Vietnamese '09 dried seafood exports grow 32%

Dried seafood exports boomed last year to 41,600 tonnes, worth US$155.6 million, up 32% in volume and 10.9% in value despite a sluggish start to the year.

According to the Vietnam Association of Seafood Exporters and Producers (VASEP), in the first half of last year, dried seafood exports were down on the previous year, which the association blamed on the global economic downturn.

However, from July, dried seafood exports increased compared to the same period of the previous year, despite a general decline in the market.

Last year, South Korea, the US, Taiwan, Japan and ASEAN countries were major importers of Vietnamese dried seafood products, accounting for more than 80% of total exports, VASEP said.

South Korea was the biggest single importer, accounting for 11,697 tonnes of dried seafood imports, worth US$59.12 million, followed by the US, which saw imports rise by 81.8% in value against the previous year; Japan (56.6%); Taiwan (36.5%) and ASEAN (2.9%).

Meanwhile, the value of dried seafood exports to Russia and Ukraine declined by 76.3% and 65.8%, respectively, in 2009.

The association said total seafood exports were worth US$4.25 billion last year, a decline of 5.7% against 2008.

Meanwhile, seafood exports are expected to be worth US$4.5 billion this year, but offsetting profits means increased cost of shipping, which is expected to rise by 5%, and higher interest rates.