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Pangasius processing. (Photo Credit: VASEP)

Favourable prospects for Vietnamese exports

Click on the flag for more information about Viet Nam VIET NAM
Monday, January 20, 2014, 02:50 (GMT + 9)

There are signs that Vietnam seafood exports will continue to grow this year, as the country is seeing improvement signs from its main markets such as Japan, the EU and the US, as well as new markets like China and Hong Kong.

According to Vietnam Association of Seafood Exporters and Producers (Vasep), despite many difficulties in 2013, Vietnamese seafood products saw a growth of 10.1 per cent against the previous year. The three main markets - including the US, Japan and the EU - all reported an import value of over USD1 billion. In 2014, Vietnam is expected to move even further in export growth.

China has cemented its place among the world’s largest purchasers of Vietnamese shrimp, importing USD350 million in 2013 turnover, an annual increase of 53 per cent.

Chinese shrimp shortages in the wake of early mortality syndrome (EMS), falling from 1.5 million tonnes to 1.1 million tonnes, contributed to its larger quantities of Vietnamese imports, VOV online informed.

Also, a good opportunity now appears for Vietnam in Japan, as Japanese authorities have increased the allowable ethoxyquin content level in imported shrimp from Vietnam from 0.01ppm to 0.2ppm.

Adding to the boost in exports to new potential markets like China and Hong Kong in 2014, Vietnam is setting up a distribution centre for pangasius products exported to the EU in the port of Zeebrugge in Belgium, which will help it enlarge reach and volume.

However, there may be some drawbacks. The first one is the U.S catfish inspection program, which will likely be switched from US Food and Drug Administration (FDA) to US Department of Agriculture (USDA). If the decision is made, pangasius products will fail to entry to the US market. The second one is the Department of Commerce (DOC)’s annual antidumping tax administrative reviews (POR) imposed to imported frozen pangasius fillets from Vietnam.

The country’s Minister of Industry and Trade Vu Huy Hoang said in an interview that the achievements are attributed to strict management of the Government, and great efforts of ministries, departments, associations and business community.

Related article:

- Seafood exports expected to reach USD 6.8 billion

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