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Source: VNS

Seafood exports to surf past $6 billion this year

The value of seafood exports this year are expected to inch up by about 1% over last year to USD6.12 billion, the Ministry of Agriculture and Rural Development estimates.

The value of seafood exports this year are expected to inch up by about one percent over last year to USD6.12 billion, the Ministry of Agriculture and Rural Development estimates.

 
Seafood exports to surf past $6 billion this year - 1
 Workers of Ba Ria-Vung Tau Seafood Processing and Import Export Joint Stock Co process seafood for export. — VNA/VNS Photo Phuong Vy
The figure would fall short of the target of $6.5 billion set for the year, the ministry said, citing global economic difficulties, rising input costs, and capital shortages.

Seafood exports to the EU in the last quarter dropped sharply, declining by 12 percent from the same period a year ago, while shipments to the US and Japan also declined roughly 1.5-2 percent, according to statistics from the Vietnam Association of Seafood Exporters and Producers (VASEP), reflecting a failure in the usual pattern of rising seasonal demand around the holidays.

The chairman of VASEP's shrimp committee, Ho Quoc Luc, said that shrimp exports this year faced major challenges since Japan increased testing for ethoxyquin levels in shrimp imported from Vietnam. The US and South Korea have recently also stepped up testing of Vietnamese product, Luc said.

Many seafood producers have upgraded their aquacultural areas to meet the higher quality standards, he noted.

The general director of Caseamex Co in the southern province of Can Tho, Vo Dong Duc, said that his company's investment in aquaculture areas rose by about 20 percent this year as the company took steps to comply with the higher standards of importing countries.

The ministry's General Department of Seafood has also said that it would enhance monitoring of seafood breeding and feeding practices next year to further enhance the quality of the country's seafood products.

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