Seafood exports enjoy favourable conditions in Q4

(VOV) -Seafood export earnings are expected to hit around US$6.5 billion this year.

The Ministry of Agriculture and Rural Development estimates seafood exports reached US$500 million in September, bringing the total export value over the past nine months to US$4.5 billion, 3.5 percent more than the same period last year. 

The US is the leading importer of Vietnamese seafood products, accounting for 19 percent of the total market share, followed by Japan (15.1 percent), and the Republic of Korea (7.9 percent). 

seafood exports enjoy favourable conditions in q4 hinh 0

The key tuna and crab exports were the only ones to rise, by 51.6 percent to US$414 million and by 13.2 percent to US$74.9 million respectively. Other seafood product exports declined, including shrimp - down 3.6 percent to US$1.5 billion - and tra fish - down 1.2 percent to US$1.2 billion. 

The seafood sector is still recovering from a number of recent difficulties. Stock shortages and prolonged shrimp disease hit the sector particularly hard. Around 300 seafood processing factories were forced to close. 

Tra fish and shrimp import volumes are expected to increase during the remainder of 2012 as the Christmas and New Year holidays are drawing near. The upcoming harvesting season means seafood material for processing will also be abundant.