Aquaculture for all

Seafood Exports Drop Six Per Cent in Viet Nam

Crustaceans Processing Economics +3 more

VIET NAM - Hurt by several price and crop failures, fish and shrimp farmers are opting to abstain from plying their trade.

Seafood exports in the first four months fell 6 percent from a year earlier to US$1.05 billion, and processors expect further drops as the global recession continues to hurt demand and farming areas shrink.

“Demand for seafood products has decreased significantly in foreign markets as the result of the economic recession, and so it is normal that contracts are shrinking,” said Truong Dinh Hoe, general secretary of the Vietnam Association of Seafood Exporters and Producers (VASEP).

Le Chi Binh, deputy chairman of the An Giang Seafood Association, said seafood firms in the province are cutting capacity by 20-30 percent.

While many seafood processors are struggling to get export orders, others are refusing to sign them because they face a shortage of raw materials.

Nguyen Viet Cuong, chairman of Phu Cuong Company in the Mekong Delta province of Ca Mau, said his firm has suffered for several months now after being unable to source enough raw shrimp for processing.

He said the input shortage has forced the company to refuse orders from Russia recently.

Create an account now to keep reading

It'll only take a second and we'll take you right back to what you were reading. The best part? It's free.

Already have an account? Sign in here