10:28 | 09/04/2015 Trade
China has emerged as a major importer of Vietnamese tra fish and other aquaculture products lagging behind the US, Middle East and EU – and its market share has been forecast to hit 10% in 2015.
Vietnam Tra Fish Association Vice Chairman Vo Hung Dung made the revelation at a press briefing on April 7 at which he announced that in the two months leading up to March of this year, China’s market share had expanded to more than 8%.
China is a large lucrative market for the Vietnamese aquaculture industry due to its close proximity, which results in ready access by land or sea, reduced transport costs and less spoilage.
However, he cautioned that Vietnamese fish farmers will find it difficult to break into this volatile market as prices fluctuate wildly and customs procedures at the border gates are unpredictable.
It is going to take a coordinated effort by the association, its members and other interested parties to successfully break into the market and develop the high quality Made-in-Vietnam brand, Dung concluded.
Source VOV News