July 6, 2011

Vietnam's seafood exports increase in H1

In spite of unfavourable weather and costly input materials prices, Vietnam earned US$2.58 billion from seafood exports from January-June this year, an on year rise of 28%, said fisheries experts.

Double digit growths in both volume and value were recorded in seafood exports to the EU, US, Republic of Korea, ASEAN, Mexico and Canada.

Shrimp was the leading product with on year rises of 36% in value and 17.5% in volume, followed by tuna with on year increases of 34.3% in value and 11.1% in volume and tra fish, up 24.7% in value and 4.7% in volume.

Vietnam's seafood exports value is expected to maintain its record of US$5 billion this year due to the increasing world seafood demand and the reduction in seafood supply in a number of countries.

To achieve the target, the fisheries sector will continue its investment in material production with priorities to shrimp, tra fish, tuna and mollusc. The sector will also promote trade promotion activities abroad, fasten the link in aquaculture, renew technology and enhance the inspection of seafood safety quality.

The Fisheries General Department will ask the Ministry and Government to add more capital, coordinate with relevant agencies in attracting investment into fisheries programmes and put forward mechanisms to finance aquaculture development programmes to ensure enough supply for factories.