September 7, 2011

Vietnam lowers seafood exports

The forecast of the Ministry of Agriculture and Rural Development on Vietnam's seafood export in 2011 has been lowered to USUS$6 billion, down USUS$100 million as compared to the previous forecast, according to the media.

The ministry said the country's export revenues from seafood will decrease as many domestic processing plants face raw material shortage and foreign demand for this kind of food is shrinking.

Although the demand for seafood products of EU, the US, Russia, China and Southeast Asia markets remained high, the demand for those products of Japan, the country's biggest seafood buyer, saw a serious decline, the ministry added.

Vietnam's total seafood exploitation output in August 2011 was estimated to reach 254,000 tonnes, bringing the total figure in January-August to 1.73 million tonnes, up nearly 1% from the same period last year, of which fish output reached 1.619 million tonnes.

Meanwhile, the aquaculture production output in August was estimated to reach 282,000 tonnes, bringing the total figure in the first eight months of this year to 1.845 million tonnes, rising 5.3% on year, of which fish output reached over 700,000 tonnes.

Vietnam's export turnover for seafood products in the first eight months of this year reached US$3.7 billion, up 24.4% on year.

The export turnover increased sharply in large foreign markets, such as the US, China and Italy, with 42.7%, 57.3% and 45.1% on year rise respectively.