Seafood exports fetch over US$7.5 billion in eleven months

Vietnam’s export revenue from seafood totalled approximately US$5.57 billion during the January-November period of 2017, up 18.3% over the same period last year, according to the statistics released by the Ministry of Agriculture and Rural Development.

Illustrative Image (Photo: Thai Thien).

The US, Japan, China, and the Republic of Korea are currently the leading export markets of Vietnam.

Seafood export values from China accounted for 67.9% of the total figure, followed by the Netherlands (47.5%); the UK (35%); and the RoK (29.5%).

Despite the positive results, Vietnamese exporters are still dealing with strong competition in prices, as well as trade barriers in both the traditional and new markets.

Businesses have invested in upgrading and renovating their equipment and technology in order to improve the quality and diversity of their products.

The Vietnam Association of Seafood Exporters and Producers stressed the need to strengthen food safety control on seafood for export, as well as to assess and classify the import enterprises to be prioritised in quarantine exemption and reduction.

Furthermore, it is necessary to evaluate the effects of saltwater intrusion in the Mekong Delta region to apply measures to balance three factors: the breeding season, production varieties and feed production, the association advised.

(Source: NDO)