November 1, 2005

EU demand for Vietnamese seafood up significantly

EU demand for Vietnamese seafood has been up significantly since the start of October. Agifish General Director Ngo Phuoc Hau said his company did not have adequate seafood supplies for EU importers, following an unexpected rise in volume ordered from September. The company also had to turn down requests from EU importers during mid-October, for deliveries within the month through export contracts.

Another Vietnamese seafood processor said it received many orders from EU importers lately, and was raising its production capacity to keep up with the increased demand.

Vietnamese shrimp, basa catfish, and processed products were highly demanded by EU importers.

Industry feedback stated that recent concerns over bird flu had led many EU consumers to switch from poultry to seafood. The significant seafood shortage in European markets that resulted, led EU importers to step up orders to Asian countries.

Other industry feedback also stated high EU demand for Vietnamese seafood should encourage domestic exporters to increase their exports.

Meanwhile, industry reports expected domestic seafood prices to rise in light of the surge in seafood exports during the end of this year.