Seafood export turnover expected to hit US$ 8.3 billion
Vietnam’s seafood export turnover is expected to reach US$8.3 billion this year, posting an 18% increase over 2016, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).
Statistics released by the association showed that in the first 11 months of the year, the country’s seafood export turnover was estimated at more than US$7.6 billion, representing an increase of 18% year-on-year. In November alone, export turnover rose by 11% from the previous month to reach US$733 million.
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| Shrimp being processed for export (Source: baocongthuong.com.vn) |
Specifically, the shrimp export turnover was US$3.5 billion in the January-November period, increasing 22% from the corresponding period last year. The tra catfish turnover posted a 5% year-on-year rise to US$1.6 billion. The product’s turnover this year is expected to reach US$1.8 billion, or a 4% increase from last year.
The tuna export turnover in the period increased by 19% from the same period last year to US$541 million, and is predicted to earn US$600 million this year. Exports of squid and octopus in 2016 reached US$565 million, up 48%, and are expected to reach over US$600 million, up 37% over 2016.
The market has seen slow growth in recent months. Seafood exports to the European Union (EU) are forecast to continue reducing this month due to the effects of the EU’s warning about illegal, unreported and unregulated (IUU) fishing.
The Ministry of Agriculture and Rural Development has reported that the seafood output in the first 11 months of the year reached over 3 million tonnes, representing a 4% year-on-year rise.
The aquaculture output in November was 345,000 tonnes, bringing the total output in 11 months to 3.51 million tonnes, up 8% from the same period last year.
The ministry said tuna output in the three central coastal provinces was 17,390 tonnes, including Binh Dinh at 9,700 tonnes; Khanh Hoa at 3,806 tonnes and Phu Yen at 3,976 tonnes. The price of tuna ranges from VND96,000 (US$4.2) to VND115,000 per kilo.
The tra catfish aquaculture area in the Cuu Long (Mekong) Delta region in the first 11 months of the year also rose by 2% from last year to 5,822ha, and output of over 1.2 million tonnes. Dong Thap province has the highest output of 436,000 tonnes, up 1.4 percent from the corresponding period last year. It was followed by An Giang with 258,000 tonnes and Can Tho with 171,500 tonnes.
The price of tra fish was stable last month at VND26,000-VND28,000 per kilo.
The shrimp aquaculture area also continued to increase to 562,000ha and output of 237,600 tonnes.