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Seafood processors in a fix
Seafood exporters are facing numerous difficulties, including a shortage of working capital, a fall in overseas demand, and high costs of quality inspection.
At a meeting in HCM City on February 20, the chairman of the Vietnam Association of Seafood Exporters and Producers (VASEP), Tran Thien Hai, warned that this year would be the most difficult ever for seafood firms.
The ongoing economic crisis might lead to a decline in global seafood demand, and importing countries would impose stricter food hygiene and safety requirements.
He predicted that demand in the EU market for high-price items like shrimp and tuna would fall, and payment would be slower than before.
Truong Dinh Hoa, VASEP General Secretary, said a shortage of raw materials continued to be a headache.
Last year the country spent more than US$500 million on importing raw seafood for processing exports.
Tra fish output continued falling as neither companies nor farmers had the money to invest in farming, he said.
Many shrimp farms had to reduce their investment on account of high input costs, he said.
Duong Ngoc Minh, director general for Hung Vuong Seafood JS Company, said seafood firms needed more working capital, but banks tightened controls on lending.
He said many also complained about higher costs for inspection of export consignments as it usually takes at least 7-10 days.
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