July 1, 2009

Vietnam seafood exporters are expected to generate US$1.3 billion from pangasius shipments this year, up US$300 million against figures given in early May by the Vietnam Association of Seafood Exporters and Producers (VASEP).

Pangasius exports are seen to increase from potential huge markets of Eastern Europe and African regions.

Duong Ngoc Minh, general director of Hung Vuong Seafood Joint Stock Company, said demand from the Eastern European market has increased four times over the same period last year.

Chile and Peru are also increasing its demand, while Mexico has raised its import volume two-fold. Some African countries have raised ordered volumes by ten, Minh added.

A recent decision by Russia to halt fish imports from Chile, Canada and China, meanwhile, will bring more opportunities to Vietnamese fish exporters.

Exports of pangasius fish to the Russian market have picked up since early this year. Over 10,000 tonnes of the fish were exported within May and June while the figure is expected to be 15,000 tonnes next month.

Deputy Minister Luong Le Phuong, who is also the head of the Committee for Fish Exporting to Russia said demand, will be 70,000 tonnes of pangasius fish for the rest of this year.

A delegation of the committee will visit Russia in late June to sign export contracts for July, August, and September of this year, said Phuong.

After the contracts are signed, Vietnamese enterprises will collect fish from farmers at prices of VND500-VND1,000 per kilogramme higher than the current price, which stands at $3.1 per kg.

Vietnam was estimated to bring in a total turnover of US$477 million from pangasius exports in the first five months this year, down 4 percent on-year.