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Shrimp exports in 2012 faced a lot of challenges !

October 25th, 2012

In 2011, Vietnam shrimp shipment set the record high of US$2.4 billion. Facing many difficulties in the current market, shrimp exports hardly obtain the same figure of last year. In the period between January and August 2012, shrimp exports value dropped by 1.8 percent compared to the same time last year and as of September 2012, the figure sank by 3.9 percent. According to statistics of General Department of Viet Nam Customs, as of September 2012, shrimp sales to abroad gained over US$1.62 billion, down 3.6 percent over the same period of 2011. As of the late second quarter of 2012, shrimp exports started to be on the decrease: exports in June 2012 saw the decline of 4 percent over that of June 2011, July saw the decline of 6.8 percent and sharp decrease of 21.6 percent was witnessed in August. In September 2012, shrimp exports fell by 15.8 percent as the result of Japan’s Ethoxyquin inspection on Vietnam shrimp exported to the country. In July 2012, shrimp exports to Japan – the largest importer of Vietnam shrimp – started to come to a halt, August reported a deep fall of 16.6 percent and to September, the decline was 9.2 percent. The decrease was mainly attributable to that Japan intensified to test Ethoxyquin residue in shrimp consignments originated from Vietnam with maximum residue limits (MRLs) of 0.01 ppm. In the wake of hardship in the current international markets, Japan becomes an important consuming market of Vietnam shrimp. During the first 6 months of 2012, shrimp exports to the market remained a double digit growth. As of July, exports to the market slowed down as the result of Japan’s strict measure on Ethoxyquin residue controlling in imported shrimp from Vietnam. When the state hasn’t offered a thorough solution for Ethoxyquin problem, in an effort to keep the consuming market, many shrimp enterprises themselves have to manage on solving the problem. They tried applying measures of limiting Ethoxyquin residue in raw shrimp. Within a week before harvesting, they feed shrimp with feed containing low level of protein or stop feeding shrimp within 12 – 16 hours before harvesting. Some enterprises stopped exporting industrial farmed shrimp to Japan and replaced by exporting extensive farmed shrimp to the market. However, these measures are only temporary, exports to Japan are unlikely to recover without strong intervention from the government and relevant authorities. According to the latest report on Japanese shrimp market, Japan’s inventory of black tiger shrimp remained a small volume due to deep decrease in shrimp imports from Vietnam and India where shrimp exporters are facing regulations on Ethoxyquin residue controlling. Thus, there is a huge demand for black tiger shrimp imported into Japan. Once Ethoxyquin problem is tackled, Vietnam shrimp exports to Japan will rally as well as Vietnam shrimp will regain its good quality and image in other markets. August 2012 witnessed decline in shrimp exports not only to Japan but also to almost main markets such as the U.S., EU. In September, exports to the markets kept deep decrease in which exports to the U.S. fell 34.3 percent, EU with 24.8 percent.

Source: Portunus Vietnam

Pangasius farmers may get loans at preferential interest rates !

October 25th, 2012

State-owned commercial banks in four pangasius producing provinces in Mekong Delta (An Giang, Dong Thap, Vinh Long and Can Tho) still reported high level of outstanding loans offered to insiders in pangasius aquaculture and processing sector, according to Nguyen Huy Dien, Deputy General Director of Vietnam Directorate of Fisheries (D-Fish) after his trip for preliminary assessments of the effects of government policy to help fish growers get out of economic difficulties. An Giang province has currently had VND1,265.338 billion of total outstanding debts, Dong Thap VND4,154 billion, and Can Tho VND5,688 billion. Inter-ministerial inspection delegation, including D-Fish, had meetings with local People’s Committees, Departments of Industry and Trade and state-owned commercial banks to assess the situation. Regarding loan interest rates, most fish farmers and processors with debts at maturity had received interest rates down to 13 – 15 percent per year. However, some commercial banks still calculated high interest rate of 19 – 20 percent for loans offered for pangasius sector, causing more pressures on costs for fish production and processing to export. Relevant authorities in localities are trying to find measures to handle the obstacle. The inspection delegation also took a visit to fish farms and processing facilities and noted that there have been fish producers and processors unable to access banks’ capital sources. Dong Thap recorded good results in saving its pangasius industry. Mekong Delta-based province totals now 1,174 units supplying pangasius fingerling. It also reaches a large area of fish farming of 769.5 hectares. Dong Thap still has difficulties in providing sources of capital and offering new loans to pangasius industry insiders, but local authorities have taken active action to deal with existing problems in order that pangasius industry insiders can get loans with 11 percent interest rate. In early October 2012, Dong Thap’s relevant authorities hold dialogue with pangasius farmers on television to hear their concerns over bank loans and answer their questions related to the issue to find the solution for the problem.

