Seafood export reaches nearly US$2 billion in 7 months

The Fish Site
by The Fish Site
2 August 2007, at 1:00am

VIET NAM - Vietnam earned US$340 million from seafood exports in July alone, bringing the total seafood export value to nearly US$2 billion in the past seven months, reaching 55.22 percent compared to the annual target and up 15.71 percent on the same period last year.

Seafood export volume, especially shrimp to Japan, reduced significantly due to strict requirements on quality, hygiene and safety.

It is forecast that in the near future exports to the EU and the US will increase as some EU companies will shift their orders to Vietnam. Thai shrimp exports will decrease due to an increase in material costs and diseases. Therefore, Vietnamese seafood businesses can boost exports to the market.

Seafood output in July is estimated to reach 166,000 tonnes, bringing the total output in seven months to more than 1.247 million tonnes, reaching 62.4 percent compared to the annual target and up 2,21 percent compared to last year.

Early this year, processing businesses were short of materials. Material prices went up and down. Tra and basa catfish raising developed strongly, pushing prices of tra and basa catfish food and breeding up. However, now the prices of tra and basa catfish have reduced sharply to VN11,000-11,500 per kilogram. Antibiotic and chemical residues in shrimp decreased as quality control was strictly implemented and Japan checked all batches of seafood imported from Vietnam.

Businesses have invested in upgrading and renovating equipment and technology to improve quality and diversify products. An additional 18 businesses reached the standard to export products to the EU, bringing the total number of businesses to 470. Processing businesses have developed material zones.

Source: Vietnam Economic Times