(VASEPNews) Regarding to the final results of administrative review on new shipper exporters to the U.S. from 1st February to 31st July 2010, Quoc Viet Seaproducts Processing Trading and Import-Export Co., Ltd (Quoc Viet Co., Ltd) was awarded a duty rate of zero percent.
This is a great chance for Quoc Viet to speed up exporting its shrimp products to the U.S. market, according to the company’s General Director Ngo Van Nga. In 2011, Ca Mau-based firm exported mainly to Australia, the EU and Japan. In January 2012, the U.S. is targeted to represent a proportion of 30 percent of its total export revenue.
Currently, demand for large shrimp is high in the U.S. market, but processors are suffering from low supply of raw material in Mekong Delta because this region has not come into harvest season and farmers hesitate to stock seeds.
In the first month of 2012, Quoc Viet reached US$6.5 million of shrimp exports, a rise of 15 percent from a year ago. In February, the company expected to gain revenue of about US$10 million, much higher than that of the previous month.
So far, Quoc Viet’s shrimp exports to the EU remains stable, but export prices of shrimp to other importing markets tend to lower.
In 2011, Quoc Viet was the second largest shrimp exporter in Vietnam, after Minh Phu Seafood Corp. It was also listed in the country’s top 4 seafood exporters. With the new chance in the U.S. market, it hopes to reach higher position in the top seafood export companies of Vietnam this year.
Website: www.quocviet.vn