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Vietnam’s Seafood Export Value To Increase This Year

VIET NAM – The total export value of seafood is expected to increase by 13.4 per cent to US$4.8 billion this year, Vietnam‘s Ministry of Agriculture and Rural Development’s Centre of Informatics and Statistics has announced.

World prices for many types of seafood had increased sharply since early this year due to a short supply, the centre said. The shrimp price for jumped by 40 per cent to $14 per kilo in the US while tra fish fillet saw a 20 per cent price jump to $3.5 per kilo against April prices.

The shrimp price in Japan also surged by 18 per cent over the early months of the year.

The oil spill in the Gulf of Mexico and crop failures in shrimp exporting countries, including Thailand and India, resulted in advantages for Vietnam’s seafood export enterprises, said the Vietnam Association of Seafood Exporters and Producers (VASEP).

In the first seven months of this year, shrimp overtook tra for first place in export value among Vietnam’s key seafood export products, the ministry said.

The export value of shrimp in the first seven months had a year-on-year increase of 22 per cent to $717 million, accounting for 35.5 per cent of the country’s total seafood export value.

The value of tra exports and tuna exports jumped by 7.9 per cent and 88 per cent, respectively, in the first seven months.

In that period, the total national seafood export value increased by 11.6 per cent to $2.45 billion over the same period last year.

Vietnam has exported seafood to 143 countries and territories, with the European Union being the largest export market so far. Seafood exports to the EU reached 164,000 tonnes for $502 million in earnings, accounting for 24.5 per cent of the country’s total.

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