December 26, 2003

 

 

Vietnam To Compile Seafood and Marine Resources List in Early 2004

 

The Vietnamese Fisheries Ministry is currently compiling a comprehensive list of local seafood and marine resources. 

 

The ministry said the information to be published in 2004 would help Vietnamese seafood exporters distinguish between various types of seafood, promote uniformity in the fishing industry, and prevent the misbranding of seafood.

 

The list will include scientific and common names of seafood and acceptable market names for exported and domestically available seafood.

 

Deputy fisheries minister Nguyen Hong Minh conceded researching the catalogue was a daunting task due to the huge amount of seafood and marine resources available in the country.

 

This year, Vietnamese seafood has been shipped to 17 new overseas markets, taking the total number of destinations for Vietnamese seafood to 77 countries and territories, said the ministry.

 

The ministry credited the fresh seafood markets to the Vietnam Association of Seafood Exporters and Producers and seafood enterprises boosting their trade promotions this year, including participating in international fairs, exhibitions and workshops.

 

Among the new markets for the country's seafood are Laos, Papua New Guinea, Sri Lanka, Samoa and Burundi.

 

Seafood exports in 2003 were dominated by the US holding 38%; Japan 26.4% and mainland China and Hong Kong, 6.98%. These markets accounted for three-quarters of the country's seafood export value.

 

However, it noted the volume of Vietnamese seafood exports to these above markets declined this year compared to 2002.

 

Exports to Australia skyrocketed by 76%; the European Union by 60%, and Canada by 18%.

 

The EU is viewed as having huge potential, especially after it adds 10 members to its stable in 2004.

 

Frozen shrimp remains the major seafood export, its revenue for 2003 reached US$1.12 billion at November 20, accounting for almost half the total seafood export value, of this, nearly $500 million was spent by US importers.

 

The other major export product was frozen fish with $453 million or 20.9% of the total export value in the year's first 11 months, 5.8% higher than the same period last year.

 

Earnings from seafood exports stood at $2 billion by the first 11 months, with the country expecting to make $2.3 billion by year end, and $2.6 billion in 2004.