Pangasius export difficult in traditional, advantageous in new markets

Price of Pangasius fish tumbled to its lowest level since the beginning of the year, causing a loss of VND4,000-7,000 a kilogram to farmers with large volumes still lying unsold in the Mekong Delta. This information was disclosed at a conference in the Mekong Delta province of Dong Thap on Tuesday, to review production and consumption of Pangasius fish in the first six months of the year and planning for the remaining months. The conference was co-organized by the Ministry of Agriculture and Rural Development and the People’s Committee of Dong Thap Province. The retail price of Pangasius fish has continued to falling in the last few months to touch rock bottom at VND18,000-19,000 a kilogram, while the cost price remains VND23,000-25,000. The loss of VND4,000-7,000 a kilogram is heavy on farmers as they are still unable to sell the mature fish. Breeder Duong Thanh Thai from Thanh Binh District says he has seven fish farms over an area of 15,000 square meters. Two of his farms are at the moment empty and two others have mature fish but as yet unsold. The high feed price is causing further losses each day as upto 7,000 tons of mature fish consume 20 tons of feed a day. According to Nguyen Van Kich, director general of Cafatex Company, the EU market used to import 50-60 percent of the Pangasius fish output of Vietnam annually. However, this figure has now dropped to only 25 percent. Fish export price has also declined from US$3.1-3.2…... [read more]

Trade deficit in May in Vietnam is estimated to reach about US$700 million, with the first five months of the year reporting a deficit of $622 million, accounting from 1.45 per cent of total export turnover in the country. In May alone, export turnover reached $9.1 billion, of which $3.72 billion came from the domestic sector and the remaining from foreign invested sector. The month’s import turnover touched $9.8 billion, an increase of $841 million over April. Of this figure, import turnover of both domestic and foreign invested sectors hit $4.9 billion each. According to analysts, trade deficit in May increased from an import turnover of the country’s main exports like garments and shoes, which increased from $277 million in April to $315 million in May. Increase in import turnover also showed in commodities like agriculture and industrial products like fertilizers, pesticides, petrol, iron, steel and electronic items. Meanwhile, export turnover of some main export commodities including rice and coffee saw a reduction of $40 million in May, with a drop in exports of automobile and motorcycle parts by $34 million. According to the Ministry of Agriculture and Rural Development, seafood exports reached $2.3 billion in the first five months of the year, 9.8 per cent up over the same period last year. Despite an increase, several businesses faced difficulties with a fall in purchasing power in the European market due to the eurozone crisis. Seafood exports to the Netherlands reduced by 11 per cent, Germany by 26 per cent…... [read more]

Price of Pangasius fish has continued to drop in the Mekong Delta to a low VND22,000-23,000 per kilogram, causing much anguish to breeders who will be faced with substantial losses or even bankruptcy. Breeders in Vinh Long, Tien Giang and Dong Thap Provinces and Can Tho City said that with such low prices they would suffer losses of VND1,000-1,500 a kilogram. Nguyen Khac Phuc, from Hong Ngu town of Dong Thap Province, said that they were very happy two months back when the price had increased to VND27,000-28,000 per kilogram. However, after peaking at that price it began to fall, which at present is a matter of grave concern to several households. Phuc has 5,000 tonnes of fish still left to be harvested. By selling at the current price he will suffer a loss of VND1,500 a kilogram. As a result, Phuc has reduced the quantity of fish feed every day to extend the breeding time, hoping the price will go up. Nguyen Van Dung, from O Mon District of Can Tho City, said that he still has 1,000 tonnes of unsold fish in stock and is waiting for the price to go up. Every day, it is costing him VND170 million (US$8,000) to feed them. Dung says that after selling this batch of fish, he intends to clear all his debts and quit fish breeding, as it is very risky business. The Departments of Agriculture and Rural Development in the Mekong Delta Provinces have expressed concern over several Pangasius…... [read more]

