Potential exports of seafood to Algeria
After South Africa, Ghana and Egypt, Algeria is the second biggest destination of Vietnam in Africa with seafood being one of potential products.
Seafood is always in the top five Vietnamese products exported to Algeria with an average of 9-10 million USD per year. Algeria imported 32,000 tons of marine and seafood products valued at 84.2 million USD, mainly from Tajikistan, Spain, China, India, Vietnam, and Marco in 2019, according to the Algeria Cútoms.
The Algerian rarely consume seafood, just a round 5kg of fish every year. However, fish consumption is clearly becoming an upward-trend (for its less cholesterol) and the import volume of freshwater fish is accelerating in Algeria. Moreover, a large amount of foreigners coming to this country for investment and working has been contributing to higher demand of marine and seafood.
According to Ms Nguyễn Minh Phương of the Asia-Africa Department of Ministry of Industry and Trade, the African importers do not have the habit of opening the Letter of Credit (L/C), alternatively they prefer the Cash on Delivery. Exporting companies should ask for an advance payment of at least 40-50% of the cargo value or apply a confirmed irrevocable L/C.