Last updated: Wednesday, March 29, 2017
Seafood Exports Maintain Growth MomentumPosted: Friday, November 04, 2016
According to the Ministry of Agriculture and Rural Development of Vietnam, seafood export value was estimated at US$687 million in October, pushing the value of seafood exports in the first 10 months to reach US$5.7 billion, up 5.9 per cent compared to the same period of 2015.
In particular, the United States, Japan, China and South Korea are the 4 leading importers of Vietnamese seafood in the first 9 months of 2016, accounting for 54.1 per cent of total seafood export value. In the first 9 months of 2016, seafood markets with strong growth included the Netherlands (14.4 per cent), the USA (14.3 per cent) and Thailand (10.8 per cent).
Increasing value in most key products
Estimated values of imported seafood products reached US$106 million in October, boosting the seafood import value of the first 10 months of 2016 to US$878 million, down 3.2 per cent from the same period in 2015. Vietnam imported much seafood in the first 9 months from India (accounting for 25.8 per cent market share), followed by Norway, Taiwan ( China), Japan and China, with market shares of 9.7 per cent, 9.3 per cent, 6.1 per cent and 5.9 per cent, respectively.
Shrimp farming is thriving with more orders from export markets. Specifically, the area of white legged shrimp in the Mekong Delta is estimated at 55,254 hectares, increasing by 17.3 per cent over the same period last year and the area of the prawn is estimated at 561,504 hectares (+2.1 per cent). The output of 135,844 tonnes estimated prawn (-10.0 per cent), while white shrimp estimated at 107,007 tonnes output (+ 4.1 per cent). The forecast in the last months of farmed shrimp production has risen considerably.
Apart from shrimp, the catfish exports also see many bright spots. According to the Vietnam Association of Seafood Exporters and Producers (VASEP), the recovery of market demand for shrimp and fish will push the seafood export this year to reach the projected goals.
In addition, other seafood items are also promising, with positive moves in the last months of 2016. Accordingly, in 2016, tuna exports is expected to reach US$500 million, up 10 per cent over the same period in 2015; and the octopus exports to reach US$450 million, up 5 per cent over the same period in 2015.
According to the VASEP General Secretary Truong Dinh Hoe, fishery exports in 2016 could reach more than US$7 billion, but in the conditions, the quantity and price of the exports to major markets are maintained. However, this is not easy since the large market is continuing to apply some technical barriers for most seafood products.
Improving quality, expanding markets
According to the VASEP, the most important solution to seafood export is improving quality and ensuring food safety, to penetrate deeper into all markets despite the strict requirements. The businesses should shift from price to quality, like no use of banned chemical or chemical abuse substances during breeding, preservation, processing and controlling raw materials before processing by adopting advanced manufacturing standards, to compete with other rivals.
Besides, to meet the needs of the export market, the businesses in the fishery sector are making their best efforts to promote trade activities, branding, market penetration potential, and consumption. The VASEP has promoted many field trips of the trade enterprises in many large overseas seafood fairs.
In addition, businesses are more active in approaching and negotiating with foreign partners to sign memorandum of cooperation between agencies in order to boost seafood exports, as well as solving commercial disputes or removing trade barriers and facilitating export promotion activities, to bring Vietnamese seafood to the world. This will contribute to the fishery sector in particular and to the agricultural sector in general, bringing Vietnam soon back to its rightful position in the export market in 2016.
The recent environmental incidents negatively affected the seafood exports. However, according to the quality management agency of the Southern Agro-forestry and fisheries, some banned substances of the aquaculture were not detected. In this round, only one fish product and two shrimp products had violations. Total number of the samples taken during this monitoring are 254, including shrimp, catfish, catfish, and tilapia, none of which have banned substance like methyl-testosterone, diethylstilbestrol, chloramphenicol, enrofloxacin, ciprofloxacin, nitrofurans, trichlorfon, trifluralin, and malachite green.