Customers shop at a supermarket in HCM City. Around 3,000 retail businesses and 5,300 business households will offer discounts and freebies during HCM City’s annual promotion month from September to December. — VNS Photo HCM City’s annual sales promotion month from September until the end of the year is expected to boost retail sales and attract a large number of foreign visitors. According to the Department of Industry and Trade this year the event is expected to involve 3,000 trade centres, supermarkets, convenience stores and traditional markets and 5,300 business households, a significant increase from last year. They will organise around 12,000 promotions focused on consumer products, electronics, fashion, foodstuff, cosmetics, telecom services, interior decoration items, tourism services, hotels, and others. Besides offering discounts, participating establishments will also offer freebies, lucky draws and free samples. The department said all 24 districts had completed the task of putting up banners to promote the programme. There are usually many programmes during the annual promotion, including an online promotion week, a promotional month fair at the Phu Tho Indoor Stadium, the Diem hen Sai Gon (Saigon meeting place 2017) programme to introduce products made by traditional villages and craft artisans, and several others. Nguyen Phuong Dong, deputy director of the department, said the promotion month would begin with the Hoi tu hang Viet (the convergence of Vietnamese goods) event. To be held for the first time, it will provide Vietnamese companies with…... [read more]

Vietnam imported petroleum mainly from the ASEAN and South Korea in the first seven months of 2017, which together accounted for 90 per cent of the imports. Vietnamese petroleum firms increased imports from ASEAN countries and South Korea to enjoy preferential taxes.  Statistics from the General Customs Department show that the country imported 5.1 million tonnes of petroleum from the ASEAN and 1.72 million tonnes from South Korea between January and July. In the ASEAN, Singapore was the biggest petroleum exporter, with 3.06 million tonnes; Malaysia followed with around 1.5 million tonnes; and Thailand with 567,500 tonnes. Singapore’s petrol exports in the seven-month period was 2.79 million tonnes higher compared to the same period last year. However, Malaysia saw a sharp drop in petrol exports to Vietnam  This is because Vietnam has increased its petrol imports from South Korea as it enjoys a preferential import tax. Under the Free Trade Agreement (FTA) between the ASEAN and South Korea, signed in May 2015, Vietnam reduced import tariff on gasoline from South Korea to 10 per cent from 20 per cent for other markets, effective December 20, 2015. By the end of July, Vietnamese firms had imported around 1.72 million tonnes of petroleum from South Korea, double that of the same period last year and close to touching the total amount of 1.9 million tonnes imported in 2016. The country’s petrol imports from the ASEAN countries in the January-July period accounted for 68 per cent of its total imports, while from South…... [read more]

Vietnamese petroleum firms increased imports from ASEAN countries and South Korea to enjoy preferential taxes. — Photo vnmedia.vn Viet Nam imported petroleum mainly from the ASEAN and South Korea in the first seven months of 2017, which together accounted for 90 per cent of the imports. Statistics from the General Customs Department show that the country imported 5.1 million tonnes of petroleum from the ASEAN and 1.72 million tonnes from South Korea between January and July. In the ASEAN, Singapore was the biggest petroleum exporter, with 3.06 million tonnes; Malaysia followed with around 1.5 million tonnes; and Thailand with 567,500 tonnes. Singapore’s petrol exports in the seven-month period was 2.79 million tonnes higher compared to the same period last year. However, Malaysia saw a sharp drop in petrol exports to Viet Nam. This is because Viet Nam has increased its petrol imports from South Korea as it enjoys a preferential import tax. Under the Free Trade Agreement (FTA) between the ASEAN and South Korea, signed in May 2015, Viet Nam reduced import tariff on gasoline from South Korea to 10 per cent from 20 per cent for other markets, effective December 20, 2015. By the end of July, Vietnamese firms had imported around 1.72 million tonnes of petroleum from South Korea, double that of the same period last year and close to touching the total amount of 1.9 million tonnes imported in 2016. The country’s petrol imports from the ASEAN countries…... [read more]

Foreign investors are rushing to open convenience store chains in Vietnam, which is forecast to become the fastest-growing convenience store market in Asia by 2021. Last week, the Republic of Korea (ROK)’s GS Retail announced plans to launch the first GS25 convenience store in Ho Chi Minh City this year. GS Retail and SonKim Group established a joint venture last month. “We chose Vietnam as our first overseas market because its economy is growing very rapidly these days and those aged 35 or younger make up about 57% of its population,” said a GS Retail’s representative. “Our business in Vietnam is expected to lead to an annual profit of tens of billions of won, including royalties and dividend income.” GS Retail’s future targets include China and Cambodia. This movement is part of the search for growth opportunities in the ongoing global market penetration of the Korean convenience stores. The size of the market topped 10 trillion won (US$8.9 billion) in 2011 and reached 20.4 trillion won (US$18.16 billion) last year. FamilyMart, B’s mart, Circle K, and Vinmart+ are the best known convenience store names in the Vietnamese market. However, the market is expected to become even more crowded with the arrival of Japanese giant 7-Eleven, part of the Seven&I Holding Group. 7-Eleven, which opened its first store in Ho Chi Minh City two months ago, aims to launch at least 100 stores in Vietnam’s largest cities within the next three years. FamilyMart, Japan’s second largest convenience store chain, operates about…... [read more]

