Vietnam Targets Seafood Exports at US$2.6Bln in 2005

Vietnam Targets Seafood Exports at US$2.6Bln in 2005

Vietnam’s fisheries sector has set a target for 3.3 million tons of seafood products and a total export turnover of US$2.6 billion this year, up 8.7 per cent against 2004.

The figures were released at a meeting in Hanoi on January 12 by the Ministry of Fisheries to review their work in 2004 and discuss measures to carry out plans for 2005.

To reach the target, the sector will develop the ability to forecast demand and prices on export markets and collect information about those markets for Vietnamese exporters and farmers, Nguyen Thi Hong Minh, Deputy Minister of Fisheries said.

Besides maintaining current export markets, the sector also pay attention to opening more export markets in the Middle East, Eastern Europe, Africa and South America, building national trademarks of its three main seafood products of shrimp, catfish and tuna.

This year, the sector focuses on the continued shifting of production structure towards giving more priority to exports, developing aquaculture for exports, controlling quality and hygienic safety at production establishments and increasing the capacity of fishing’s logistic service.

To prepare for the five-year plan for 2006-2010 and to resolve its limitations, the ministry has devised several measures, including further restructuring, speeding up growth toward exports, and protecting the environment and sea resources and ensuring sustainable development

The Vietnam Association of Seafood Exporters and Producers (VASEP) said the fisheries industry managed to maintain growth in 2004 despite numerous difficulties.

In 2004, the sector produced around 3 million tons of seafood products, up 7.7 per cent against the previous year. Meanwhile, total seafood export turnover reached US$2.397 billion, up 8.9 per cent against 2003.

Seafood exploitation volume last year was estimated to reach more than 1,923 million tons, up 3.6 per cent and up 2.5 per cent in value while aqua-culture volume reached more than 1,115 million tons, up 15.2 per cent and up 19.4 per cent in value.

Shrimp remained the key export item, accounting for more than 52 per cent of seafood export value, followed by catfish 12.5 per cent, cuttlefish and octopus 6.7 per cent and dried products 4.2 per cent. Vietnamese seafood products are now available in 80 countries, with key markets comprising Japan, accounting for 31.4 per cent of total export value, the US 24.1 per cent, EU 9.9 per cent.

Vietnam currently has a total of 395 aquatic product processing businesses. Of these, 153 have been licensed to export to European Union and 229 businesses are exporting their products to the Korea.

However, Vietnam’s seafood industry needs a shake up along with a boost in marketing and promotional programs to step up exports, Nguyen Thi Hong Minh, Deputy Fisheries Minister said, adding the industry has strong potential to increase exports, despite the US decision to impose antidumping tariffs on Vietnam’s shrimp

Minh said that the current management system has failed to keep up with industry growth and domestic standards for seafood products are poor and inadequate, short of market requirements. She said the industry’s marketing and promotion is also inefficient.

• P.V