Catfish exports fetch over 1 billion USD

Vietnam ’s catfish exports in the first nine months of 2008 increased by 77 percent in quantity and 52 percent in value, earning over 1 billion USD, according to the Ministry of Agriculture and Rural Development (MARD).

The sharp rise in catfish exports is likely to continue as new markets, notably Russia , the Middle East and some Asia countries, are having growing demands for the commodity, MARD experts said.

Russia is now the biggest market of Vietnamese catfish as it spent 155.6 million USD on the staple in the first nine months of 2008, a 188 % rise over the same period last year. Ukraine ranks second with 104.7 million USD and a 255 percent increase.

To push up exports, local businesses need to agree upon a floor price to avoid unfair competition, while attaching great importance to the safety hygiene, said Luong Le Phuong, MARD’s deputy minister.

At an average revenue of 150 million USD per month, Vietnam ’s catfish exports are expected to fetch 1.5 billion USD in 2008.

VNA

>   Vietnam’s seafood exports to US recover (16/10/2008)

>   Economics Nobel Prize winner to deliver address on Vietnam’s economy (16/10/2008)

>   Enterprises need help to cope with soaring inflation (16/10/2008)

>   Local wood exports could be hit by EU, US sustainability rules (16/10/2008)

>   Vietnam’s exports to US slow, outlook grim (16/10/2008)

>   Milk distributors sour on tardy gov't responses (16/10/2008)

>   Capital-starved property market to remain comatose: realtors (16/10/2008)

>   Industrial value ratio drops (16/10/2008)

>   Gov’t urges off-shore fishing increase (16/10/2008)

>   Da Nang to be advertised on Kawasaki TV channel (16/10/2008)