March 25, 2013

Vietnam's February seafood exports down 31%

In February 2013, Viet Nam's seafood export declined 30.8% as its total seafood export for the first two months of the year is down 0.6% compared to the same period last year, reaching US$779 million.

In February, exports of fish dropped 39% and shrimp 33%. Export of these items reduced due to resource and market constraints, VASEP reported.

Meanwhile, tuna is still favourable, thanks to a source of raw materials from mining.

There was a significant decline in exports to the US, which fell by nearly 10%. To the EU they fell 33%, Japan 33%, Mexico 55% and China at least 23.5%.

Seafood forecast in March continued to reduce or slow down while shrimp exports will be difficult due to problems ethoxyquin test in the Japanese market has not been resolved, and the risk of anti-subsidy tariffs in the US market.

Meanwhile, Pangasius are facing major challenges and risk losing the US market after the US Department of Commerce (DOC) announced the results of anti-dumping in the first administrative review POR8 for Vietnamese catfish.