“Over-dependence on an import or export market is a risk factor that cannot be underestimated. If there is a downward movement or a restriction from that market, stagnant movement of goods will cause serious damage to the business.” Seeking and conquering new markets is a mission and responsibility of any business. International Development and Investment Corporation (IDI) has long considered the importance of this and has made entering new markets a top priority in its development strategy. The door of development has opened To do this, trade promotion is very important and IDI is very active with it. In particular, IDI has carried out a variety of product marketing programmes at international trade fairs and established and utilised multi-dimensional relationships. To date, IDI has dozens of strategic domestic and foreign partners and distributors and expanded … [Read more...]

Viet Nam News HÀ NỘI - Japan hasbecome the largest market for Vietnamese shrimps, accounting for 21.9 per cent of the country's shrimp export value in the first quarter of 2017. The Việt Nam Association of Seafood Exporters and Producers (VASEP) reported that in the first three months of this year, Việt Nam's shrimp exports to Japan reached US$135.4 million, a year-on-year increase of 29.6 per cent. The significant growth is because of the rise of the yen, which has encouraged Japanese enterprises to move to imported shrimp. Also, Japanese consumers tend to switch to cheaper seafood, which has increased the demand for shrimp as they are more affordable than other seafood such as tuna, salmon and squid. In the high-end market segment, the demand for giant tiger prawns and shrimps with head on is also rising. Earlier this year, the average price of Vietnamese shrimp exported to Japan was $12 per kilo, while Indonesia's rate was $11 and Thailand's $10. Although Việt Nam's average … [Read more...]

Viet Nam News HÀ NỘI - After skyrocketing to 10-year highs in April, tra fish price has shown signs of cooling down and is forecast to be more stable in the second half of this year. According to the Việt Nam Association of Seafood Exporters and Producers (VASEP), the price of raw tra fish in the Cửu Long (Mekong) River Delta is currently fluctuating at some VNĐ25,000-26,500 (US$1.2) per kilo, from a high of VNĐ29,000 in April. However, it was VNĐ2,500-3,000 per kilo higher than the same period last year. In the second half of this year, the increase in harvested fish and tra fish breeds will make up for the shortage, pushing down the price. According to a report of the Ministry of Agriculture and Rural Development, tra fish price in the region witnessed a significant rise from the beginning of this year due to a severe shortage in tra fish breeds and decrease in farming area. Statistics showed that tra fish farming area in Mekong River Delta region dropped by 16 per cent to … [Read more...]

VietNamNet Bridge - Though China is the biggest export market for Vietnam, most of the exports go through unofficial channels. VASEP has confirmed that China has outstripped the US to become Vietnam’s biggest catfish importer in the first quarter of 2017. China is also the biggest consumer of Vietnam’s rice and many other farm produce. VASEP said the demand from all Vietnam’s loyal markets decreased sharply in the first three months of the year. The US market, for example, decreased by 24.3 percent in comparison with the last year’s same period, while the EU fell 21.5 percent and ASEAN 10.8 percent. In the US market, Vietnam’s catfish had to bear anti-dumping duties and competition and hindrance from CFA (Catfish Farmers of America). In the EU market, exports met with media campaigns smearing Vietnam’s catfish. In addition, the euro/dollar exchange rate fluctuations have also led to the sharp fall in catfish exports to the market.In the EU … [Read more...]

Viet Nam News HÀ NỘI - The Government will likely ease the requirement for seafood enterprises to submit declarations of conformity with food safety regulations, officials said at a conference on Saturday. The conference was held by the ministries of Health, Industry and Trade and the Natural Resources and Environment, the Việt Nam Association of Seafood Exporters and Producers (VASEP) and local seafood companies. It was designed to resolve issues rising from the implementation of an April 2012 decree on the Food Safety Law for food producers in Việt Nam. At the conference, VASEP proposed the Government remove the requirement on declaration of conformity with technical and food safety regulations as it takes seafood firms 15 days to complete the required procedure, which is too long and costly. In addition, the requirement is not included in the Food Safety Law, therefore, the firms should not have to comply with it, VASEP said. Deputy Minister of Health Trương Quốc Cường said … [Read more...]

