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Seafood exports increase amid difficulties
Vietnam achieved a seafood export turnover of US$430 million in July, bringing its 7-month export value to US$2.45 billion, up 11.6 percent over last year.
The Ministry of Agriculture and Rural Development (MARD) reports that in seven months shrimp exports took the lead with a turnover of US$717 million (Or 35.45 percent of the total and a year-on-year increase of 22 percent), followed by tra and basa fish exports with US$650 million (Up 8.23 percent).
The EU remained Vietnam’s biggest export market for seafood with US$512 million in value, followed by Japan with US$371.6 million.
Although the country’s aquatic export turnover increased, almost all export businesses have encountered difficulties due to a shortage of supplies and shrinkage of the breeding area of tra fish. Many big companies like Hung Vuong, Vinh Hoan, Nam Viet, Agrifish and Minh Phu have been forced to pour investment capital into breeding areas to seek additional sources of fish-breeding supplies.
Many seafood processing companies in the Mekong River Delta region have had to import materials. However, according to seafood experts, these are just temporary solutions as the world’s price of materials is increasing due to high taxes.
In addition to materials, businesses have suffered from other high input costs such as high interest rates, electricity, water, salaries, transportation and packaging. And while the price of shrimp has increased, other kinds of products have decreased.
MARD Deputy Minister Luong Le Phuong says seafood processing businesses should step up trade promotion in new markets. Participating in seafood trade fairs offers good opportunities to promote Vietnam’s tra and basa fish industry and seek new partners in foreign markets.
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