Tra fish exports to ASEAN countries were estimated at over 152 million USD in the first nine months of 2022, accounting for nearly 8% of the total, according to VASEP.
Source: Tong cuc Thuy san
Tra fish exports to member countries of the Association of Southeast Asian Nations (ASEAN) have been rising sharply, and this market is forecast to surpass the European Union in terms of catfish imports from Vietnam in the near future, the Cong Thuong newspaper reported.
Tra fish exports to ASEAN countries were estimated at over 152 million USD in the first nine months of 2022, accounting for nearly 8% of the total, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).
Thanks to strong and continuous growth in recent years, shipments to ASEAN currently approximate those to the EU.
The Philippines, Thailand, and Singapore are the biggest ASEAN importers of Vietnamese tra fish at present.
Exports to the Philippines increased five-fold in September, contributing to a jump of 92% to exceed 25 million USD in nine months – equivalent to 1.3% of total tra fish exports.
Thailand makes up 3.6% of Vietnam’s total tra fish exports. By the end of the third quarter, the revenue topped 70 million USD, surging 81% year on year. It shot up 165% in September alone.
Meanwhile, Singapore imported over 28 million USD worth of tra fish from Vietnam between January and September, up 56% from a year earlier. The shipments rose by over three times in September.
To Malaysia, the nine-month turnover exceeded 26 million USD, up 114%. It also rocketed by 138% in September.
Other ASEAN members like Cambodia, Indonesia, and Laos are also increasing imports of Vietnamese tra fish, with exports to those destinations growing by three- to 23-fold from the same period last year.
Soaring transportation costs so far this year is a disadvantage for the tra fish sector since this commodity doesn’t have as high prices as other fishery products. Therefore, markets in close proximity like ASEAN countries are a better pathway for Vietnamese exports.