December 26, 2023

Vietnamese fisheries industry aims for US$9.5 billion aquaculture export target in 2024

The Vietnamese fisheries industry unveiled its goal to generate US$9.5 billion from exporting aquaculture products in 2024, Vietnam Net Global reported.

Tran Dinh Luan, general director of Vietnam's Department of Fisheries, outlined the projections, estimating a total aquaculture output of approximately 9.22 million tonnes for the coming year.

Luan emphasised the sector's strategic approach, focusing on strengthening business ties within the seafood value chain, addressing market challenges for key products, and persistently shifting towards sustainable practices. The industry aims to reduce fishing activities, enhance aquaculture, and develop the maritime economy in response to climate change, ultimately improving the competitiveness of seafood products.

Nhu Van Can, vice general director of Vietnam's Department of Fisheries, provided insights into the current state of the industry. The total fishery output for 2023 is estimated to exceed 9.2 million tonnes, reflecting a 2% increase compared to 2022. This includes outputs from both exploitation (3.86 million tonnes) and aquaculture (5.4 million tonnes).

While the aquaculture export revenue for the year is estimated at $9.2 billion, equivalent to 92% of the target, the shrimp sector stands out as the primary contributor. Shrimp exports accounted for approximately $3.45 billion, followed by tra fish (US$1.9 billion), molluscs (US$0.8 billion), and tuna (US$0.9 billion).

Duong Long Tri, vice secretary of the Vietnam Fisheries Association, said it is important to increase aquaculture output while reducing fishing activities. He stressed the need for effective processing solutions to enhance the value of key products and promote export turnover.

-      Vietnam Net Global