Tuesday, June 6, 2023 2:43:18 AM - Markets open
VN-INDEX 1,097.82 +6.98/+0.64%
HNX-INDEX 226.56 +0.53/+0.23%
UPCOM-INDEX 84.11 +0.15/+0.18%
Tra fish exports predicted to recover from third quarter
Vietnamnews - 3/16/2023 10:45:45 AM
 (0 ratings. You must sign in to rate.)
Thanks to better input material supply and the application of a closed production process, the tra fish industry is expected to overcome difficulties and become profitable again in the third quarter of this year, according to analysts.
Data from the Việt Nam Association of Seafood Exporters and Producers (VASEP) showed that in the first two months of this year, revenue from seafood export topped US$1.1 billion, down 26 per cent year on year, with tra fish exports dropping 38 per cent to $240 million.
According to Vietcombank Securities Limited Company (VCBS), the demand for tra fish plummeted from the fourth quarter of last year after positive signs at the beginning of the year. A fall of 20-30 per cent was seen in the production and export revenue of the product from last November due to high inventories and inflation in importing countries.
The downturn trend continued in the first month of 2023, with respective falls of 51 and 60 per cent over the same period last year.
However, tra fish exports increased slightly at 4 per cent in February to $662 million. But the VCBS predicted that tra fish demand would continue to decrease in the majority of the markets until the third quarter when festive events at year-end come and the Chinese market is opening.
While high feed prices and extreme weather conditions are affecting small-scale farms, large-scale businesses are eying great opportunities to expand their market share thanks to their self-supply of input materials and the application of a closed production process, according to the VCBS.
The VCBS reported that in 2022, tra fish exports hit a record of $2.44 billion despite the high feed price. In the year, strong growth of at least 30 per cent was seen in tra fish export revenue generated from the majority of the markets, especially some Middle East countries at 115-429 per cent.
The firm held that 2023 would still be a good year for businesses that could promote their advantages in material supply.
Exporters held that after a long period of decline in revenue due to low tra fish prices in the first half of this year, domestic exporters would enjoy recovery in the third quarter. VNS
Read original article here
Newer News
03/06 May data shows Viet Nam still has long way to go: HSBC
03/06 Việt Nam’s exports to hit US$618 billion by 2030 at 7 per cent annual growth
03/06 VN's manufacturing sector experienced third consecutive decline in three months
30/05 CPI rose slightly by 0.01 per cent in May
30/05 Việt Nam invests over US$316 million abroad in five months
30/05 Việt Nam is South Korea's 4th largest rubber supplier
23/05 Timber exporters face a sharp decline in orders
19/05 FDI sector posts trade surplus of over US$14 billion in four months
19/05 PM urges solutions to prevent electricity shortage during summer peak
11/05 Meat producers forecast to see more positive results
Older News
16/03 High cost of construction materials puts pressure on Việt Nam's construction industry
16/03 KADIN President: ASEAN strengthens connectivity to promote sustainable growth
11/03 Falling price of fertiliser causes headaches for producers
11/03 Government asked to devise 50 per cent cut on auto registration fee
10/03 China's reopening good news for Vietnamese exporters
09/03 Hà Nội develops policies to lure foreign investment
09/03 State revenue from exports-imports down 19% in first two months
08/03 Export prices of Vietnamese rice up nearly 10 per cent
08/03 PM praises Japan's contributions to Việt Nam's growth
06/03 Vietnam’s overseas investments rise sharply in January-February
Newsletter Signup
Top Stories
Stock, real estate markets to become more attractive thanks to low interest rates
CPI rose slightly by 0.01 per cent in May
Bad debts running rampant in construction sector
Bank deposit interest rates keep falling
Airlines look to capitalise on thriving demand
Market Update
Last updated at 3:05:03 PM
VN-INDEX 1,097.82 +6.98/+0.64%
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.