Aquaculture for all

Will Seafood Exports Surpass $6.7 billion in 2014?

Sustainability Economics +3 more

VIET NAM - Viet Nam seafood exports in 2013 passed the target of $6.5 billion to reach $6.7 billion. The figure was attributable to a great contribution of shrimp export turnover with over $3 billion, making up 46 per cent of the countrys total seafood exports.

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Viet Nam shrimp exports, particularly whiteleg shrimp got great success in 2013 thanks to its stable supply in comparison with China, Thailand and high shrimp price in large markets such as Japan and the US. Viet Nam whiteleg shrimp exports in the year rose 113 per cent year-on-year to reach nearly $1.6 billion, reports VASEP.

The pangasius industry in 2013 faced some difficulties due to instability in fish supply, low demand and low price. However, pangasius exports still reached over $1.7 billion, equating to that of 2012.

After the positive growth of 2012, exports of tuna, cephalopod and other marine products in 2013 reported a continuous reduction. Lack of domestic raw material, low demand from foreign markets caused by high inventories, hiking import duty and technical barriers led to deep dive in marine product exports, 7.2 per cent reduction in tuna exports and 11 per cent decline in cephalopod exports.

In the second half of 2013, seafood exports to markets recovered, mainly thanks to sharp increase in shrimp exports. In which, China claimed to the fourth position in importing Viet Nam’s shrimp and other seafood products with year-on-year growth of 49 per cent and 37 per cent, respectively.

Viet Nam seafood exports in 2014 will surpass the export turnover of 2013 if the quality of shrimp seed is ensured, chemicals and antibiotics in aquaculture and exported products are closely controlled.

Shrimp sales in 2014 are expected to remain over $3 billion with the target of $3.5 billion. Exports of pangasius, tuna, cephalopod and other marine products in 2014 are likely to recover because it is expected that global demand for the items may increase slightly amid gradual improvement in global economy.

You can read more of the Report on Viet Nam Seafood Exports in 2013, here (subscription required).

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