2014 Seafood Exports Predicted to Hit US$7 Billion

Source: Pano feed

The Vietnam Association of Seafood Exporters and Processors (VASEP) has forecast seafood export turnover for the whole year of 2014 to hit about US$7 billion, a year-on-year rise of 5 percent.

The Vietnam Association of Seafood Exporters and Processors (VASEP) has forecast seafood export turnover for the whole year of 2014 to hit about US$7 billion, a year-on-year rise of 5 percent.



The reason for VASEP to affirm its forecast was rising seafood export figures in the first five months of this year reaching US$2.86 billion, a year-on-year rise of 21 percent. Specifically, shrimp export value increased in almost all markets while tra, basa fishes and cuttlefish exports saw signs of recovery.



Of this figure, shrimp accounted for more than 49 percent or US$1.4 billion, a year-on-year rise of 83 percent. Shrimp exports to some markets saw rapid growth such as the US (120 percent), the Republic of Korea (108 percent) and Switzerland (109 percent) while other markets enjoyed growth from 11 percent-96 percent.


Tra fish exports continued to grow mainly due to the US market, while new ASEAN markets and those in the Americas also rose slightly.


VASEP forecast that export of cuttle fish will continuously rise and will probably reach US$470 million this year. Tuna exports are predicted to meet fixed difficulties and only hit about US$450 million, a 15 percent decrease from the previous year.


CPV




Đăng ký: VietNam News