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Seafood exports likely to hit 7 billion USD in 2014

The Vietnam Association of Seafood Exporters and Producers (VASEP) estimated that seafood exports would reach about 7 billion in 2014, 4.5 percent more than last year, reported the Ministry of Industry and Trade’s Vietnam Economic News.
The Vietnam Association of Seafood Exporters and Producers (VASEP)estimated that seafood exports would reach about 7 billion in 2014, 4.5percent more than last year, reported the Ministry of Industry andTrade’s Vietnam Economic News.

According to the Ministry ofAgriculture and Rural Development’s sources as saying that seafoodexports came to an estimated 679 million USD in August 2014, taking thetotal to 4.95 billion USD in the first eight months of this year, up25.4 percent from the same time in 2013.

Shrimp exports alone amounted to 2 billion USD in the first seven months of 2014.

TheUS, Japan and the EU remained the largest importers of Vietnameseshrimp, with Japan becoming the biggest importer of Vietnamese blacktiger shrimp. In the first seven months of 2014, seafood exports to theNetherlands, the Republic of Korea (RoK) and the US grew 100-298 percentcompared to the same period last year.

Russia, one of thebiggest importers of Vietnamese seafood, officially lifted the embargoon Vietnamese seafood in late August 2014. This is expected to helpVietnamese businesses to increase their seafood exports in the remainingmonths of the year.

Previously, the fact that Russia applied anembargo on Vietnamese seafood in early 2014 in addition to difficultiesin major markets including Europe, the US and Japan caused Vietnameseseafood exports in general and Tra fish exports in particular to sufferdifficulties in the first six months of this year.

According toVASEP, Tra fish exports to the Association of Southeast Asian Nations(ASEAN) countries reached 87.5 million USD from January to mid-August2014, up 13.3 percent from the same period last year. ASEAN was thethird biggest importer of Vietnamese Tra fish, after the EU and the US.Thailand and Singapore were the biggest ASEAN importers of VietnameseTra fish.

Tra fish exports to the Middle East came to US$ 90.65million in the first half of 2014, up 7.5 percent from the same time in2013. Saudi Arabia was the largest Middle East importer of VietnameseTra fish, after Egypt and the United Arab Emirates (UAE).

Vietnamis piloting a tuna production line according to Japanese standards inthree central provinces of Binh Dinh, Phu Yen and Khanh Hoa. This isimportant to improve the competitiveness of Vietnamese tuna products andincrease Vietnam's seafood exports in 2014.

VASEP said thatsince last year, Tra fish exports to major markets such as the US andEurope have faced many difficulties and therefore Vietnamese seafoodexporters are interested in shifting to smaller markets. With reasonableprices and good quality, Vietnamese Tra fish is loved in these markets.

About100 Tra and Ba Sa fish farms in Vietnam, totaling more than 2,800hectares of water surface, accounting for about 40 percent of Vietnam’stotal Tra and Ba Sa fish farming area, have achieved VietGAP, ASC, BAP,and SQF 1000/2000 CM certifications. Notably, 2,000ha of the 2,800hawere awarded the GlobalGAP certification.

According to VASEP,shrimp exports in 2014 will likely exceed 3.5 billion USD if diseasecontrol is well implemented and good sales to markets are maintained,and Tra and Ba Sa fish exports will probably reach 1.8 billion USD in2014, taking the country’s total seafood export revenue to 7 billion USDthis year.-VNA

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