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Vietnamese Crab Exports Growing

Sustainability Economics +3 more

VIET NAM - Viet Nam crab exports in the first four months of 2015 were valued at $28.46 million, up 9.1 per cent over the same period last year.

It is forecast that more crabs will be sent abroad in the next months, according to reports from the Viet Nam Association of Seafood Exporters and Producers.

In the first four months of 2015, Vietnamese crabs were sent to 28 different markets. Exports to Australia experienced the strongest growth among all markets, at 170.3 per cent. Hong Kong had the second biggest increase of 94.2 per cent.

The top eight markets accounted for 95.6 per cent of total crab export value. The US, EU and Japan continued in the top three. These markets represent 82.6 per cent of Vietnam crab exports.

This year is predicted to be a good one. A rise in quota and price along with good inventory level in markets promises better sales. Beside, price for fuel remained lower than the same period of 2014.

This encourages Vietnamese crab exporters to boost sales. Last but not least, FTAs with South Korea and the Eurasian Economic Union were officially signed, bringing Vietnamese exporters advantages when exporting to these markets in the future.