August 30, 2010

Vietnam seafood export rises 11.8% in Jan-Aug 2010

According to the General Statistics Office (GSO), Vietnam is estimated to have exported US$430 million worth of seafood in August, raising the Jan-Aug figure to US$2.918 billion, up 11.8% on-year.

On the other hand, Vietnam's import of aquatic products and seafood rose only 8.2% to US$201 million during the period, the GSO added.

The import, however, is forecasted to soar in the remaining months of this year because local seafood processing plants are suffering from serious shortage of input materials.

The Vietnam Association of Seafood Exporters and Producers (VASEP) said that the material shortages have forced the plant to run at only 50% of their designed capacity.

Prices of input materials have soared in recent weeks in the Mekong Delta, with prices of prawn increased 2.7% from a week earlier to VND190,000 (US$9.77) per kilo.