Source: Vasep

Vietnam Tuna Export, Jan – Aug 2012

September 26th, 2012

Source: Vasep

Vietnam Shrimp Export, Jan – Aug 2012

September 26th, 2012

Source: Vasep

Vietnam Pangasius Export, Jan – Aug 2012

September 26th, 2012

Source: Vasep

Tuna exports increased to Mexico market.

September 3rd, 2012

Mexico imported a large amount of Tuna from Vietnam. Among key Vietnam seafood items exported to Mexico, tuna ranks the second position in export value after pangasius. Since the early year to July 15th 2012, Vietnam tuna exports to Mexico are mainly fillet and other frozen tuna products (HS 0304 code) with the export value of US$3.65 million, up drastically 472 percent over that of the same period of 2011.Despite its unstable domestic economy, Vietnam still boosted to export tuna to Mexico. For the year to date, tuna exports to the market has been rising in each month with triple digit growth, in April alone, exports got four digit growth over the same period of 2011. Since May 2012, Mexico has been put in the top ten importers of Vietnam tuna. Tuna exports to the markets in May and June 2012 remarked an impressive growth of 365.7 percent and 921.5 percent, respectively over that of the corresponding period of 2011. During 2007 – 2011, Vietnam tuna export value saw ebbs and flows. In 2008, tuna export value attained US$5.3 million. However, in 2009, the figure sharply fell 88 percent to US$660,900 over the previous year – the deepest reduction in the past 5 years. Tuna export turnover from Vietnam to Mexico in 2009 was badly affected by instability in almost importing markets. In 2010, Vietnam tuna shipment to the market sharply advanced 142 percent to US$1.6 million against 2009.

Source: Vasep

Vietnam pangasius export to the EU dropped nearly 27 percent !

September 3rd, 2012

Vietnam pangasius export to the EU dropped nearly 27 percent compared to the same period of 2011. The downtrend is predicted to continue in the coming months when traders see no sign of recovery in the European economy. Sales of fish to four European key markets (including Spain, the Netherlands, Germany, Italy) went down in June, though Italy still saw growth of 10.8 percent to US$3.4 million in the previous month. Spain was the largest pangasius-consuming market in the EU. In June 2012, its imports of pangasius were down 32 percent to US$7.4 million. Due to the decline, fish import into the country only totaled US$48.4 million in the first two quarters of 2012, equal to 35 percent less than the same period of 2011. After positive rise in the first months of the year, fish trade with Spain began downing from May. Furthermore, Spanish economy is facing much more financial difficulties after its banks got credit rating downgrade in European bank rankings. Therefore, it must be so hard for Vietnam pangasius industry to boost fish export to this destination in the third quarter of 2012. Similarly, the Netherlands – Vietnam’s second biggest pangasius importer in the EU – got down in import value by 35 percent to US$5.7 million in June. Year-to date earnings from this market were around US$38.5 million, down 25 percent. Germany reported the sharpest drop of 45 percent to US$27.6 million among four main fish-consuming countries. Italy was the unique importer recording positive growth in May, but its pangasius imports immediately fell by 13.5 percent to US$3.5 million in June. This was because of tough economic trend in the EU as well as existing difficulties in Vietnam pangasius industry. According to some importers in Europe, slowing sales has also occurred in many other seafood and food products. Fish consumption may rebound in the last months of the year, but just little growth, because the region is still dealing with financial challenges and fewer profits made by both importers and retailers.

