Vietnam Forecast to Export US$1.2B-US$1.3B Seafood Product This Year: VASEP

Vietnam is forecast to export US$1.2 billion and US$1.3 billion worth of pangasius this year thanks to growing demand in the world market, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).

 

The VASEP notes that the world’s demand for pangasius for the rest of 2009 will rise 2 or 10 times compared to a year earlier.

 

The VASEP said as of late Aug. 2009, Vietnam exported US$860 million, down from US$928 million in Jan-Aug period of 2008, accounting for 25% of the country’s total seafood export revenue.

 

EU remained the biggest importer of Vietnamese pangasius, importing more than US$355 million. The U.S. and ASEAN region surpassed Russia and Ukraine to become the second and third biggest importers with US$82 million and US$58.8 million. Meanwhile, export to Ukraine reached US$47.7 million and to Russia US$43 million.

 

Despite high export revenue, Vietnamese pangasius farmers are selling their fish for low prices at VND13,500 and VND15,500/kilo, while the production cost is VND15,500/kilo.

 

The newspaper reported that 70%-80% of pangasius growers in An Giang province are at lost while in Ben Tre province, farmers are working without profit.

 

Farmers also hardly get financial assistance from banks because banks consider their business as high-risk one.

 

Vietnam now has 5,154 hectares under pangasius farming, up nearly 600 hectares on year. The country caught 457,000 tons of fish as of late Aug. (Vietnam Agriculture)