Pangasius exports to US enjoy record prices. (Source: VNA)
Exports to the market grew by 123 percent year-on-year to 160 million USD since demand was high and supply was modest. Increased transportation costs due to the impact of COVID-19 was a contributing factor to the increase in prices, not only to the US but to all markets.
Exports to the EU market fetched 2.9-3.45 USD per kilogramme.
Total exports topped 646 million USD, year-on-year growth of 88 percent, according to VASEP.
The high global demand drove up the average export price of frozen pangasius fillet to 3.4 USD, 0.25 USD higher than in January this year.
In the Chinese market too, prices are much higher than last year, ranging from 2.4 USD to 3.25 USD per kilogramme compared to 1.9 - 2.7 USD a year earlier.
Photo for illustration. (Source: vneconomy.vn)
After falling for many exports to the EU jumped by 86.2 percent in the first quarter of 2022 to 46.7 million USD, with huge increases seen in shipments to all the major markets in the bloc like the Netherlands (86 percent), Germany (97 percent), Belgium (120 percent), and Spain (67 percent).
It is forecast that the demand for essential goods, including food and seafood, will increase sharply in the EU providing a good opportunity for Vietnamese companies to export frozen pangasius, VASEP said.
In the second quarter too exports to these major markets are likely to rise sharply due to a shortage of cod and pollock supply from Russia.
Duong Nghia Quoc, Chairman of the Vietnam Pangasius Association, said China has large demand for Vietnamese pangasius, and, along with the promotion of trade relations between the two countries, it is also essential to provide information about China’s zero-COVID policy and food safety and hygiene regulations to local businesses.
The price of commercial pangasius in the domestic market rose by 40 percent this year to 30,000 VND per kilogramme.
Vietnam coffee exports hit three-year record high
Following impressive growth recorded in the first quarter, Vietnamese coffee exports are projected to continue increasing moving into the second quarter thanks to abundant supply sources and incentives from numerous free trade agreements (FTAs), reported VOV News.
Vietnamese coffee exports are anticipated to grow moving forward (Photo: thoibaotaichinhvietnam.vn)
Statistics compiled by the Ministry of Agriculture and Rural Development (MARD) indicate that coffee was among the five commodity groups which boasted an export value reaching over US$1 billion each in the first four months of the year. Accordingly, coffee fetched US$1.7 billion from exports, a rise of 59.4% year on year and a record high over three years.
Experts from the Ministry of Industry and Trade (MoIT) also pointed out that local coffee exports in the first quarter reached a record high thanks to rising consumption demand coupled with favourable customs clearance procedures.
Furthermore, figures given by the General Department of Vietnam Customs show that businesses shipped 581,700 tonnes of coffee abroad worth US$1.3 billion throughout the reviewed period, an increase of 28.3% in volume and up 60.2% in value compared to the same period last year.
Most notably, coffee exports to Europe skyrocketed by 92.6% during the three-month period, and accounted for 54.39% of the total export value, a figure much higher than the 40.71% rate seen in the first quarter of last year.
Meanwhile, the proportion of coffee exports to Asia dropped from 45.62% in the first quarter of 2021 to 32.7% in the first quarter of this year.
With regard to the Americas, coffee exports to the United States and Canada also endured a downward trajectory.
Vietnam exported 529,200 tonnes of Robusta coffee worth US$1.05 billion, up 33.5% in volume and up 70.5% in value, while Arabica coffee exports reached 20,870 tonnes worth US$94.24 million, representing a decline of 5.1% in volume and a rise of 61.5% in value year on year.
The Import-Export Department under the MoIT reports, coffee prices, after a sharp increase in the first two months of the year, started a downward trend in March and April due to an abundant supply and decreasing demand in the short term driven by high inflation.
However, coffee exports are forecast to grow over the coming months thanks to incentives from FTAs, which have contributed to creating competitive advantages for Vietnamese coffee within the international market.
HCM City to launch tourism activities during SEA Games 31
At the press conference (Photo: VNA)
A press conference on the 18th edition of the Ho Chi Minh City Tourism Festival was held in the city on May 5, reported Vietnam News Agency.
The coming event, part of the ‘Welcome to Ho Chi Minh City’ programme, will be held in celebration of the 31st Southeast Asian Games (SEA Games 31), to be hosted in Vietnam this month.
It is slated for May 14-17, expected to attract more than 100 units across the country.
The event will feature an array of activities with an aim to promote the city’s tourism market and image as a safe, attractive and friendly destination to domestic and foreign tourists, Deputy Director of the municipal Department of Tourism Le Truong Hien Hoa said.
They include a national conference highlighting intra-regional connectivity in high quality human resources training for Vietnam’s tourism in the post-pandemic period, another on opportunities and challenges of Vietnam’s tourism in 2022 summer, and tourism programmes between HCM City and the Mekong Delta localities, among others.
New tourism products at discount prices, including waterway and air tours, will be introduced to festival-goers.
SEA Games 31, themed “For a Stronger South East Asia”, will be held in the capital city of Hanoi and 11 neighbouring provinces and cities from May 12 to 23.
Economist Intelligence Unit: Vietnam ranks mid-table for tourism recovery
Vietnam along with Thailand, India, the Philippines, Papua New Guinea, Indonesia, Mongolia, and the Republic of Korea, ranked mid-table for tourism recovery, according to the travel-ready index 2022 released by the Economist Intelligence Unit (EIU), reported VOV News.
Vietnam officially reopened international tourism on March 15.
This comes after Aljazeera.com revealed the report by the EIU listed Fiji, Sri Lanka, Malaysia, and the Maldives among the countries with the strongest position to revive their pandemic-battered tourism industries among Asia-Pacific destinations.
The EIU also ranked Singapore, Australia, Bangladesh, New Zealand, Nepal, and Cambodia among the top 10 destinations which are best placed for tourism recovery.
Elsewhere, the index outlines that Hong Kong (China) has the worst prospects due to its restrictive border policies.
After Hong Kong (China), other destinations such as Brunei, Bhutan, Taiwan (China), Samoa, Vanuatu, Japan, China, and Laos also ranked as the destinations with the least favourable conditions for tourism moving forward.
The EIU said the top performers in the index have all moved to ease visa and entry restrictions since 2021 or earlier.
The index measures the positive conditions for tourism based on the importance of the sector to the economy, local vaccination coverage, ease of travel, and the convenience of returning home./.