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Export revenue of aquaculture products to increase PDF Print
Thursday, 05 May 2016 13:56

VIETRADE - Despite many awaiting obstacles, challenges in this year, fishing industry is forecasted to experience an increase in export value.


According to the Ministry of Agriculture and Rural Development (MARD),  April is the time for fishing season, the weather condition is favorable, the price of marine products are stable, facilitating the hustling and bustling offshore fishing activities. Besides, competent agencies help fishermen in accessing to credit for fishing boat construction, investing for machines, applying advanced technology in catching and preserving fish on board, which help improve the quality and value of the products. Accordingly, the quality and value of marine products increase. Fishing yields in the first four months was estimated at 1.05 million tons, up 3%, out of which, sea fisheries was estimated at more than one million tons, up 3.3% against the same reviewed period of last year.


Increase in fishing yields helps ensure the supplies for seafood processing and exporting. Statistics by MARD also noted that export revenue for seafood in April was estimated at USD 564 million, adding up to the total of USD 1.97 billion for the first four months of 2016, up 6.2% against the same reviewed period of 2015. After the continuous drop in 2015, this has been a positive signal for seafood exporters.


Vietnam’s key seafood import markets are the US, Japan, China and Korea, accounting for 51.47% of the total export revenue throughout the first four months of 2016. In the first quarter alone, export of seafood to several markets witnessed robust growth, such as: the US up 15.08%, China up 33.18%, Thai Land up 24.41% and the UK up 20.48% against the same period of last year.


Most of Vietnam’s seafood exports experience growth in value, in which shrimp and catfish, the key export items, grew 7.9% and 2.4% respectively. The rise in export value of shrimp recently can be attributed to the significant drop in yields at some of the largest shrimp exporters as Ecuador, India, Thai Land, negatively impacted by climate change, unfavorable weather conditions and epidemics…


Apart from the two key export items, shrimp and catfish, other sea fishes also experienced high growth rate in export value, increased 19.5% against the same period of last year. Still, some other items are losing their export values such as squid, octopus (down 6.2%) and tuna (down 5.5%) against the same period of the previous year.


Despite many encouraging achievements, according to VASEP, Vietnamese enterprises are under pressure when it comes to price competition in large export markets and hurdles from trade barriers…


However, VASEP’s forecast for seafood exports in 2016 would rise against that of 2015, thanks to the stable supplies and global financial recovery. Out of this, export of tuna is expected to gain USD 507 million, up 12%, squid, octopus to gain USD 470 million, up 10%, crab, surimi, and assorted sea fishes… to gain USD 1.3 billion, up 13% against the same period of 2015.


Shrimp export revenue during the second quarter of 2016 to large markets as the US, Russia, China and the EU is forecasted to rise thanks to increased prices triggered by the stabilized supply and demand. This can be translated into the forecasted USD 788 million of export revenue during the second quarter of 2016, up 10% against the same period of 2015, adding up to the total of USD 3.3 billion for export value during 2016, up 12% against that of2015.

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