Seafood exporters in Vietnam are not too worried thoughimport demand for their products has taken a hit due to the coronavirusdisease (COVID-19).
While Vietnam's seafood exports see a drop due to COVID-19, exporters are not too
worried about the situation - Photo: VNA
According to the Vietnam Association of SeafoodExporters and Producers (VASEP), seafood exports to China by land accountfor around 20 percent of total value, and so the border closure hasheavily impacted exports in the first quarter.
VASEP forecast that in the best case, seafood exports toChina in the first quarter would be 40 percent lower than in the last quarterof last year though still 10 percent higher year-on-year.
If the disease persists for a long time, full-year export toChina could see a 6 percent drop, it warned.
But Truong Dinh Hoe, general secretary of VASEP, said thedisease's impact on exports in the first few months of the year had not beentoo drastic, and China's seafood imports usually pick up after March or April.
Doan Chi Thien, a management board member at Nam VietCorporation, said the Lunar New Year holiday was extended until February 9 inmost of China’s provinces, and so businesses were unable to export sharkcatfish to them.
While shark catfish exports to China are expected to take abig hit, it is only temporary, while other markets are importing the productnormally, with ones like South America and Europe in fact increasing shipments,according to Thien.
His company has been focusing on diversifying its markets andreducing dependence on only one market, he added.
Pham Thanh Tung of seafood supplier Vinh Hoan Corporationsaid his company hoped demand would pick up in the second quarter, adding thatit had already been working on expanding its markets.