Seafood exports to China could recover in the second half of the year after falling in the first half due to tightened regulations there.
Demand for seafood is set to rise in China, especially for high-quality products, which could mean Vietnam’s $572-million exports in the first half would double to $1.2 billion for the year, the Vietnam Association of Seafood Exporters and Producers (VASEP) said in a new report.
There was a 2.3 percent decrease in the first six months year-on-year given China’s new border quality control policy.
Vietnamese exporters struggled to meet China’s tough new food safety standards due to a lack of knowledge, leading to a decline in shipments, VASEP said.
China is one of Vietnam’s most important seafood markets. Over 150 Vietnamese businesses export to the country, 50 of them shrimp and 45 of them pangasius fish.
VASEP said earlier that Vietnam’s overall seafood exports this year would only rise by 2 percent to $9 billion against a target of $10 billion.
Vietnam ranks among the top ten seafood producers in the world, according to the U.N. Food and Agriculture Organization.