture and Rural Development’s Directorate of Fisheries.
The pace of reduction in exports has slowed down due to positive export growth in July. Last month, shrimp export reached some 334 million USD, posting a year-on-year increase of 13.4 percent.
The country saw good growth in exports to eight major markets like the EU, Japan, the US, mainland China, the Republic of Korea, Canada, Australia and China’s Taiwan.
The Vietnam Association of Seafood Exporters and Producers (VASEP) expected shrimp exports to grow further this year to a value of more than 4 billion USD thanks to robust signs in the market.
According to the association, the shrimp sector will make breakthroughs in exporting to 28 European Union countries, with estimated export value of 1 billion USD, as it will enjoy low import tariffs once the EU-Vietnam Free Trade Agreement takes effect.
Another positive sign comes from the US market. Most recently, The US Department of Commerce (DOC) released the final results of the 13th period of review (POR 13), officially imposing zero percent tariffs on 31 Vietnamese shrimp exporters.
VASEP General Secretary Truong Dinh Hoe said the preliminary tariff would encourage local firms to promote shrimp shipments to the US in the coming months because they had faced many challenges in exporting this kind of seafood to the American market, including anti-dumping tariffs.
A lower tariff will help Vietnamese shrimp compete better with other foreign rivals, he said.
Giving his comments on shrimp shipments in the coming months, Hoe stressed demands for shrimp normally increase in the end of the year, particularly, orders from the US have increased while the nation is reducing purchase from India, Thailand and China.
Furthermore, India’s shrimp harvest season has ended, giving room for global shrimp to surge.
The Directorate of Fisheries suggested local producers work to ensure product traceability and quality, while VASEP said that it is necessary to promote  exports of high-added value products to avoid anti-dumping tariffs in foreign countries./.
Read original article here
Newer News
30/03 Hanoi’s CPI rises 5.23 percent in Q1
29/03 MoLISA proposes $843m bailout package for businesses during COVID-19
26/03 Newly registered FDI rises by nearly 45 percent in Q1
22/03 Pandemic has little impact on Việt Nam’s shrimp exports
18/03 Việt Nam’s garment exports down in two months
15/03 Fruit, vegetable export targets unlikely to be achieved in 2020
14/03 Việt Nam achieves trade surplus of almost $2b in two months
12/03 Tight co-ordination needed to ensure EVFTA benefits
23/02 Digital platforms improve competitiveness
22/02 Telecoms firms turning to digital content
Older News
20/09 Crude import tax zeroed in November
17/09 Despite US exports rise, VN is urged to tighten origin rules to avoid investigations
15/09 VN, Cuba seek to expand investment, trade ties
10/09 Footwear, handbag exports reel in nearly 14.5 bln USD in eight months
06/09 Việt Nam faces difficulties in rice exports
04/09 Campaign collects businesses’ recommendations for economic policies
03/09 EU enhances inspections on Vietnam’s agricultural products from Sept 1
03/09 Vietnam’s export turnover up 7.3 percent in eight months
02/09 Revised Law on Enterprises to add household business regulations
31/08 CPTPP promises stronger ties with Singapore, Malaysia: workshop
Newsletter Signup
Top Stories
Reference exchange rate down 5 VND on March 26
Reference exchange rate up 5 VND on March 18
Shares tumble over WHO declaration of COVID-19 pandemic
Tight co-ordination needed to ensure EVFTA benefits
VN shares mixed, but growth expected to return
Market Update
Last updated at 3:10:03 PM
VN-INDEX 680.23 +17.70/+2.67%
Real-time chart
Top 5 Actives
Top 5 Gainers
Top 5 Losers
My Favorite Quotes
Your most recently viewed tickers will automatically show up here if you type a ticker in the Get Quotes box on the top of the page.
Company Research
Type in the symbol above for thorough background information, key statistics and financial information.
Stock Sectors
We continuously improve our services, here are the latest updates...
Allow you to monitor a customised group of securities. You can set up multiple Portfolios to help you better manage your investments.
Trigger Alerts
Get up-to-date alerts delivered directly to your email address.
Stock Screener
Allow you to filter the market and find exactly what sort of company you are looking for.
Live Terminal
Get instant access to FREE REAL-TIME streaming quotes for hundreds of stocks from HOSE, HNX and UPCOM exchanges.