Shrimp exporters in Mekong Delta face challenges amid Covid-19 epidemic

Shrimp is a key export item of many provinces in the Cuu Long (Mekong) River Delta, but the Covid-19 epidemic has caused challenges for exporters.

Shrimp exporters in Mekong Delta face challenges amid Covid-19 epidemic

Workers process shrimp at a factory in the Mekong Delta province of Ca Mau. — Photo tuoitre.vn

In the delta region, Ca Mau and Bac Lieu are the top two provinces in shrimp export volume.

According to Bac Lieu Province's Department of Industry and Trade, the province’s shrimp export revenue in January reached US$62 million, a year-on-year increase of 9 per cent.

Ca Mau Province earned $58 million in shrimp exports in January, an increase of 8 per cent over the same period last year, the Ca Mau Association of Seafood Exporters and Producers (CASEP) has said.

Tran Hoang Em, general secretary of CASEP, said the province had over $1.15 billion last year in shrimp exports. Of the figure, exports to China were worth $102 million last year, accounting for 6-7 per cent of total exports, and nearly $7 million in January.

But due to the impact of the Covid-19 epidemic, many Chinese importers have told Vietnamese seafood exporters to suspend deliveries, he said.

The Ca Mau Department of Industry and Trade recently visited six seafood export companies in the province and discovered that seafood exports to China via border trade had faced problems, but exporting by waterway had not been affected much.

The buying volume from Chinese importers has also decreased due to transport restrictions, causing difficulties for enterprises in distributing the products.

According to the departments of Industry and Trade of localities in the region, if the epidemic continues for a prolonged period, it will cause adverse impacts on local exporters, including a high risk of cancellation of orders from importers.

If exporters face difficulties, they will reduce purchases of shrimp materials from farmers, resulting in a lower shrimp price and affecting farmers’ income, they said.

 

Nguyen Viet Trung, head of commercial management division under the Ca Mau Department of Industry and Trade, said the department would keep a close eye on the epidemic situation and inform enterprises in a timely manner so they can come up with appropriate business plans.

They will also coordinate with relevant agencies to untie difficulties faced by exporters, especially in terms of capital.

Bac Lieu Province will also have measures to support enterprises in production and export, and will strive to ensure sufficient material shrimp output for processing as well as the quality and traceability of the shrimp.

"Businesses need to boost exports to other markets rather than focus on the Chinese market amid the Covid-19 epidemic," Trung said. “In addition, local firms should take advantage of the EU-Viet Nam Free Trade Agreement, which will come into effect this year, to promote shrimp exports to the market.”

The Bac Lieu Department of Industry and Trade said it expected that the export of frozen shrimp to Australia and other markets would increase in the coming time.

The Viet Nam Association of Seafood Exporters and Producers said that EU shrimp imports accounts for 31 per cent of the world’s total shrimp imports.

When the FTA comes into effect, local exporters will have a great opportunity to boost exports thanks to lower tariff duties. But to benefit from the FTA, Vietnamese shrimp products must meet requirements prescribed under the trade agreement, the association said. — VNS

Mekong Delta aims for sustainable shrimp production at high profits

Mekong Delta aims for sustainable shrimp production at high profits

Provinces in the Mekong Delta, the country's largest shrimp producer, are increasing their shrimp output this year and focusing on developing sustainable shrimp farming models that bring high profits.

Vietnam to promote shrimp exports to EU next year

Vietnam to promote shrimp exports to EU next year

The EU is a potential market for Viet Nam's shrimp industry next year because it is the largest shrimp market in the world, while the shrimp production of this bloc has not met its demand, according to domestic seafood experts.  

 
 

Other News

.
EVFTA expected to give a lift to real estate sector
EVFTA expected to give a lift to real estate sector
BUSINESSicon  06/07/2020 

Many segments of the real estate market are soon expected to benefit from the EU-Vietnam Free Trade Agreement, which takes effect in August.

American groups make progress across Vietnam
American groups make progress across Vietnam
BUSINESSicon  06/07/2020 

Vietnam, as one of the fastest-growing economies in the ASEAN bloc, is becoming more appealing to American investors.

A dynamic and powerful ASEAN from the German perspective
A dynamic and powerful ASEAN from the German perspective
BUSINESSicon  06/07/2020 

Possessing key features that represent a snapshot of one of the most diverse, fastest-growing, and competitive regions, the ASEAN is an attractive economic region for not only German enterprises but also other European ones to invest in. 

Delving into specifics of amended business laws
Delving into specifics of amended business laws
BUSINESSicon  06/07/2020 

Businesses and investors are expected to access new positive changes when the amended Law on Investment and the amended Law on Enterprises take effect from January 1 next year.

Rays of sunshine in aviation clouds
Rays of sunshine in aviation clouds
BUSINESSicon  06/07/2020 

Amid serious impacts of COVID-19, there are hopeful points for the aviation sector on the back of the EU-Vietnam Free Trade Agreement.

