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    Home > Food News > Food Articles > Vietnam's seafood export earnings in the second half of the year may be lower than expected

    Vietnam's seafood export earnings in the second half of the year may be lower than expected

    • Last Update: 2021-08-27
    • Source: Internet
    • Author: User
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    From SeafoodNews August 19 news, the new crown virus pandemic and from the European Union under the illegal unreported and unregulated (IUU) fishing yellow card background, Vietnamese seafood exports may not see signs of improvement in the second half of 2021
    .
     
    Since May 2021, the outbreak of the new crown virus in Ho Chi Minh City and the Mekong Delta has affected the production, processing and export of seafood due to measures such as isolation and social distancing
    .
    It is expected that the export of aquatic products will continue to be sluggish in the second half of 2021
    .
     
    Under ideal circumstances, that is, the epidemic is alleviated and effectively controlled within three months, the monthly growth will still be only 6%-8%
    .
    By the end of this year, seafood exports may reach 9 billion U.
    S.
    dollars
    .
    In the worst case scenario, that is, the epidemic lasts longer, China continues to strengthen its control on the import of frozen seafood, and the export value may only be about US$8.
    8 billion
    .
     
      Regarding the yellow cards from the European Union, Vietnam has been working hard to control IUU fishing since 2017
    .
    The government and the entire Vietnamese fishing industry have been working hard to meet the EU's proposal to cancel the yellow card
    .
    However, despite the EU’s appreciation for Vietnam’s efforts, it has not cancelled the yellow card
    .
     
      From 2017 to 2019, since the issuance of the yellow card, the value of Vietnam's seafood exports to the EU has fallen by 12%, or US$183.
    3 million
    .
    The total seafood exports decreased by more than 10%, equivalent to 43 million U.
    S.
    dollars.
    Among them, cephalopods fell the most with 37%, bivalve molluscs fell by 11%, tuna fell by nearly 2%, and crabs fell by 11%
    .
    At the same time, from 2017 to 2019, exports of agricultural products to the EU also fell by 13%
    .
     
      Since 2018, the EU has dropped from Vietnam’s second largest exporter of seafood to fifth place, and currently ranks behind Japan, the United States, South Korea and ASEAN
    .
    From 2017 to 2019, the EU’s share of Vietnam’s total seafood exports fell from 15% to 11.
    6%
    .
     
      In 2020, Vietnam’s seafood exports to the EU were only US$959 million, a decrease of 5.
    7% from 2019
    .
    Virus EU seafood exports
     
      Since May 2021, the outbreak of the new crown virus in Ho Chi Minh City and the Mekong Delta has affected the production, processing and export of seafood due to measures such as isolation and social distancing
    .
    It is expected that the export of aquatic products will continue to be sluggish in the second half of 2021
    .
     
      Under ideal circumstances, that is, the epidemic is alleviated and effectively controlled within three months, the monthly growth will still be only 6%-8%
    .
    By the end of this year, seafood exports may reach 9 billion U.
    S.
    dollars
    .
    In the worst case scenario, that is, the epidemic lasts longer, China continues to strengthen its control on the import of frozen seafood, and the export value may only be about US$8.
    8 billion
    .
     
      Regarding the yellow cards from the European Union, Vietnam has been working hard to control IUU fishing since 2017
    .
    The government and the entire Vietnamese fishing industry have been working hard to meet the EU's proposal to cancel the yellow card
    .
    However, despite the EU’s appreciation for Vietnam’s efforts, it has not cancelled the yellow card
    .
     
      From 2017 to 2019, since the issuance of the yellow card, the value of Vietnam's seafood exports to the EU has fallen by 12%, or US$183.
    3 million
    .
    The total seafood exports decreased by more than 10%, equivalent to 43 million U.
    S.
    dollars.
    Among them, cephalopods fell the most with 37%, bivalve molluscs fell by 11%, tuna fell by nearly 2%, and crabs fell by 11%
    .
    At the same time, from 2017 to 2019, exports of agricultural products to the EU also fell by 13%
    .
     
      Since 2018, the EU has dropped from Vietnam’s second largest exporter of seafood to fifth place, and currently ranks behind Japan, the United States, South Korea and ASEAN
    .
    From 2017 to 2019, the EU’s share of Vietnam’s total seafood exports fell from 15% to 11.
    6%
    .
     
      In 2020, Vietnam’s seafood exports to the EU were only US$959 million, a decrease of 5.
    7% from 2019
    .
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