August 14, 2006

Japan becomes top buyer of Vietnamese seafood

Japan has emerged as a major buyer of Vietnam's seafood as high tariffs and bond requirements kept exporters away from the US markets.

Vietnam's Fisheries Ministry said exports to Japan accounted for 23 percent of the total for the first six months of the year, as opposed to that going to the US at 18 percent. Exports to the EU, another major market, also came in at 23.2 percent

As for basa and tra catfish, Russia has become the top buyer at 15.6 percent of the total volume while the Polish market accounts for 12 percent and the US 4.6 percent.

Despite the difficulties experienced in the US, the Fisheries Ministry's International Co-operation Department director Vu Van Trieu said Vietnam would continue to maintain its presence in the US market, along with the EU and South Korean market. However, it would also look at opportunities to expand into China and non-European countries.