Vietnam targets $300m in tilapia exports by 2020

Vietnam targets $300m in tilapia exports by 2020

Vietnam’s tilapia exports to foreign markets have enjoyed strong growth over recent years, steadily increasing from an export volume of just $1.95 million in 2004 to more than $32.2m in 2014, reports the Voice of Vietnam.
Update: (3/3/2015)

Last year, the total area of tilapia aquaculture at ponds and lakes nationwide spanned 15,992 hectares, with total output spiking up over 25% to 125,000 metric tons compared against the prior year.

Vietnam's Ministry of Agriculture and Rural Development has now forecast that tilapia exports could reach 21,000 hectares with an output of 140,000t including 50,000t for exports in 2015.

Apart from pangasius and shrimp exports, Vietnam has been striving to transform tilapia into one of its key exports with an output reaching 150,000t and export value of $200 million-$300 million by 2020.

Tilapia is bring consumed in both the domestic and foreign markets. Last year, Vietnam exported tilapia to more than 60 nations around the globe.

The top ten import markets for Vietnam’s tilapia included the US, UK, Spain, Columbia, the Netherlands, Belgium, Germany, Mexico, the Czech Republic and Italy.

The US remained the key market for tilapia at 1,745t, valued at $5.24m, accounting for 18.2% of the country’s total market share, trailed by Spain and Colombia.

from Undercurrent News