Vietnam's Fish Exports to EU Hit Record High

Vietnam's Fish Exports to EU Hit Record High

Vietnam's fish exports to the European Union (EU) rose substantially in 2004 and are forecast to continue surging this year, according to Vietnam Association of Seafood Exporters and Producers (VASEP) on May 13.

Last year, the country’s fish sales to the EU reached US$110 million, up 300 per cent from the previous year, equivalent to half of the country’s total seafood exports to this market and 20 per cent of its total outbound fish sales, said the VASEP.

Vietnam sells mainly tra and basa, the most popular catfish species in the country, and tuna, to the European market last year, VASEP said, adding that catfish makes up more than 50 per cent of Vietnam’s total fish exports to the EU, while tuna constitutes 10 per cent.

The EU mainly imports tra and basa catfish and tuna from Vietnam. The imports increased by 236 per cent over 2003 to 22,420 tons of tra and basa catfish and by 436 per cent to 3,800 tons of tuna last year.

The EU will still remain a large market for Vietnamese businesses to boost fish exports as regional demand for seafood is rising, the association said. EU expansion and the strong euro were not only a good opportunity for Vietnam to increase seafood exports, but also to establish a new market for low-priced seafood. Eastern Europe is also a potential market for Vietnamese freshwater fish. 

However, the import price to the new markets is only US$1.09 per ton for Vietnamese seafood, well below US$3.01 per ton in Belgium and US$2.35 per ton in Italy, the association said.

Last year, Vietnam gained US$550 million from fish exports, of which the US were the biggest importers, the EU second, and Japan third with a total import value of US$66 million.

Vietnam's fisheries sector earned an estimated US$190 million from seafood exports in April, bringing its four-month export turnover to around US$684.4 million, or a year-on-year increase of 8.93 per cent, according to the Ministry of Fisheries. Fish made the biggest contribution to exports, accounting for 45.4 per cent with more than 68,800 tons. Shrimp followed with 34,900 tons and cuttlefish with 14,400 tons.

VNS, VietNamNet