April 5, 2010

Vietnamese seafood exports surge 14.5%

Vietnam exported a total of US$861-million worth of seafood in the first quarter of the year, a jump of 14.5% on-year, according to the General Statistics Office (GSO).

In March alone, exports rose by US$92 million over the previous month to a total of US$320 million, the GSO said.

Catfish and frozen shrimp were key export products in the first quarter, with a total export value of US$312.6 million, reported the Ministry of Agriculture and Rural Development, with tra and basa catfish exports reaching a value of US$184.3 million on a volume of 87,000 tonnes, and frozen shrimp exports a value of US$128.3 million on a volume of 14,670 tonnes.

The EU remained the leading export market, buying up US$133.8-million worth of Vietnamese seafood in the first quarter despite the impact of new regulations on certificates of origin. Japan and the US followed, with export values of US$93.8 million and US$89.7 million, respectively.

Seafood exporters were confident of reaching this year's export target value of US$4.5 billion, said Truong Dinh Hoe, general secretary of the Vietnam Association of Seafood Exporters and Producers (VASEP), with new export markets being sought in Eastern Europe and North Africa.

Vietnamese seafood sector faces challenges that include import barriers and fierce competition among other exporters in terms of price, quality, delivery and payment conditions, Hoe added.