November 26, 2003

Vietnam Total Seafood Export Value Hit $2.09 Billion in Jan-Nov; 13% Rise On-Year

Vietnam earned an estimated $220 million from seafood exports in November, bringing the total seafood export value to around $2.09 billion in the January-November period in 2003, reporting an increase of 13% on-year, according to the Fisheries Ministry's source on November 25.

No details of the seafood export volume were disclosed, but major seafood products were frozen shrimp (116,000 tons, up 14.9% on-year), frozen fish (135,000 tons, up 12% on-year) and cuttlefish, octopus, dried cuttlefish and mollusks during the period.

The ministry said that Vietnamese seafood products have been exported to over 75 countries and territories worldwide with the large shipments to the US, Japan and the EU, China, Hong Kong and Taiwan.

However, the US lawsuit which charges many countries including Vietnam with dumping shrimps, is likely to be heard later this year and may put further pressure on exports, along with falling prices, said Nguyen Thi Hong Minh, Deputy Minister of Fisheries.

The Ministry has requested localities to speed up the rearing of high-quality seafood such as shrimp, crab and "gio" fish to boost exports and all materials supplied for processing factories should be accompanied by a certificate of origin from now to the end of next year, Minh added.

The total seafood output exploited during the period was estimated at 1.4 million tons while aquaculture reached 977,000 tons, up 3.4% on-year and 11.9% on-year, respectively.

Vietnam will boost seafood exports of around $200 million in December to meet export target of $2.3 billion this year.