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Vietnam's Seafood Without a Masterplan

VIETNAM - The absence of proper planning in production and processing is hurting the seafood industry, which might not meet its export target for the year, according to an industry official.

Nguyen Huu Dung, Vice Chairman of the Vietnam Association of Seafoods Exporters and Processors (VASEP) said seafoods exports in the first nine months of this year reached U$3.35 billion, an increase of 23 per cent compared with the same period last year, reported AsiaPulse.

espite this growth, he said, the industry was unstable at present, with both farmers and processing enterprises in considerable trouble.

According to ThePulse, Dung said earlier this year, the seafood industry had experienced major difficulties due to depreciation of the US dollar, increase in input materials price, and tightening of bank loans.

Vu Van Dung, head of the Ministry of Agriculture and Rural Developments Aquaculture Department said seafood production was facing difficulties due to the absence of a master plan for development of the industry, the fluctuation in prices and unstable supply of seafood for processing.