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Viet Nam Fisheries Exports up 8% year-on-year

HA NOI - Seafood exports last month increased 8.2 per cent year-on-year to US$192 million, according to the Ministry of Fisheries, due in part to a seasonal rise in demand.

Tra and basa catfish are processed at Can Tho city-based Song Hau Food Processing Joint Stock Company. The price of tra and basa catfish surged on a month-on-month comparison due to increasing demand for holidays.

In January, companies exported 47,470 tonnes of seafood, including 8,500 tonnes of frozen shrimp, 4,370 tonnes of cuttlefish and octopus, and 26,000 tonnes of fish.

Despite declining prices in the local market, shrimp farmers were able to sell their goods to the US at $12.70 a kilogram. In Soc Trang Province, shrimp sold at VND155,000 a kilogram, down by VND10,000-15,000 against prices in mid-December.

Meanwhile, the price of tra and basa catfish surged on a month-on-month comparison. Officials attribute the trend to rising demand during the Christmas to Tet festive season and limited supplies from local ponds.

Despite the increase in the overall export value, revenues were kept in check by new hygiene standards imposed by Japan.

Deputy Fisheries Minister Nguyen Hong Minh has urged companies to improve quality and hygiene controls soon, given Japan is not the only country tightening inspections. Russia and Australia are also requiring new safety checks before seafood products enter their market.

TheFishSite News Desk

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