VietNamNet Bridge - Never before has Vietnam’s shrimp industry met such difficulties, as technical barriers have been used in large importing markets. In the last 15 years, shrimp exports have played an important role in Vietnam’s seafood industry development. If shrimp exports go smoothly, seafood exports will increase. In 2002, Vietnam’s seafood export turnover for the first time exceeded the $2 billion threshold, while shrimp accounted for 48 percent of total exports, bringing $966 million. In 2014, when Vietnam exported $7.9 billion worth of seafood products, shrimp brought $4 billion.In 2002, Vietnam’s seafood export turnover for the first time exceeded the $2 billion threshold, while shrimp accounted for 48 percent of total exports, bringing $966 million. In 2015-2016, as shrimp exports met difficulties, Vietnam’s seafood export turnover hovered around $7 billion. In 2016, shrimp brought $3.1 billion to Vietnam, or 45 percent of total seafood … [Read more...]

Viet Nam News HÀ NỘI - Tra (pangasius) fish prices skyrocketed last month, reaching a 10-year high, but experts warn that export of this seafood product could be unstable this year. They said measures should be taken to restore declining imports to major markets like the United States and Europe, counter misinformation about the local seafood industry, and create a national brand with quality products. In the Cửu Long (Mekong) Delta provinces, tra fish prices surged by VNĐ4,000-7,000 (20-27 US cent) per kilo over last year to VNĐ24,000-29,000. At these prices, it is estimated that farmers can earn profits of VNĐ1.5-1.7 million per tonne. Meanwhile, the prices of tra fish breeds climbed to VNĐ50,000-60,000 per kilo in late April and early May, VNĐ20,000 higher than early April, a threefold year-on-year increase. According to the Việt Nam Association of Seafood Exporters and Producers (VASEP), tra fish prices in the Asian market averaged $2.3 per kg in January and rise $2.7 per kg … [Read more...]

U.S. extends anti-dumping duty on Vietnam shrimp Trung Chanh CAN THO – The U.S. International Trade Commission (ITC) has decided to extend the anti-dumping duty on shrimp imports from Vietnam for five more years. The ITC voted unanimously to remove the anti-dumping duty on frozen warmwater shrimp from Brazil on May 2 but supported the U.S. shrimp industry’s request to extend the anti-dumping duties on shrimp imports from China, India, Thailand, and Vietnam in the next five years. It said in a statement that the revocation of the existing anti-dumping duty orders could lead to continuation or recurrence of material injury within a reasonably foreseeable time. Vietnam’s shrimp export sector must prove that it is causing no injury for American shrimp farmers if it wants the U.S. government to revoke the anti-dumping duty on its frozen warmwater shrimp, Truong Dinh Hoe, general secretary of the Vietnam Association of Seafood Exporters and Producers (VASEP), told the … [Read more...]

The United States International Trade Commission (USITC) voted to extend anti-dumping duties on the import of frozen warmwater shrimp for five more years on Tuesday. As a result, existing duties on the import of shrimp products from Viet Nam, China, Thailand and India will remain for another five years. Only Brazilian shrimp exports are fortunate to overcome this "barrier." "The revoking of the existing anti-dumping duty orders on the import of frozen warmwater shrimp from China, India, Thailand and Viet Nam would likely lead to continuation or recurrence of material injury within a reasonably foreseeable time," according to an official statement of the commission. This verdict is the outcome of the second five-year sunset review asking the United States’ Department of Commerce (DoC) to revoke an anti-dumping or countervailing duty. USITC’s decision has provoked different reactions. Southern Shrimp Alliance’s executive director John Williams praised ITC’s … [Read more...]

Viet Nam News HÀ NỘI - The United States International Trade Commission (USITC) voted to extend anti-dumping duties on the import of frozen warmwater shrimp for five more years on Tuesday. As a result, existing duties on the import of shrimp products from Việt Nam, China, Thailand and India will remain for another five years. Only Brazilian shrimp exports are fortunate to overcome this "barrier." "The revoking of the existing anti-dumping dutyorders on the import of frozen warmwater shrimp from China, India, Thailand and Việt Nam would likely lead to continuation or recurrence of material injury within a reasonably foreseeable time," according to an official statement of the commission. This verdict is the outcome of the second five-year sunset review asking the United States' Department of Commerce (DoC) to revoke an anti-dumping or countervailing duty. USITC's decision has provoked different reactions. Southern Shrimp Alliance's executive director John Williams praised ITC's … [Read more...]

