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Seafood Exports Show Recovery

by 5m Editor
1 September 2009, at 1:00am

VIET NAM - Seafood exports have shown signs of rapid recovery over the last few months and could reach 100,000 tonnes worth more than US$400 million in August, according to the Ministry of Industry and Trade.

Shrimp exports have risen especially sharply in the second half of the year after an earlier decline caused by the global economic crisis, according to official sources.

The country exported 19,000 tonnes worth $148 million in June alone, up 13.5 per cent year-on-year in terms of volume and 3.9 per cent in value, according to the Viet Nam Association for Seafood Exporters and Processors (VASEP).

Tra and basa catfish exports have also resumed to many markets.

In July, 75,000 tonnes were shipped, the highest monthly export quantity this year. Exports are expected to top $640 million during the rest of the year, taking total catfish exports to $1.25 billion.

The coming months were expected to be even better, Vietnamese trade offices abroad said, due to the increasing demand for seafood in key export markets.

Japan recently increased shrimp and squid imports due to soaring demand.

Japanese importers buy shrimp mostly from Indonesia and Viet Nam because of their low prices.

In the US, demand for clams, tuna and tilapia is rising.

The Ministry of Industry and Trade is urging exporters to stockpile clams and tuna for export to the US and shrimp and squid for shipping to Japan and the EU.

The report concludes that exports in the first seven months have been 632,000 tonnes worth $2.2 billion, a year-on-year decrease of nine per cent, according to VASEP.

5m Editor