August 13, 2012

Vietnam's June seafood exports to Egypt down 50%

Vietnam's seafood exports to Egypt in June dropped 50% on year to US$5.84 million.

The Ministry of Industry and Trade's Department of Africa, Western and Southern Asia attributed instability of seafood quality and price to the decrease.

In order to boost seafood exports to the market, Vietnamese firms have to improve quality of their products as well as select suitable forms of trading contracts to avoid being pressured by Egyptian importers to lower export prices.

Vietnam earned US$59.17 million from seafood exports to Egypt in 2011 and US$42.78 million in the first half of this year, according to the General Department of Customs.