Seafood exports soar 25% to US$1.3 bil

VIETNAM - Vietnam earned US$1.34 billion in revenue from seafood exports in the first half of this year, a 25.4 per cent increase year-on-year, according to Fisheries Minister Ta Quang Ngoc.

Viet Nam’s key export markets include the EU, the US, Japan, China and South Korea. Over 170 enterprises export to the EU market, a figure expected to rise to about 200 over the next few months. About 300 export to the US and 295 firms export to China.

While demand and export prices have remained high, the cost of raw materials has also gone up, putting the pinch on many processors.

Frozen, dried, canned and other processed seafood is processed at 439 facilities nationwide, of which 300 apply the Hazard Analysis and Critical Control Point (HACCP) system to meet quality and hygiene standards of demanding export markets.

Japan, which currently accounts for 31.4 per cent of total export value of the seafood industry, recently announced that it would more strictly inspect some agricultural and seafood products imported from Viet Nam from July 2006 until the first quarter in 2007.

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Source: Asian News Network

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