February 13, 2008

Vietnam's tra catfish exports hit US$1 billion

Tra catfish exports of Vietnam reached a record of US$1 billion in 2007, a rise of 34.4 percent over 2006 revenues.

Vietnam's 2007 catfish exports already satisfy the 2010 target way ahead of schedule. This was attained amidst price fluctuations, technical barriers in food hygiene and safety, and the levelling of anti-dumping tariffs by the US.

Last year, exports of tra and basa catfish accelerated in almost all markets, especially the Ukraine, Egypt, UAE, Jordan, Costa Rica and Algeria.

The EU accounted for 49 percent of the nation's total tra catfish export valued at US$400 million.

Experts said the EU, Eastern Europe and North America are still potential high-growth export markets for Vietnam's tra catfish.

Exporters have shifted focus on EU, Canada and Australia following the US anti-dumping tariffs.

Prices have been volatile ranging from less than VND13,000 (US$0.81) per kilo to  VND18,000 (US$1.12) per kilo.

The Vietnam Association of Seafood Exporters and Processors eyes on the EU, Southeast Asian countries, and Russia as the major importers in the coming years.

Luong Le Phuong, deputy minister of agriculture and rural development, said license certificates would be released to enterprises that consistently meet standards of quality and hygiene and invest in the expansion and improvement of their tra and basa catfish production.