December 30, 2004

Vietnam's Seafood Exports Falls Short Of 2004 Target

Vietnam's seafood exports are expected to fall short of its target for the second consecutive year, according to the Ministry of Fisheries.

In a report released last Friday, the ministry estimated exports at US$2.35 billion against a target of $2.6 billion. They represent a year-on-year rise of 6.01 per cent.

While exports to the US plunged 29% to $473 million because of the anti-dumping duties on catfish and shrimp, exports to the European Union (EU) and Japan jumped by 89.7% and 30.9% respectively. As a result, Japan overtook the US as the largest buyer, recording $662 million worth of imports.

Exports to the US were worth $473 million and to the EU, the third-largest buyer, $197 million. Mainland China and Hong Kong followed next, according to the ministry report.

Shrimp remained the highest export earner with volume reaching 300,000 tons. This is an increase of 15.5%, followed by fish, cuttlefish and octopus. More than 71,500 tons of tra and basa catfish were exported for over $240 million.

Vietnam shipped its seafood to 80 countries and territories in 2004. According to the ministry, the decision by the US to lower preliminary tariffs somewhat helped Vietnamese shrimpers to compete in that market.

The country's seafood output included 1.47 million tons from fishing and 1.35 million tons from aquaculture, up 2.7% and 12.1% respectively. Basa and tra output rose 42.9% to 315,000 tons. The total area under aquaculture increased to 1.1 million ha, 5.3% more than 2003.