Lobster exports to Chinese market skyrocket

Wednesday, 16/11/2022 17:30
Vietnamese lobster exports during the opening nine months of the year witnessed a seven-fold increase year on year to 179 million USD, with 90% generated from the Chinese market, a three-digit growth, reported VOV News.
Photo for illustration. (Source: VOV) 

According to the Vietnam Association of Seafood Exporters and Producers (VASEP), the spike in lobster exports can largely be attributed to high consumer demand coming from China.

The purchasing power of the aquatic product is anticipated to continue increasing in the remaining months of the year, particularly as Chinese consumers prepare for the traditional Lunar New Year holiday that falls in January 2023.

At present, the export of lobster makes up over 5% of the total shrimp export turnover.

Phu Yen and Nha Trang are home to largest lobster farms in Vietnam, with 90% of lobsters in these farming areas purchased by Chinese traders.

An enterprise operating in Ho Chi Minh City recently signed a contract to export fresh lobsters to Kunming in China, with the export volume set to reach 2,000 tonnes till April 2023.

The Ministry of Agriculture and Rural Development has formulated a project aimed at developing lobster farming and exports until 2025, with total farming output amounting to 3,000 tonnes per year and export value hitting 200 million USD annually.

Vietnam’s nine-month shrimp exports increased by 23% year on year to nearly 3.4 billion USD. However, the export of the product has shown signs of slowing down in the coming months.

Vietjet offers 150,000 vouchers for year-end festive season

 Vietjet aircraft (Photo: VNA)

Budget carrier Vietjet will give all customers 150,000  vouchers worth up to 500,000 VND (20.2 USD) applying for the entire flight network with flexible flight time in a move to welcome its 150 millionth passenger and the year-end festive season, reported Vietnam News Agency.

From November 16 until the end of January 31, 2023, passengers who book and pay successfully Vietjet’s flight tickets and register information at evoucher.vietjetair.com will have the opportunities to receive vouchers worth from 100,000 VND to 500,000 VND.

In addition, all customers will immediately receive a voucher worth 50,000 VND when having registration information to get vouchers. The e-vouchers are applicable on all routes covering Vietnam and internationally to India, Japan, the Republic of Korea, Kazakhstan, Indonesia, Thailand, Singapore, Malaysia, Taiwan, etc. with flexible flight time.

Information about terms and conditions of the voucher application is posted in detail at evoucher.vietjetair.com.

Vietjet is a fully-fledged member of International Air Transport Association (IATA) with the IATA Operational Safety Audit (IOSA) certificate.

As Vietnam’s largest private carrier, the airline was awarded the highest ranking for safety with 7 stars in 2018 and 2019 by the world’s only safety and product rating website airlineratings.com and listed as one of the world's 50 best airlines for healthy financing and operations by Airfinance Journal in 2018 and 2019. The airline has also been named as Best Low-Cost Carrier by renowned organizations such as Skytrax, CAPA, Airline Ratings, and many others.

Vietnam, Thailand look toward 25 billion USD in trade

A garment factory in Vietnam (Photo: VNA) 

The upcoming official visit to Thailand by President Nguyen Xuan Phuc and his attendance at the 29th APEC Economic Leaders’ Meeting in Bangkok from November 16-19 is expected to create a driving force to deepen bilateral ties and raise two-way trade, reported Vietnam News Agency.

In the first ten months of this year, two-way trade between Vietnam and Thailand hit 17.8 billion USD, up 22.8% annually. It is predicted to reach the target of 25 billion USD soon at this growth pace, according to the Ministry of Industry and Trade’s Department of Asia-Africa Markets.

The department said the two governments had established a Joint Trade Committee co-chaired by the Vietnamese Minister of Industry and Trade and the Thai Minister of Commerce to settle arising issues in economic and trade ties. The committee’s fourth meeting was held in April in Bangkok under the chair of the two ministers.

Vietnam, Thailand and other ASEAN members have also joined bilateral and multilateral deals like the ASEAN Trade in Goods Agreement, ASEAN’s free trade agreements with partner countries, particularly the Regional Comprehensive Economic Partnership – the world’s biggest free trade agreement that took effect in early 2022.

Since travel returned to normal following COVID-19, trade promotion activities like market survey trips, seminars, exhibitions and fairs have been held in-person.

Vietnam mainly exports manufactured and processed items to Thailand, which account for over 60% of Vietnam's total exports to the country, namely mobile phones and spare parts, machinery and equipment, computers, electronics and accessories, transport vehicles, metal products and apparel. Construction materials, especially iron and steel, are also Vietnam’s important currency earners.

However, Vietnam and Thailand’s exports are similar, especially agro-fishery products, creating competition. Thailand has so far allowed the import of only five types of Vietnamese fruits, namely white and red dragon fruits, lychee, longan and mango.

Two more Vietnamese fruits receive green light to enter New Zealand

Lemon and pomelo are the next two Vietnamese agricultural products that will be exported to New Zealand, alongside mango, dragon fruit, and rambutan, reported VOV News.

Vietnam and New Zealand sign a deal enabling Vietnamese lemons and pomelos to enter New Zealand. 

A document to this effect was signed by the Vietnamese Ministry of Agriculture and Rural Development (MARD) and New Zealand's Ministry of Agriculture and for Trade and Export Growth, Biosecurity, Land Information and Rural Communities, in Hanoi on November 15 during NZ Prime Minister Jacinda Ardern’s Vietnam visit.

The signing of the agreement is said to open up bright prospects for other Vietnamese agricultural products to penetrate the demanding market moving forward, according to MARD officials.

Statistics from the MARD show the trade turnover of agro-forestry-fishery exports between Vietnam and New Zealand last year reached approximately US$550 million, accounting for 41% of the total bilateral trade revenue.

Both sides also inked an agreement to facilitate customs clearance of agricultural, forestry, and fishery products through the use of electronic certificates in July 2020.

Two more Vietnamese fruits receive green light to enter New Zealand 

At present, working groups of the two countries have deployed an electronic certification system on a pilot basis. They are now facilitating procedures to open each other’s markets for agricultural products.

MARD Minister Le Minh Hoan expressed his hope that both Vietnam and New Zealand will cooperate in developing high-tech agricultural value chains, as well as strengthening connectivity with the global market.

New Zealand has committed to funding the implementation of a project to develop high-quality Vietnamese fruit trees (VietFruit). The project is to provide support for Vietnamese farmers as they develop premium varieties and get further involved in high-value supply chains./.