December 12, 2013

Vietnam's Bidifisco seafood exports reach US$29.5 million

Vietnam's Binh Dinh Fishery Joint Stock Company (Bidifisco) exported US$29.5 million of seafood products through October 2013, 60% of which was tuna and the rest was other marine fish products.

The company's frozen tuna products were shipped to the US and the EU markets. In which, the EU consumed 70% of export volume.

Bidifisco expected to reach US$33 million of total seafood exports this year, increasing by 3% from 2012 and fulfilling its yearly target.

Due to bad weather, fishing boats from central provinces of Vietnam have been tied in shore. There has currently been lack of raw tuna and marine fishes in the domestic market, the reason why Binh Dinh Fishery Joint Stock Company (Bidifisco) only processed products from imported source for inventory.

Among three fishing provinces in the centre coastal area, Binh Dinh has the largest number of fishing boats, which provide huge fish catch. Over the recent years, hand line fishing using lights have been popular in Vietnam tuna fishing sector. It is noted that this method helps fishermen to reach an effective-cost and high fish volume.

However, the 2013 tuna production will be 30–40% lower than that recorded in 2012. It is more difficult to catch tuna, as the fish is familiar with the old method. Bidifisco said that imported raw material made up of 60% of total exports. Half of the outside sources were tuna products.