November 24, 2006

Vietnam seafood exports fulfils target

Vietnam's seafood exports had jumped 25 percent to US$3.08 billion in the first 11 months, fulfilling the year's target income, the Ministry of Fisheries reported.

The growth was attributed to high prices in the global market.

Product winners were frozen shrimps, cuttlefish, octopus, dried sea food and other fish products.

Other factors credited to the export growth were quality, trade promotion and enhancing the capacity to forecast world market prices.

The fisheries sector was already showing good signs in the first quarter of 2006 as it produced 3.4 million tonnes of seafood, posting an increase of 8 percent from last year's 1.5 million tonnes in the same period. In November, fisheries exports already reached US$320 million.

But the ministry also raised some concerns on some of its export markets.

Japan has once considered a complete ban on all Vietnamese seafood after they were found to contain antibiotics while Russia, upon learning Japan's predicament has agreed to do the same and will impose tests on all incoming Vietnamese shipments beginning January.

The Ministry is already implementing food hygiene safety control as demand from US and Japan is predicted to increase by next year.

The ministry is working with the People's Committees of Mekong Delta provinces to build and carry out an action plan on ensuring quality and fisheries material hygiene safety in 2006 before putting into production.

The country plans to increase its aquaculture acreage to 1.1 million hectares (ha)and output to nearly 2.1 million tons in 2010 from the current 980,000 ha and 1.5 million tonnes.