February 9, 2007

Vietnam seafood exports post 8 percent increase in January

Vietnam's seafood exports month increased 8.2 per cent year-on-year to US$192 million in January due in part to a seasonal rise in demand, according to the Ministry of Fisheries.

Companies exported last month 47,470 tonnes of seafood, including 8,500 tonnes of frozen shrimp, 4,370 tonnes of cuttlefish and octopus, and 26,000 tonnes of fish.

Despite declining prices in the local market, shrimp farmers were able to sell their goods to the US at US$12.70 a kilogram. In Soc Trang Province, shrimp sold at VND155,000 (US$9.69) a kilogramme, down by VND10,000 (US$0.62)to VND15,000 (US$0.93) against prices in mid-December.

Meanwhile, the price of tra and basa catfish surged on a month-on-month comparison. Officials attribute the trend to rising demand during the Christmas to Tet festive season as well as limited supplies from local fish farms.

Despite the increase in the overall export value, revenues were kept in check by new hygiene standards imposed by Japan.

Deputy Fisheries Minister Nguyen Hong Minh has urged companies to improve quality and hygiene controls, given Japan is not the only country tightening inspections. Russia and Australia are also requiring new safety checks before imported seafood products enter their market.