Source: Vasep

Shrimp exports to Japan surged

September 3rd, 2012

Vietnam shrimp exports to Japan in the first 6 months of 2012 recorded high growth, except for January when shrimp exports to the market fell. In Feb, the growth was 50.4 percent, Mar with 50.4 percent, Apr with 31.1 percent, May with 52.5 percent and Jun with 23.7 percent. Out of 4 leading importers of Vietnam shrimp, only Japan can remain high advance in Vietnam shrimp imports through Jun 2012. In the wake of instable shrimp demand in the U.S., EU or China, particularly the U.S., Japan is considered as a stable importing market of shrimp. However, Japan strengthened imposing technical barriers on Vietnam shrimp exports while India increased rapidly its market share of shrimp exports in Japanese market in 2011 and the first 5 months of this year which are posing big obstacles for Vietnam exports to the market in 2012.

Source: Vasep

Vietnam tuna exports to Italy rose sharply

August 13th, 2012

In the first six months of 2012, out of main exported seafood products from Vietnam, exports of tuna products witnessed the highest year-on-year growth of 38.5 percent although tuna only made up 10 percent of total export value.

Through June 2012, tuna exports reached US$286 million, in which raw tuna (HS 03 code) exports gained US$188 million, up 33.6 percent (accounting for 70 percent of total tuna export); processed tuna (HS 16 code) shipment touched US$98 million, up 49 percent year-on-year. In June 2012 alone, raw tuna exports marked triple digit growth of 165.2 percent while processed tuna exports, mostly canned tuna, only rose by 22.5 percent year-on-year.

Italy is the second largest market in tuna import value from Vietnam in EU with over US$13 million, up 123.7 percent year-on-year. Although tuna import value in June is lower than that of May, Italy is one of markets reporting the sharpest growth in tuna import from Vietnam (374.8 percent). The market reporting the highest growth rate in tuna consumption among EU importers in Jan-Jun 2012. In two recent years, Vietnam tuna exports to Italy tended to rise in value. For the year to date, tuna exports to Italy got double or triple digit growth in consecutive months, only except for March, export value fell by 43.5 percent over that of the same period of 2011.

Italy imported mainly frozen raw tuna from Vietnam accounting for 97.5 percent of total tuna exports to the market and touching US$12.7 million, up 118 percent year-on-year. Canned tuna exports made up a small proportion of 2.5 percent with US$326.4 thousand.

Consumption of fresh fish in Italy reduced by 6 percent while consumption of frozen fish rose by 5 percent because the price of frozen fish is lower than that of fresh fish sold in the country. Therefore, the price is one of the main factors affecting to Italian consumers’ choice.

Canned tuna plays an important role in Italian fish processing industry, however, the industry is getting worse. Domestic large Italian processors are switching to invest into foreign countries where the supply of raw fish is plentiful and labor cost is lower. Because of hiking production cost and dwindling tuna catch, Italy must import a large amount of canned tuna from other countries to meet the domestic demand. Italy carried out labeling on seafood products to distinguish domestic products from imported products in order to promote and raise the value of domestic products.

Italy also applies policies on preserving and restoring dwindling tuna stock under European Common Fisheries Policy. So strengthening to import fish is still an effective solution to balance fish supply-demand in the domestic market.

The price of exported fish to Italia is lower than that of some other markets, the market is considered as an important importer of Vietnam tuna. Exports of tuna to Italy are expected to grow positively in the last months of 2012.

Source: VASEP

US main destination of Indonesia’s Fishery Exports

August 2nd, 2012

United States is the main export destination of Indonesia’s fishery products, buying US$1.07 billion or 30.4 percent of the country’s overall fishery exports last year. Japan came in second with US$ 459.8 million (13.1 percent).

Data from the ministry revealed that Indonesia exported US$3.5 billion worth of fishery products last year, up 22.95 percent from a year earlier. The ministry has set the target of fishery exports for 2012 at US$4.2 billion.

The strong growth in the 2011 fishery exports was attributed to close cooperation between the government and fishery businessmen to improve quality control system and provide safety guarantee to the buyers of Indonesian fishery products.

Source: Bernama