Environmental monitoring station to be built next to Lee & Man Paper Mill Trung Chanh CAN THO – Fretting over the impacts of wastewater discharged from the Lee & Man Vietnam paper mill project on the aquaculture production of local people, Hau Giang Province will build an environmental monitoring station next to the project. Nguyen Van Dong, director of the Department of Agriculture and Rural Development of Hau Giang Province, told the Daily that the station will be located in Mai Dam canal near Lee & Man paper mill and its construction is scheduled to get started in May this year. According to the Fisheries Law and Circular No. 32 of the Ministry of Agriculture and Rural Development, each locality must have at least one environmental monitoring station for aquaculture production. However, Hau Giang Province still has no such station for its aquaculture area of 1,500 hectares. After completion, the station will measure 14 indicators as regulated by the Directorate … [Read more...]

Shrimp exports post low growth Cholimex to invest in high-tech shrimp farming in HCMC By Sao Mai and Ngoc Hung - The Saigon Times Daily HCMC – As of March 15, shrimp exports posted a modest year-on-year growth rate of 4.5%, much lower than the growth rates of other key seafood items, according to Vietnam Association of Seafood Exporters and Producers (VASEP). VASEP said tuna and tra fish exports surged by 23.1% and 15.2% year-on-year respectively in January- March. Meanwhile, shrimp exports as the key item in Vietnam’s fisheries lagged behind, or even contracted 2.4% in the first half of March. VASEP attributed the shrimp export slowdown to a drop in consumption demand for shrimp in big markets. Shrimp exports to EU dropped by 21%, while exports to Canada went down 6.1% and the U.S. fell 1%. Given global economic uncertainty, low purchasing power in major markets namely the EU and the U.S. has dragged down export prices. As of end-March, the price of white-legged shrimp … [Read more...]

Seafood service firms dominate Vietfish 2014 Ngoc Hung By Ngoc Hung - The Saigon Times Daily HCMC – The number of firms providing services and equipment for the seafood sector make up 65% of 173 corporate exhibitors at the ongoing Vietnam Fisheries International Exhibition 2014 (Vietfish 2014) in HCMC. The Vietnam Association of Seafood Exporters and Producers (VASEP), the organizer of Vietfish 2014, said there are more seafood service providers than in previous years. Seafood processors and exporters are other exhibitors at the event, which opened at the Saigon Exhibition and Convention Center (SECC) in District 7 on August 6. The 16th exhibition is attended by many big local and foreign companies, including from Japan, the United States, Belgium, China and South Korea. Truong Dinh Hoe, general secretary of VASEP, said Vietfish 2014 showcases various seafood products and services as well as equipment and technology for cold storage of seafood. Pham Anh Tuan, deputy head of … [Read more...]

Vietnam is due to officially join the World Trade Organisation (WTO) on November 7. However, what is next after that? In fact, all information collected from bilateral and multi-lateral negotiations so far is too common to be of much help to Vietnamese enterprises in building their own business strategies. If Vietnamese management agencies and enterprises only rely on basic WTO rules, they will have to make a drastic change in their operations and competitive activities, which requires not only their concerted efforts but also great support from international organisations. Currently, there are 20 donors with some 50 projects which provide different forms of trade support for Vietnam in its WTO accession process. The team leader of the Multilateral Trade Assistance Project, Dr Peter Naray, says the first challenge for Vietnam in its post WTO accession period is that the country will have to fully implement its commitments. Some areas which are considered to be difficult for Vietnam to … [Read more...]

Dung made the statement at a press briefing in Hanoi on December 7. He asked the WWF to reconsider its member organisations’ decision and publicise the criteria for placing Tra fish on the Red List, as well as correcting the false information supplied to European consumers. According to Intrafish, WWF member organisations in Germany, Austria, Switzerland, Belgium, Norway and Denmark have moved a number of Vietnam’s Tra fish products from the Orange List (products can be considered for use) to the Red List (products should not be used) in their 2010-2011 consumer guidance manual for the six EU countries. This is based on a recent survey conducted by an independent consultancy company hired by the WWF members in these countries to analyse over 100 aquatic species from all over the world under the newly-amended WWF criteria on sustainable development. The VASEP is worried that the incorrect assessment, which lacks scientific evidence, by some WWF member organizations will … [Read more...]

