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Seafood Continues to be Key Export Item for Viet Nam

06 March 2014

VIET NAM - In February 2014, Vietnamese exports of agricultural, forestry and fishery products are estimated to have reached $2.08 billion, leading exports in the first two months of the year to increase by 9.4 per cent year on year to $4.33 billion, according to Vietnam Ministry of Agriculture and Rural Development (MARD).

This year, seafood continues to be the key export item of the Vietnamese agricultural sector with an estimated export revenue of $335 million in February, reports Vasep.

In the first 2 months of the year, seafood sales brought back $919 million, up 23.5 per cent year on year, while earnings from agricultural exports were down 20.5 per cent to $1.73 billion.

The US remains the leading seafood importer of Viet Nam, representing 26.67 per cent in total export value. In January 2014, this market sourced $155.6 million of seafood products, up 89 per cent year on year.

Shipments to Japan, Korea, and Australia also got considerable growth of 31.45 per cent, 29.27 per cent and 17.85 per cent, respectively. Some other countries saw drop like China (-37.79 per cent) and Thailand (-7 per cent).

Raw material imports keep hiking

Besides, imports of raw material into the country reported a sharp increase. In February, import value of seafood is estimated to be $85 million. The two-month figure totaled $185 million, up 115.5 per cent against the same period of last year.

Marine fish landings up, farmed fish production down

According to MARD, Viet Nam’s fish production in February this year is estimated to reach 369.7 thousand MT, up four per cent year on year. The figure in the first two months of the year is estimated to reach 768.8 thousand MT, up 2.3 per cent year on year.

Aquaculture output hit 323.6 thousand MT, down 0.3 per cent. Capture output registered 445.2 thousand MT, up 4.3 per cent in which marine catch jumped by 4.7 per cent to 419.4 thousand MT.

Aquaculture production in February is gauged to be 140.8 thousand MT, down 1.5 per cent year on year.

Pangasius farmers continue to meet difficulties due to lower raw fish price and decreased output. Prices of raw fish has not increased from the previous month so farmers has no interest in keeping the fish farms, leading to decreased farming areas and production.

Farming shrimp and other aquatic species witnessed stability. The provinces in the country are stocking whiteleg shrimp and black tiger shrimp under innovated extensive model and preparing ponds for new crop of black tiger shrimp.

The capture production hit 228.9 thousand MT in February, up 7.8 per cent year on year, of which marine catch increased by 8.6 per cent to 215.3 thousand MT.

Some provinces caught high volume of fish such as Kien Giang of 73,790 MT, Ninh Thuan 33,500 MT, 17,200 MT of Binh Thuan, Vung Tau 43,183 MT, Bac Lieu 17,914 MT and 28,500 MT of Ca Mau.

TheFishSite News Desk

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