May 3, 2007

Good run of Vietnam's seafood exports may be hampered over raw material shortage

Vietnam's flourishing seafood industry has earned exporters US$300 million in April which boosted total seafood export revenues of US$1 billion on the first quarter of the year, posting a year-on-year increase of 21 percent.

However, the introduction of new processing facilities in the Mekong Delta, fish catch in April has failed to meet requirements and some aquaculture processors were forced to import raw materials for processing in order to fulfil their delivery responsibilities.

Minister of Fisheries Ta Quang Ngoc said that a continued shortage of seafood in the first months of the year would be a barrier for the sector's export growth.

The Fisheries Ministry said it would take specific measures to maintain production targets for tra and basa catfish that has seen growth in the Russian and EU markets.