Shrimp exporters expect to gross 3.2 billion USD in revenue in 2015, anannual decline of 17 percent, due to shrimp disease and exportdifficulties in the first half of this year, said the VietnamAssociation of Seafood Exporters and Producers (VASEP).
According to the General Department of Customs, the sector broughthome only 1.2 billion USD from January-June, down 29 percent from a yearearlier.
Frozen white-leg and tiger shrimps asmaterials made up the majority of the revenue with 741 million USD(down 30 percent) and 412 million USD (down 31) percent, respectively.
The decline has led to a considerable reduction in seafood exports, as shrimp is a key aquatic export commodity.
Deputy General Director of the General Fisheries Department NguyenHuy Dien attributed the decline to the increasing global shrimp supplyand resultant price reductions.
Technical,tariff and non-tariff barriers along with foreign currency exchange ratefluctuations also affected local shrimp exports, he said.
Despite the gloomy situation, Secretary General of the VASEP Truong Dinh Hoe said there are still positive signs.
Last June, shrimp output of major competitors such as India,Indonesia and Thailand failed to reach the set targets and harvestingperiods in these markets have ended. Meanwhile, the appetites of keyshrimp importers are increasing presenting a good opportunity forVietnam to increase exports in the last six months of this year andincrease shrimp prices by 5-10 percent.
Furthermore, free trade agreements signed between Vietnam and promisingseafood importers like the Republic of Korea and the Eurasian EconomicUnion are expected to make it easier for shrimp export activities.
The State Bank of Vietnam (SBV) has recently increased the inter-bankaverage exchange rate between VND and USD by one percent, a positivesign for the sector’s recovery.
To tap theseopportunities, businesses should strictly implement regulations on foodsafety and technical standards of foreign importers, he said, addingthat the State should enact policies on foreign exchange rate andinterest rates to help reduce domestic shrimp production costs andincrease competitiveness.-VNA
According to the General Department of Customs, the sector broughthome only 1.2 billion USD from January-June, down 29 percent from a yearearlier.
Frozen white-leg and tiger shrimps asmaterials made up the majority of the revenue with 741 million USD(down 30 percent) and 412 million USD (down 31) percent, respectively.
The decline has led to a considerable reduction in seafood exports, as shrimp is a key aquatic export commodity.
Deputy General Director of the General Fisheries Department NguyenHuy Dien attributed the decline to the increasing global shrimp supplyand resultant price reductions.
Technical,tariff and non-tariff barriers along with foreign currency exchange ratefluctuations also affected local shrimp exports, he said.
Despite the gloomy situation, Secretary General of the VASEP Truong Dinh Hoe said there are still positive signs.
Last June, shrimp output of major competitors such as India,Indonesia and Thailand failed to reach the set targets and harvestingperiods in these markets have ended. Meanwhile, the appetites of keyshrimp importers are increasing presenting a good opportunity forVietnam to increase exports in the last six months of this year andincrease shrimp prices by 5-10 percent.
Furthermore, free trade agreements signed between Vietnam and promisingseafood importers like the Republic of Korea and the Eurasian EconomicUnion are expected to make it easier for shrimp export activities.
The State Bank of Vietnam (SBV) has recently increased the inter-bankaverage exchange rate between VND and USD by one percent, a positivesign for the sector’s recovery.
To tap theseopportunities, businesses should strictly implement regulations on foodsafety and technical standards of foreign importers, he said, addingthat the State should enact policies on foreign exchange rate andinterest rates to help reduce domestic shrimp production costs andincrease competitiveness.-VNA
