January 8, 2011

Vietnam's shrimp export value exceeds US$2 billion

Vietnam's shrimp exports were worth more than US$2 billion last year, 20% up and the highest ever achieved by the country, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).

Around 240,000 tonnes were exported, a 15% increase in volume.

Truong Dinh Hoe, VASEP general secretary, said the sharp growth last year was mainly due to a 30% spurt in export of white-leg shrimp. Export of the creature was estimated at US$500 million. Last year, white-leg shrimp was farmed on 25,000 ha, 30% more than in 2009.

VASEP said shrimp prices had risen due to several reasons like the oil spill in the Mexican Gulf off the US, the economic recovery in some main markets, and a fall in output.

Vietnam exported shrimp to 92 markets, most of which increased their purchases. Japan was the biggest, buying 27.8%, followed by the US (26.9%) and the EU (16.2%). Mainland China and South Korea were also promising markets, VASEP said.

In 2011, shrimp exports are again expected to top US$2 billion. The association eyes revenues of US$3 billion by 2015.

Deputy Minister of Agriculture and Rural Development Luong Le Phuong said seafood processors would work closely with farmers to produce quality shrimp and eliminate traces of the antibiotic trifluralin in their export produce.

VASEP members recently signed an agreement with the My Thanh Shrimp Association based in Mekong Delta Soc Trang Province to buy clean shrimp for export.