MLBA7: February / March 2009
Vietnam surges ahead in seafood trade
The year 2008 has brought adverse weather, escalating input prices and a very stiff market competition for Vietnam's seafood industry. Yet, the sector managed not only to stay afloat but also to hit an all-time high in terms of exports.
The Ministry of Agriculture and Rural Development (MARD) reports that Vietnam earned US$4.562 billion from its seafood exports last year.
During the first ten months of 2008, the seafood export volume reached 1.054 million tonnes valued at US$3.828 billion, up 39.4 percent in output and 24.4 percent in value against the same period in 2007, according to Vietnam Association for Seafood Exporters and Processors (VASEP).
The country's total aquatic product output for last year reached 4.58 million tonnes, the highest so far, including 2.45 million tonnes from aquaculture farms, up 2.9 percent and 15.3 percent on-year, respectively.
Of the total exports, shrimp remains as the top export product, estimated to contribute more than US$1.7 billion while pangasius exports contributed nearly US$1.5 billion.
Vietnam's seafood products have been exported to over 150 countries including new markets in Africa and the Middle East.
This impressive growth was attributed to seafood products diversification, technological upgrades and market expansions, notes Nguyen Thi Hong Minh, vice minister of fisheries, MARD.
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