Vietnamese seafood exports target niche markets
Vietnam’s seafood exporters are seeking ways to boost shipments to niche markets, as COVID-19 is disrupting supply chains, hindering logistics services and raising transportation costs.
Illustrative image (Source: VNA)According to the Vietnam Association of Seafood Exporters and Producers (VASEP), in August, Vietnam’s seafood exports to its key markets such as China, Japan, Germany, the Netherlands, Belgium, Denmark, and the UK reported year-on-year decreases of 35-45 percent.
In the contrary, impressive growth was seen in shipments to niche markets. Specifically, Vietnam’s seafood exports to Mexico rose by 72 percent, the Philippines 58 percent, Spain 48 percent, Egypt 38 percent and Portugal 14 percent.
At present, the value of exports to niche markets accounted for 8-10 percent of Vietnam’s total seafood export turnover./.
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