Vietnam eyes more catfish export markets

At a meeting in Vietnam earlier this week, members said that if a board is set up for other markets like Ukraine, Gruzia and Uzerberkistan, the volume of tra fish could equal that exported to Russia.

Russia closed its doors to Vietnamese seafood imports in 2008 over issues related to the quality of products. The Management Board for Seafood Exports (MBSE) to Russia was established later in the year to work toward recommencing trade with Russia.

According to the head of MBSE Duong Ngoc Minh, exports resumed last year after Russia approved Vietnam's efforts to improve product health and safety.

Efforts paid off with Russia agreeing to import seafood from 10 Vietnamese businesses. However, many Vietnamese exports who meet Russia's health and safety requirements for seafood have yet to be listed as suppliers of tra fish to Russia, the Board said.

This is because market shares for tra in the vast Russian market have yet to be expanded, the Board explained.

Earnings from tra fish exports to Russia are likely to reach around US$100 million this year, or 80% of total expected seafood turnover.

Last year, tra fish took the lead in seafood items exported to Russia, with more than 39,000 tonnes shipped for about US$64 million from May-December, the Vietnam Association of Seafood Exporters and Producers (VASEP) said at the meeting.

Russia is the only market where Vietnam tra catfish prices increased by 5-7% last year, while prices declined by 10-15% in other markets, said Minh.

Interestingly, after resuming seafood exports to Russia in May 2009, Vietnamese businesses saw turnover of US$80 million by year-end while earnings are forecast at US$120 million in 2010.