Businesses need better forecasting models and risk prevention tools related to exchange rates. For example, using financial derivatives and diversifying payment currencies may help minimise risks and even bring benefit from currency fluctuations.
Brazil has not allowed the export of whole frozen shrimp and still applies additive and phosphate standards on Tra fish (pangasius) that are different from the Office International des Epizooties (OIE)’s standards, thereby causing difficulties for Vietnamese seafood exports.
Timber and wood furniture exports to the Canadian market during the opening two months of the year surged by 47.4% to reach US$36 million against the same period from last year, according to statistics released by the General Department of Vietnam Customs.
Việt Nam's exports to the US have continued to recover since the end of last year, with a strong growth in export value in the first two months of 2024.