September 21, 2010

Vietnam's Mekong Delta seafood exports may rake in US$2 billion

Cities and provinces in the Mekong Delta region of Vietnam are estimated to earn nearly US$2 billion from seafood exports by September 15, accounting for 62% of the country's total seafood export revenues.

According to reports, exports of tra and basa fish, and shrimp contributed a majority to the region's seafood revenues.

Firms in the region exported more than 70,000 tonnes of shrimp, and 426,000 tonnes tra and basa fish during the period, reports said. Local farmers are breeding nearly 600,000 hectares of shrimp, and 6,700 hectares of tra fish.

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

Meanwhile, the US Department of Commerce (DOC) has made an initial decision on charging anti-dumping tariffs on imported Vietnamese pangasius from August 1, 2008 to July 31, 2009, said the Vietnam Association of Seafood Exporters and Producers (VASEP).

Vietnamese firms have to pay a high tax rate of US$4.22 per kg, a 100-120% jump from last year, even though the fish sells for a lot less than the tax in the American market. It is anticipated that, as a result, pangasius companies will suffer heavy losses as well as face additional barriers in the US market.