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Ba Ria-Vung Tau Seafood Exports Rose 25.6 Per Cent

Economics +1 more

VIET NAM - In the first nine months of 2011, seafood exports in Ba Ria Vung Tau province increased both in volume and value in spite of a shortage of material and high production costs.

Viet Nam Association of Seafood Exporters and Producers (VASEP) reports that, according to the report of Ba Ria Vung Tau Seafood Processing and Import-Export Joint Stock Company (Baseafood), in the first ninemonths of 2011, it exported 4,950 MT of products, worth US$17.4 million, up over US$5 million against the same period last year, completing 104 per cent of the year plan.

Compared to the same period of 2010, the companys export volume dropped 20 per cent but export value rose as the company intensified to produce value-added products, Tran Van Dung General Director of the company said.

Its value-added products loved in Asia, Europe and America are seafood mix (mix from squid, octopus, shrimp), frozen products (whole cleaned squid, sashimi cuttlefish, octopuss arms, octopus, surimi, breaded tongue sole fish, fried herring, dried products (dried yellow stripe trevally fillet, golden threadfin bream, herring).

According to Mr Le Van Khang, General Director of Condao Seaproducts and Import Export Joint Stock Company (Coimex), in the first nine months of 2011, the export turnover of the company rose nearly 20 per cent against the same period last year. So far, its exporting activity has been good and the company has signed many long term contracts.

Apart from the traditional markets such as Japan, Europe and the US, many domestic enterprises have expanded their destinations to Brazil, Canada, Philippines, and Ukraine to increase the export turnover.

According to Statistics, from January to September 2011, Viet Nam seafood exports reached US$4.4 billion, up 26.7 per cent over that of the same period last year.

The report of Ba Ria - Vung Tau Department of Agriculture and Rural Development shows that, so far, local seafood exporters have shipped 70,981 MT products in all varieties, up 3.5 per cent over the same period of 2010, completing over 71 per cent of year plan.

Seafood exports of the province achieved more than 222.2 million, up 25.6 per cent against the same period last year.

Many enterprises predict that the demand for seafood in Asia and Europe will increase as fears over contaminated meat from cattle and fowl due to livestock disease's increase.

This is good news for the seafood sector. However, seafood enterprises are facing scarcity of raw material and high input costs.

To overcome these difficulties, the enterprises need to create new products, upgrade seafood processing technologies and focus on value-added products.

Besides the traditional markets (US, Japan and EU), the enterprises are seeking to expand to the potential markets like South Korea and China.