March 19, 2009
Vietnam shrimp export markets shrink to 29
Vietnamese shrimp exporters now ship products to only 29 markets, down by 61 markets, or from 90 late last year, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).
Economic downturn discouraging consumers in many countries to use the product is blamed for the narrowing of Vietnamese shrimp export market.
VASEP said they are currently searching for new export markets for Vietnamese shrimp, adding that it is a difficult task due to fierce competitiveness from Thailand, India and Indonesia.
Due to the current economic slowdown, over the last four months, farmers in the Mekong Delta have stopped raising shrimp, resulting in a shortage of small shrimps in processing factories which currently have only large shrimps in stock.
Shrimp is the biggest forex export earning of Vietnamese seafood that has brought in more than US$1 billion in revenue per annum.
