August 26, 2008

Vietnam's seafood export turnover increased by 20 percent to US$2.4 billion in the months of January to July, said the Vietnam Association of Seafood Exporters and Processors (VASEP).

Of the total, frozen-shrimp export accounted for 32.8 percent, with tra and basa catfish at 31.9 percent.

In July, Vietnamese processors exported over 136,000 tonnes of seafood, worth around US$476 million, according to VASEP.

Russia remains a large market for Vietnamese seafood exporters. Last month, catfish export turnover to Russia totalled US$38 million, 64 times higher than the same period last year. Exports to Ukraine reached US$22 million in July.

Export to the EU, Japan and South Korea also enjoyed growth rates of 17.23 percent, 41.72 percent and 23.85 percent, respectively.

Furthermore, the US Department of Commerce recently exempted three Vietnamese tra catfish export and processing companies, East Sea Seafoods Joint Venture Co Ltd (ESS), QVD Dong Thap Food Limited Company (QVD Food Co) and Anvifish Co Ltd, from anti-dumping tariffs, a move expected to boost exports.

"If that is the case, this year's seafood export target of US$4.25 billion is realistic," said VASEP standing vice president Nguyen Huu Dung.

Five seafood exporters in the Cuu Long Delta, Nam Viet Co, Agifish, Hung Vuong, Vinh Hoan and Cafatex Co, will collectively raise export prices by 5 percent to prevent more dumping, according to Agriculture and Rural Development Deputy Minister Luong Le Phuong.

Meanwhile, the deputy prime minister Hoang Trung Hai ordered the State Bank to release capital to commercial banks so that loans for seafood processors are available.

Hai also required the Vietnam Electricity Group (EVN) to guarantee a stable power supply for seafood processors.