Japan has outpaced the US to become the largest consumer of Vietnamese seafood, although the export of these products to this market decreased by 11% to over US$310 million in the first quarter of 2023.
More than 90% of Tra fish (Pangasius hypophthalmus) available in the US market comes from Vietnam, said Vietnamese Trade Counsellor in the US Do Ngoc Hung citing statistics from the US Department of Agriculture (USDA).
The Ministry of Agriculture and Rural Development (MARD) has reported that Vietnam’s seafood export revenue in 2022 may reach US$11 billion, up 25 percent over 2021, the highest ever in 20 years.
The Vietnamese Ministry of Industry and Trade said the DOC is receiving applications for the POR19 on Vietnamese pangasius for the period from August 1, 2021 to July 31, 2022.
The business community is expecting the government to soon ease the existing credit ceiling for production enterprises so that they can escape from their cash-strapped plight and fuel economic growth.