September 9, 2010

Vietnam's 2010 seafood exports to earn US$4.78 billion

The Ministry of Agriculture and Rural Development has forecasted that Vietnam will likely earn US$4.78 billion from seafood exports in 2010, rising from US$4.25 billion on-year.

The ministry said that seafood export value will soar in the rest months of this year thanks to high export prices, which are supported by the global thin supply.

Vietnam has exported seafood worth US$480 million in August, raising the eight-month figure to US$2.9 billion, up 12.95% on-year. Vietnamese firms shipped 204,600 tonnes to the EU in the first eight months, earning US$621 million, up 5% in volume and 7% in value.

According to the ministry, the EU remained as the leading export market for Vietnamese seafood, followed by the US and Japan. The EU market accounted for 28% of the seafood industry's total export volume and 25% of the total value during the period.

The US, however, was the leading buyer of tra fish, whereas Japan was the leading export market for shrimp.