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Vietnam Industry News

Vietnam shrimp exports expected to reach USD3.1b

VIETRADE - Vietnam's shrimp exports in the first nine months of 2016 is valued at USD 2.2 billion, up 5.6 % compared to the same period last year, according to the Vietnam Association of Seafood Exporters and Producers (Vasep). Despite prolonged drought and saltwater intrusion, the shrimp industry has managed to stay afloat. According to Nguyen Xuan Cuong, Minister of Agriculture and Rural Development around 680,000 hectares (1.68 million acres) of land has been used to farm shrimp this year, down 1.4 percent against 2015, but total output could hit 680,000 tons, up 14 percent on-year. Even though the country lacks shrimp supplies in the remaining months of this year due to the impacts of saltwater intrusion, making VASEP to lower the export forecast by 300 million USD, Vietnam shrimp exports by the end of 2016 is still expected to reach USD 3.1 billion, up 3.3% year on year, raising the total seafood export value to more than $7 billion.

Vietnam needs to improve cashew’s quality to expand market share

VIETRADE – Vietnam, the world’s largest cashew nut exporter, could gain a bigger market share by improving product’s quality thanks to rising global demand for cashew, trade experts have said.

Vietnam’s tilapia exports estimated to reach USD45m

VIETRADE - The Vietnam Association of Seafood Exporters and Producers (VASEP) estimates that the country’s tilapia exports will reap a revenue of USD 45 million this year, 32% higher than the previous year.

Vietnam to supervise shrimp production chain for export

VIETRADE - In the first half of this year, shrimp output reached 191,000 tones. The Vietnam Seafood Exporters and Processors early this month forecast that Vietnamese shrimp exports would top US$3 billion this year, after achieving $1.4 billion in the year’s first half (VNS). The Minister of Agriculture and Rural Development Nguyễn Xuân Cường said that it was necessary to identify shrimp as a national strategic export product to boost farming, enhance quality and build a globally-recognized Vietnamese shrimp brand (VNS). At a recent conference which gathered shrimp producers and processors from 28 coastal provinces and cities, Cường said that Vietnam had a large potential for shrimp production. However, scattered farming, shortage of quality raw materials together with the lack of a comprehensive development strategy and value chain were blocking its potential, Cường said. In addition, boosting shrimp farming turns out to be a good choice for Vietnam’s agricultural production as it could turn the salt intrusion in the Cuu Long (Mekong) River Delta into an opportunity. He urged local authorities to enhance management towards all shrimp farming stages, from breeding to disease prevention, while shrimp farmers apply new farming techniques and technologies to improve shrimp quality.

Vietnam aims to become global seafood processing center

VIETRADE - Vietnam’s fishing and aquatic processing sector has posted an annual average growth of about 15% in recent years, significantly contributing to the national gross domestic product (GDP) and export, said Vice Chairman of the Vietnam Chamber of Commerce and Industry (VCCI) Vo Tan Thanh.  After a long time failed to match its potential due to low-capacity vessels and out-of-date equipment, Vietnam’s seafood processing sector is likely to become a global seafood processing center in the future thanks to its competitive labor cost and increasing number of high-quality processing facilities, reported a local daily quoting General Secretary of the Vietnam Association of Seafood Exporters and Producers (VASEP) Truong Dinh Hoe. According to a VASEP source, Vietnam is currently one of the biggest seafood processing countries – for Pangasius, the country is No. 1, while for shrimp exports Vietnam is ranked No 5; for tuna exports Vietnam is also in the Top Ten. Vietnam is about to hit 4.5% increase in fisheries exports in 2016 after sales to overseas markets fell by US$1.2 billion in 2015. There have been administrative reforms and restructuring of the seafood sector in favor of advanced technology transfer and application, as well as encouraging foreign investment in Vietnam.


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