Seafood producer Ben Tre says Q1 sales may fall 20 percent

Ben Tre Forestry & Aquaproduct Import Export Joint Stock Co. forecast sales could drop 20 percent in the first quarter as the global economic crisis cuts demand for Vietnamese seafood.

“There has been a slump in demand for tra (catfish) from the European Union and shrimp from Japan, the company’s major markets,” Deputy General Director Dinh Hoang Vinh said by phone from the southern province of Ben Tre.

Very few orders for international seafood deliveries beyond this month have been signed due to the global economic recession, which has badly hurt customers like Japan and the EU, Sai Gon Tiep Thi newspaper reported February 9, citing the Vietnam Association of Seafood Exporters and Processors.

The company’s sales totaled VND151 billion (US$8.6 million) in the first quarter of last year.

 Bloomberg

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