July 30, 2012

 

Vietnam's seafood exports increase 10.6% in H1 2012

 

 

Vietnam's seafood exports exceeded US$2.89 billion in the first six months of 2012, achieving a 10.6% increase on-year.

 

This growth was lower than that of the same period of 2011, which stood at 28%, and is attributed to a shortage of capital and raw shrimp because of disease outbreaks at farms. Also, certain policies are thwarting seafood imports and exports and unfavourable conditions are affecting importing markets.

 

In June, the seafood export value to the five largest importers in the EU (Germany, Italy, the Netherlands, Spain and France) dropped while in May exports to Spain rose by 3%. Exports of shrimp and pangasius (tra fish) to the EU also fell.

 

As the European economic crisis continues to worsen, the Euro has slumped to the lowest level in two years. Exports sank by 19.7% in June and 12.7% through June 2012 and continue falling.

 

Seafood sales to the US in June and through the first half of the year still rose but growth was lower than during the same period of 2011 (nearly 50%).

 

Tra fish exporters agreed to levy a minimum price of US$2 - US$2.2 per pound on pound to the US for the remainder of the year to ensure fair competition and regain value for the Vietnamese product. According to the US Customs, frozen Vietnamese pangasius fillets were priced at US$3,480 per tonne in June, down 4% over May, VNA/VNS reports.

 

To apply for a floor price, said VASEP General Secretary, Truong Dinh Hoe, the association had asked the Ministry of Agriculture and Rural Development (MARD) to require tra exporters to register export contracts with VASEP before shipping out consignments. This regulation will go into force on August 1.

 

Since early 2012, seafood imports to Russia have been slipping. In June, seafood exports to Russia skid by 75% with US$3.3 million once the country applied a policy on reducing fish imports and boosting domestic fish production.

 

In May, Russia imported US$40 million worth of seafood, a drop of 28.8% compared to May 2011. During the first five months of 2012, imports reached US$156.5 million, down 16.3% versus 2011.

 

In June, tuna exports reached US$55.5 million, climbing 88% on-year and constituting the highest growth during the first half of the year despite high prices.

 

Pangasius exports in June stood at US$134.05 million, falling 14% from 2011 and, in the first six months, exports hit US$853.6 million, up a mere 3% over 2011.

 

MARD has sent the Prime Minister a report on pangasius production and suggested policies to help develop the industry, demanding that relevant agencies control aquaculture planning to streamline fish production and distribution in the Mekong Delta.