January 21, 2008

Vietnam's frozen shrimp exports reap US$1.5 billion in 2007

Vietnam generated US$1.5 billion from exporting 160,000 tonnes of frozen shrimp in 2007, a rise of 2 percent in value despite a decrease of 0.68 percent in volume against 2006.

Vietnam General Customs Department said that revenues accounted for 40 percent of the country's total seafood revenues in 2007, which was at US$3.75 billion.

The average export prices of Vietnamese frozen shrimp were US$9.6 a kilo last year, an increase of US$0.45 a kilo over that of 2006. The average prices in December were US$8.93 a kilo, dropped US$1.5 a kilo compared to that of the same period a year earlier.

Vietnamese frozen shrimp products were exported to 46 countries, mostly to EU and Asia. Japan ranks as the primary customer, accounting for 34.8 percent in volume and 32.31 percent in values.

The US purchases 24.35 percent of the shrimp volume; South Korea 6.34 percent; Canada 3.61 percent.

Vietnam aims to export around 8,700 tonnes of frozen shrimp in the first quarter of 2008.

The National Fisheries Quality Assurance and Veterinary Directorate (Nafiqaved) and local companies have strived to prevent and control diseases of shrimp in aquaculture areas.