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Vietnam seafood exports cross 2 billion USD in last 7 months

Vietnam’s seafood export turnover for the last seven months valued USD 2.45 billion or 11.6 percent higher than last year.  
The highest seafood export item from Vietnam is shrimp which registered a turnover of USD 717 million in seven months. Tra and basa fish exports next at USD 650 million showing a growth of 8.23 percent. The figure was released by the Ministry of Agriculture and Rural Development (MARD). The Ministry said that the European Union (EU) is still Vietnam’s biggest export market for seafood with a value of USD 512 million with Japan next at USD 371.6 million.In the first seven months Vietnam exported over 20,000 tonnes of tra and basa to Russia, a growth of over 2,000 tonnes year-on-year. Duong Ngoc Minh, head of the tra catfish export management board to Russia, said the export target of USD 100 million set for 2010 may be reached. Vietnam’s aquatic export turnover has burgeoned, however almost all export businesses have faced hardships as a result of a shortage of supplies and shrinkage of the spawning area of tra fish.Besides such good result of seafood exports Vietnam’s numerous seafood processing businesses in the Mekong River Delta region have been consequently forced to import materials. Apart from materials, companies have struggled with other high input costs, such as those of high interest rates, electricity, water, salaries, transportation and packaging. Further, although the price of shrimp has risen, that of other kinds of products has fallen.

MARD Deputy Minister Luong Le Phuong said seafood processing businesses ought to boost trade promotion in new markets. They are taking good part in seafood trade fairs which provides favourable opportunities to endorse Vietnam’s tra and basa fish industry and look for new partners in foreign markets.

Source: vasep.com.vn 

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