April 14, 2011

 

Vietnam forecasts rise in seafood exports

 

 

Vietnam's Ministry of Agriculture and Rural Development has increased its export forecasts for several key agricultural staples in its latest market report, including seafood.

 

The ministry reported its optimism in agricultural exports this year despite unfavourable weather conditions and increasing input costs, as rice, seafood, coffee and rubber would help increase the country's agricultural exports.

 

Seafood exports are forecast to reach US$5.7 billion to US$5.8 billion this year, US$200 million higher than previously anticipated in December. Pangasius fish alone could earn the country up to US$2 billion, up US$300 million compared with December's forecast, the ministry said.

 

"A further rebound of the world's seafood consumption and the increasing cost of foodstuffs would contribute to boosting seafood exports for the rest of the year", said the ministry.