Trade kickstart with distinctive solutions
Trade kickstart with distinctive solutions
BUSINESSicon  06/07/2020 

Vietnam is boosting its diplomatic activities in hope of attracting more investment and expanding its trade in the global market, with many of the country’s major partners about to open their doors to the world again.

EuroCham proposes Gov’t to cut 50 per cent of registration fee for imported cars
EuroCham proposes Gov’t to cut 50 per cent of registration fee for imported cars
BUSINESSicon  06/07/2020 

The European Chamber of Commerce in Vietnam (EuroCham) proposed the Government to apply the 50 percent registration fee reduction to all automotive assembly firms, importers and dealers of new vehicles.

Shares to correct amid lack of positive news
Shares to correct amid lack of positive news
BUSINESSicon  06/07/2020 

The benchmark VN-Index on the Ho Ch Minh Stock Exchange (HoSE) gained 0.62 per cent to close Friday at 847.61 points.

P2P firms in Vietnam waiting for a sandbox
P2P firms in Vietnam waiting for a sandbox
BUSINESSicon  06/07/2020 

Peer-to-peer (P2P) lending companies expect that the sandbox for fintech would eliminate unscrupulous businesses and help the market grow significantly.

Business outlook gloomy for firms based in Old Quarter of Hanoi
Business outlook gloomy for firms based in Old Quarter of Hanoi
BUSINESSicon  06/07/2020 

Many business owners in Hanoi’s famous Old Quarter are becoming increasingly concerned about the decline in customers, causing their revenue to sharply decrease, and resulting in many stores closing their doors following COVID-19 epidemic.

Auto dealers deemed main beneficiaries of registration fee cut
Auto dealers deemed main beneficiaries of registration fee cut
BUSINESSicon  05/07/2020 

Auto dealers have proved to be the biggest beneficiaries of the Government's move to introduce a 50% cut in car registration fees, and not car buyers, as expected, 

Nine more expressway contractors suspected of construction violations
Nine more expressway contractors suspected of construction violations
BUSINESSicon  05/07/2020 

Nine more former contractors have been accused of irregularities in the construction of a 139-kilometer-long expressway whose severe deteriotion was reported shortly after its opening in central Vietnam.

VASEP decries taxes on semi-processed and processed seafood
VASEP decries taxes on semi-processed and processed seafood
BUSINESSicon  05/07/2020 

Tax agencies have slapped many firms with a corporate income tax on semi-processed seafood products at 20%, while their products for exports or domestic consumption that are mainly processed, 

Domestic property market faces uncertainty
Domestic property market faces uncertainty
BUSINESSicon  05/07/2020 

The domestic real estate market is hoped to have growth in the fourth quarter of this year and before the Lunar New Year 2021 if, by this year-end, the domestic economy is restored to levels from before the COVID-19 pandemic.

Hanoi moves towards approving construction of third Aeon Mall
Hanoi moves towards approving construction of third Aeon Mall
BUSINESSicon  05/07/2020 

The proposed construction of a parking lot and the Aeon Mall Hoang Mai Trade centre will soon be decided upon by the Hanoi People's Committee as Prime Minister Nguyen Xuan Phuc has approved the adjustment of the city's construction planning.

Pork and oil prices key to keeping inflation in VN under control: experts
Pork and oil prices key to keeping inflation in VN under control: experts
BUSINESSicon  05/07/2020 

With huge inflation pressure on the way in the remaining months of this year, a close watch must be kept on the prices of key products like oil and pork to hit the goal of keeping inflation below 4 per cent, experts have said.

EVFTA, plus Vietnam's COVID-19 success, to help attract more FDI: experts
EVFTA, plus Vietnam's COVID-19 success, to help attract more FDI: experts
BUSINESSicon  07/07/2020 

The country's great achievement of containing the spread of COVID-19, plus the EVFTA (EU-Vietnam Free Trade Agreement), will help Vietnam attract more FDI.

Prices of luxury cars from Europe will not go down immediately
Prices of luxury cars from Europe will not go down immediately
BUSINESSicon  06/07/2020 

The import tariff on European car imports will be decreasing gradually by 7 percent per annum. It will take at least five years to see considerable price decreases.

US firms create record 4.8 million jobs in June
US firms create record 4.8 million jobs in June
BUSINESSicon  03/07/2020 

The reopening of businesses has spurred job growth but a rise in Covid-19 cases may hamper recovery.

Chubb Life Vietnam honored “Best Companies to Work for in Asia 2020”
Chubb Life Vietnam honored “Best Companies to Work for in Asia 2020”
BUSINESSicon  03/07/2020 

Chubb Life Vietnam has been recognized as one of the “Best Companies to Work for in Asia 2020” by HR Asia, the continent’s leading publication for Human Resources professionals.

 
 
 
Leave your comment on an article

OR QUICK LOGIN