Aquatic product exports expected to reach US$7billion

Though exports have risen, aquatic exports may face several problems in the last half of the year, and exporters have been warned to meet strict standards on hygiene and other matters, including in key markets like the US, Japan and the EU.

Ngo Van Ich, chairman of VASEP, attributed the problems to heavy reliance on imported materials from foreign markets as well as an imbalance between aquatic rearing and processing.

Ích said a number of Vietnamese exporters, especially shrimp and catfish exporters, would continue to be hurt by anti-dumping tariffs imposed by the US and other import markets.

The ongoing drought and saline intrusion are still affecting aquatic production. Tonnes of fish have died not only in the central region but also in the Mekong Delta, according to VASEP.

In addition, the EU is expected to face more difficulties due to currency depreciation and negative information about the Eurozone, which will affect Vietnamese aquatic exports.

The Ministry of Agriculture and Rural Development and VASEP told affected enterprises to prepare measures to access stricter import markets like the US, the EU and Japan.

Of the total US$7.1 billion expected in seafood exports this year, shrimp exports are expected to reach US$3 billion, a rise of 10%, and catfish, US$1.6 billion, a drop of 4% over last year.

Total exports of tuna are also expected to increase, to US$500 million, by year-end, up 10%, and cuttlefish and octopus, up 5% over last year.  

First six months

Exports of aquatic products to China rose significantly in the first half of the year, reaching $384 million, a surge of nearly 43% over the same period.

In recent years, Vietnamese exporters have shifted from stricter markets to China, which accounts for 9% of total aquatic exports. Major exports to China are tuna, catfish and shrimp.

According to VASEP, aquatic exports reached US$3.15 billion in the first half of the year, a rise of 4% over the same period last year.

Of this figure, shrimp exports reached US$1.35 billion, a rise of 4.8%, and catfish, US$790 million, an increase of 5.4% over the same period.

Meanwhile, exports of cuttlefish and octopus totalled US$179 million in the first half of the year, a drop of nearly 10%. Also, exports of tuna reached US$225 million, equal to the corresponding period last year.  

Other aquatic exports reached more than US$511 million, up 7.6%.

Vietnam exports aquatic products to 144 countries and territories. The top five export markets are the US, the EU, Japan, China and the Republic Korea, accounting for 70% of the country’s total export value of aquatic products.

The US tops the export market, which accounts for 21% of total exports, with export value of US$646 million in the first half, a rise of 10.7% over the same period.