January 6, 2009
Financial woes may drag Vietnam '09 seafood exports by 20 percent
Vietnam's seafood shipments may decrease by between 15 and 20 percent this year, with demand from the EU, the US and Japan forecast to register the sharpest fall of all.
According to the Vietnam Association of Seafood Exporters and Producers (VASEP), the global economic downturn may sharply diminish earnings particularly from export staple tiger prawns.
Catfish, another top export, will also be affected, VASEP said.
VASEP Vice Chairman Nguyen Huu Dung said producers should put more attention to quality rather than quantity.
The importance of meeting environmental standards in aquaculture, he said should be "the first thing to do."
Vietnam currently ranks 12th in the world in wild-caught output, third in farmed output and seventh in export value.
The country's seafood export value has increased steadily from US$1 billion in 2000 to US$4.5 billion last year.
An agriculture official said much remains to be done in the industry as it is vulnerable in the process of international integration.
The official also cited unplanned production and poor technology as the sector's major shortcomings that should be addressed.