The WWF has come up with recommendations on fields of its concern which have won the applause of the international community for years. However, the organisation’s decision to place Vietnam’s Tra fish on the Red List of its 2010 seafood consumption report, in which consumers in the world were advised to choose other seafood products instead of Vietnam’s Tra fish, was questionable. Deputy Director of the Directorate of Fisheries Pham Anh Tuan said, “The WWF’s information is insufficient as the fund used one sided and incorrect standards and scientific bases. This would cause many difficulties for Vietnam’s tra raising industry and would adversely affect global consumer trends,” Tra fish products are known as a special food of the Mekong River Delta in Vietnam. Being favored by nature, Vietnamese farmers have developed the Tra fish raising and processing industry for highly valued products. It has been expanded from a small-scale industry to a … [Read more...]

This was announced by the Ministry of Industry and Trade (MoIT) at a meeting in Hanoi on May 26. A hike in price and volume The country’s total export revenue in May was estimated to reach US$7.5 billion, an increase of 18.8 percent over the same month of last year. Exports of agricultural products including seafood, coffee and rice grew both in value and quantity. Last year the State had to keep coffee in stock because of price fluctuations. But thanks to the close cooperation between the State and businesses the prices of coffee have continued to go up since early this year, said Deputy Minister of Industry and Trade Nguyen Thanh Bien. In the mean time, he added, the total export value of tea, cashew nuts and peppers has increased by 50 percent over last year. Export earnings from seafood, garment and textiles and footwear to the European Union have also increased, while crude oil exports to the Oceania market have dropped remarkably. With nearly 70 percent of the total … [Read more...]

The four-day event involves more than 2,500 companies from 66 nations and territories and is expected to attract 75,000 visitors. Around 14 Vietnamese businesses will display a range of products including seafood and farm produce, processed rice food, specialty Phu Quoc fish sauce, and different varieties of confectionery and beverages. Trade Promotion Centre for Agriculture Director Dao Van Ho said enabling Vietnamese businesses to participate in the event aimsto help them develop relations with Japanese partners and importers, negotiate and potenitally sign export contracts, and advertise Vietnam’s farm produce, seafood, and culinary culture. The event is part activities honouring 40th years of the two countries’ diplomatic ties. Maple Foods Limited Japanese Director Tetsuji Totsune said his company has established a history of cooperation with the Vietnam Association of Seafood Exporters and Producers (VASEP) over the past 25 years. He expressed his desire to import … [Read more...]

In its recent annual administrative review, the US department chose Indonesia as a benchmark country to calculate anti-dumping margins on Vietnam’s frozen fish fillet exports instead of Bangladesh which is used for the calculations seven times previously. Accordingly, the new tax rates were adjusted to increase more than 10 times, from just several cents per kilo to several dollars per kilo. The VASEP expressed its indignation over the DOC’s sudden benchmark country replacement and claimed the US decision was unreasonable. According to the VASEP, the DOC relied on the Indonesian government’s study of its Tra fish prices based on information from just several localities of the country, resulting wider margins. In the previous seven administrative reviews, Indonesia was not chosen as a model for tax calculations as it had no sufficient pricing and financial data. In fact, Indonesia imports frozen Tra fillets, mainly from Vietnam, and it does not export Tra fish … [Read more...]

However, its growth also causes concerns – a drop in tuna quality has resulted in a sharp fall in price. According to the Vietnam Association of Seafood Exporters and Producers (VASEP), since the beginning of this year the US has imported US$57 million worth of Vietnamese tuna, an increase of 3 percent from the same period last year. It is followed by the European Union with US$32 million (up 37 percent) and ASEAN with US$9.4 million (up 81 percent). Nevertheless, despite the high output, the quality of tuna is being threatened by an increasing number of fishermen using high pressure lamps to reduce costs and increase productivity. As a result, tuna prices have seen a continuous decline over the past months, from VND60,000-VND65,000 (US$3) per kilo to VND50,000-VND55,000. Meanwhile, increases in the prices of fuel, ice and other necessities raise fishing costs from VND150 million (US$7,200) to VND170 million for a month-long fishing trip. Low incomes have made many fishermen … [Read more...]