Last week, the Republic of Korea (ROK)’s GS Retail announced plans to launch the first GS25 convenience store in Ho Chi Minh City this year. GS Retail and SonKim Group established a joint venture last month. “We chose Vietnam as our first overseas market because its economy is growing very rapidly these days and those aged 35 or younger make up about 57% of its population,” said a GS Retail’s representative. “Our business in Vietnam is expected to lead to an annual profit of tens of billions of won, including royalties and dividend income.” GS Retail’s future targets include China and Cambodia. This movement is part of the search for growth opportunities in the ongoing global market penetration of the Korean convenience stores. The size of the market topped 10 trillion won (US$8.9 billion) in 2011 and reached 20.4 trillion won (US$18.16 billion) last year. FamilyMart, B’s mart, Circle K, and Vinmart+ are the best known convenience store names in the Vietnamese market. However, the market is expected to become even more crowded with the arrival of Japanese giant 7-Eleven, part of the Seven&I Holding Group. 7-Eleven, which opened its first store in Ho Chi Minh City two months ago, aims to launch at least 100 stores in Vietnam’s largest cities within the next three years. FamilyMart, Japan’s second largest convenience store chain, operates about 130 outlets in Vietnam, mostly in Ho Chi Minh City. It recently confirmed plans to expand…... [read more]

Key farm produce has raked in almost US$11 billion, up 18% against last year. Coffee and cashew nut exports showed  stable growth in the period, while vegetable and fruit exports moved up to the third ranking behind aquatic products and forestry products. By mid-July, fruit and vegetable exports totaled more than US$1.8 billion, of which fruit exports made up a majority. Blue dragon exports topped the list making up half of the total fruit export value.  Litchi exports recorded a remarkable growth. Bac Giang province, a center of litchi production, has improved the quality of the local specialty to penetrate demanding markets like the US, the EU, Japan, the Republic of Korea, and Australia.  Truong Van Thai, Deputy Chairman of Bac Giang’s People’s Committee, says: “To avoid a common problem – falling prices when farmers produce a bumper crop - Bac Giang has zoned litchi-growing areas covering between 29,000 and 30,000 hectares. It has also increased the application of technology and safe production techniques, improved product quality, and studied consumer markets. Bac Giang has stepped up trade promotion, sought new markets, and linked processing and distribution to stabilize output and prices.” So far this year, Vietnam has shipped nearly 15,000 tons of fresh litchi to China and another 13 tons were exported to Australia. Since early July, Luc Ngan litchi has been available in supermarkets in Thailand, one of the 5 largest fruit exporters in the world. Tran Thanh Hai, Deputy…... [read more]

Garment raw materials and spare parts are items that Thua Thien-Hue had to import the most during the first seven months of the year. — VNA Photo The central province of Thua Thien-Hue earned US$474.7 million from shipping products to other countries in the first seven months of the year, a year-on-year surge of 24.88 per cent. Of the total, $268.2 million was contributed by the foreign-invested sector, up 28.3 per cent, and $137.4 million by the local private sector, up 30.54 per cent, compared with figures of the corresponding period last year. The United States continued to be the province’s largest importer, accounting for 44 per cent of the province’s export revenue. Along with traditional markets such as China, the European Union, Japan, the Republic of Korea and Taiwan, local products were also exported to Cambodia, India, Slovakia and Sri Lanka.  Key earners, including industrial processed products, agro-forestry-fishery products, fuel and minerals, as well as beer, sake, fine art and crafts, recorded strong growth. Notably, the export of aquatic products doubled to $16 million.  The province also spent $303.9 million on purchasing goods from other countries, increasing 8.35 per cent from the same time last year. Most of the imported items were garment support materials and spare parts, with China still the main source of these imports. Import expenses of local State-owned enterprises and private firms accounted for 18.4 per cent and 30.1 per cent of the total spending, respectively,…... [read more]




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