January 23, 2012

Domestic fish shortage to affect Vietnam's exports

A serious shortage of domestic fish would affect 2012's first half exports of Vietnam, the Vietnam Association of Seafood Exporters and Processors (VASEP) said.

Accordingly, Vietnam's cuttlefish and octopus exports to Japan are forecast to experience a rise in the second half of this year.

However, the association has advised fisheries processors to take the initiative and import seafood materials until this happens.

Vietnam is one of the three largest cuttlefish and octopus exporters to Japan, especially fresh and frozen cuttlefish and processed octopus.

However, it is facing fierce competition from South Korea and China. Last year, the country's cuttlefish and octopus export turnover reached US$520 million or 31.3% on-year increase.