Managing to Expand Seafood Export Market in Tough Time

8:16:29 AM | 1/17/2022

In 2021, despite four or five months of being affected by the COVID-19 epidemic, Vietnam's seafood industry made a spectacular escape, with the export value topping US$8.89 billion.

IDI workers work hard ahead of the Lunar New Year

Nguyen Quang Hung, Deputy Director General of the Directorate of Fisheries, said, COVID-19 epidemic development is likely to be still complicated in 2022 while higher requirements for food safety and origin traceability will be difficult and challenging for the fisheries industry. The whole sector will still strive to realize the targeted output of 8.73 million tons and the export value of US$9 billion this year.

Exported seafood strictly meet food hygiene and safety regulations

Accordingly, the sector will continue to maintain 13 pangasius exporters to the United States and add 19 more exporters to the Russian market, 67 exporters to South Korea, 31 exporters to China (totaling 779 companies to China), and 52 exporters to the European Union (EU).

The President of the Board of Directors of IDI Company recently informed that IDI Company is ready to join deeply in the global value chain because it established self-contained farming areas since 2008. At present, the company's owned and associated farming area covers about 400 ha, all of which meets Global GAP, ASC and BAP standards. Participating households are provided with high-quality seeds and feeds and have their output products bought by the company. That solid foundation has helped IDI fully control exports of high quality and competitive prices.

IDI is accelerating to supply enough exports in the “golden” time of the year

Determined to get back what was missed

IDI General Director Le Van Chung said, despite facing numerous difficulties such as disease prevention and volatile container costs, exports grew quite well. With a quick vaccination for 8,000 employees and strict respect for 5K preventive measures, the company managed to keep business operations throughout the epidemic time. Currently, the company is trying very hard to work overtime to meet orders for partners as contracted ahead of the traditional Tet holiday.

Orders are rushing in

Opening the door to the big market

“The market way is very rough. Reopening does mean success for all. Sometimes being hard hit, you must be patient. If you can't stand it, you will surrender as a result. This requires producers to manage risks well and understand market movements to make a right change in time," he said.

IDI’s resilience in the storm

After a pandemic-caused hiatus, the South American market rushed to import pangasius at a very attractive price, twice as high as a year earlier. This good progress has provided a great advantage for IDI, especially in Mexico and Brazil.

In 2021, the company exported its products to 95 markets around the world, largely to supermarkets and restaurants. To have long-term orders with good prices to increase profit margins, IDI will continue to make inroads into other markets this year when it deepens its presence in the global value chain.

IDI has a large export capacity because it has already met export criteria thanks to a closed production process, modern technologies, excellent employees and outstanding product quality management system. Currently, IDI's export orders have provided full work till the end of 2022.

In the new situation, the company has made efforts to fight the epidemic, boost production and meet high market demand to assert its name on the world market.

By Hai Yen, Vietnam Business Forum