Seafood Exports Fetch US$2.5Bln in First Eleven Months

Vietnam reportedly gained an earning of US$2.5 billion from seafood exports in the first 11 months of this year, realizing an on-year rise of 14.7 per cent, according to the Ministry of Fisheries.

 

The increase was attributed to European customers' shift to seafood products from poultry products for fear of a bird flu pandemic.

 

The high demand for seafood products has backed prices of tra and basa catfish, one of Vietnam’s key seafood export items, increasing during recent times. Experts predicted that prices for tra and basa catfish will continue soaring in the near future as local exporters have received increasing orders from their European partners.

 

The average price for seafood exports to China saw a slight rise of US$12 per ton compared to the same period of last year.

 

Vietnamese enterprises are expected to expand their market share in the high-quality market. Higher increases were recorded in shipments of lobsters, crabs and moluscs.

 

In the situation that seafood product demand is sharply increasing, local seafood processing in Vietnam has been experiencing a scarcity of aquatic products in the main harvest season of the year.