(People’s Daily) In view of the”Vietnam-UK Free Trade Agreement” (UKVTAFT) Vietnamese aquatic products are successfully sold to the UK, the export rice prices continue to hit new highs, and Vietnamese seafood will welcome opportunities in the Laos market. Vietnam exports from January 2 to 4 The main news of the event.
Vietnam export rice prices hit a nine-year high
According to Reuters, due to insufficient domestic supply, the price of 5%broken rice in Vietnam rose from US$500 per ton last week to US$500-505/ton on December 31, 2020. This is also the highest price since December 2011.
The reduction in supply and the continued purchase by the Philippines have brought the price of rice exported from Vietnam to the highest level in 9 years.
According to preliminary government data, Vietnam’s rice exports in 2020 are expected to drop by 3.5%to 6.15 million tons. However, the value of rice exports in 2020 is expected to increase by 9.3%, reaching US$3.07 billion.
In view of UKVTAFT, Vietnamese aquatic products are successfully sold to the UK
The UK has recently formally signed a free trade agreement with Vietnam. After UKVFTA takes effect, Vietnamese aquatic products will have more opportunities to export to the UK market, especially in the first few months of 2021.
Statistics from the Ministry of Industry and Trade of Vietnam show that as of the end of November 2020, seafood exports to the UK have increased by nearly 12%compared to the same period in 2019, reaching approximately US$322 million. Among them, shrimps, fish, crabs And marine fish are products that have achieved positive growth, especially Chayu has made a breakthrough in the structure of export categories. According to this, the processed products of the investigation fish have achieved good growth, which is more than 14 times higher than the same period in 2019, accounting for 33%of the total export of the investigation fish (only 3%in 2019).
Due to the impact of the new crown pneumonia epidemic, Vietnam’s high value-added processed products have and are gradually occupying the British market. Specifically, processed white leg shrimp increased by 33%, processed penaeus monodon increased by nearly 120%, canned crab increased by 61%, and frozen sea fish fillet increased by 127%.
So far, the UK market is one of the top ten seafood import markets in Vietnam, with a seafood export market share of over 4%in 2020 (1.03%in 2015).
Vietnamese seafood welcomes opportunities in the Laos market
After Laos announced that it temporarily banned the import of Thai seafood due to concerns about the spread of the new crown pneumonia epidemic, Lao aquatic products companies are quickly looking for new suppliers from Vietnam.
Looking for new import markets for Vietnamese seafood to enter the Laos market further. The question is how Vietnamese companies can seize this opportunity and come up with a reasonable way to enter so that Vietnamese seafood can compete with Thai seafood. (End)