Would seafood export reach $US 8 billion?

Seafood exports in the first 10 months rose 5.9% over the same period last year. Photo: Nguyễn Thanh

The main reason is that exporting aquatic products is good for a good price and the price of input food material is quite cheap.

Mr. Nguyễn Xuân Cường, Ministry of Agriculture and Rural Development appraised that seafood in this year is one of the important areas to help agriculture to grow according to the plan.

In recent times, the Directorate of Fisheries has actively solved problems, promoted production and together with local and other economic sectors to perform tasks in order to ensure time and be focused on its mission. For example, the Directorate of Fisheries went to four central provinces in order to plan and solve difficulties as well as problems in order to promote the development of seafood production and issued a plan to strengthen marine natural resources; at the same time, proactive measures were enacted focused on production of safe shrimp exports.

Earlier, talking to a Correspondent of the Customs Newspapers, Mr. Trương Đình Hòe, Secretary General of the Vietnam Association of Seafood Exporters and Producers Vietnam (VASEP) predicted that annual seafood exports will reach $US 7 billion.

However, he also stressed that the competition in seafood exports on the world market is quite fierce, many other countries are also focusing on promoting exports. Therefore, enterprises must always keep their mind ready to face challenges.

According to the report of the Ministry of Agriculture and Rural Development, in the first 10 months of 2016, seafood export value reached $US 5.7 billion, up 5.9% compared to the same period of 2015. The United States, Japan, China and South Korea are the 4 leading import markets of Vietnam seafood in the first 9 months of the year, accounting for 54.1% of total seafood export value. In the first 9 months of the year, the market value of seafood exports surged by China (51.1%), the Netherlands (14.4%), USA (14.3%) and Thailand (10 ,8%).