Vietnamese shutchi catfish exports surge, especially to Nordic markets

          The EU-Vietnam Free Trade Agreement (EVFTA) and EU’s growing demand for seafood have provided Vietnam with major opportunities to increase its exports.

          Le Hoang Tai, deputy director of the Vietnam Trade Promotion Agency under the Ministry of Industry and Trade, said the EU has been one of Vietnam’s leading seafood export markets over the years.

          Under the EVFTA, among about 220 tariff lines of fishery products with rates ranging from zero to 22 percent, most of those in the high range of 6-22 percent were reduced to zero percent immediately after the trade deal took effect in 2020. The remaining tax lines will be phased out within 3-7 years.

          Tai said Vietnam’s seafood exports reached US$2.4 billion in the first quarter of the year, an increase of 40 percent compared to a year ago. After two consecutive years of decline, Vietnam’s shutchi catfish and shrimp exports to the EU surged by nearly 76 percent and 66 percent in the first two months of the year, reaching US$28 million and US$159 million, respectively.

          Vietnamese Trade Counselor in Sweden, Denmark, Norway, Iceland and Latvia Nguyen Thi Hoang Thuy said Vietnamese shutchi catfish is most consumed in Nordic countries. However, shutchi catfish exports to the market remain modest due to geographical distance. She explained that shutchi catfish is imported to the European market by container ships in the form of frozen fillets. Importers sell the products directly to the market, or increase added-value before bringing them to the market.

Post a Comment