Quoc Viet Co., Ltd to export US$150 million of shrimp products
(vasep.com.vn) Quoc Viet Seaproducts Processing Trading and Import-Export Co., Ltd (Quoc Viet Co., Ltd) expected to reach US$150 million of shrimp exports in 2013. The annual export value will increase to US$200 million if the company sources enough raw material for processing. Quoc Viet Co., Ltd targets to generate US$180 – 200 million from shrimp sales abroad in 2014, when demands from foreign markets and the domestic raw shrimp supply for processing are hoped to be stable.
Through November 2013, Quoc Viet has exported 11,000 MT of shrimp; 70 percent of which was whiteleg shrimp and the rest was black tiger shrimp products. The year-to-date revenue had a worth of US$133 million, compared to US$104 million in 2012. Quoc Viet mainly sent products to the U.S, Australia, the EU, Japan and other markets. The U.S accounted for 40 percent of the company’s export income.
Currently, prices for raw shrimp has strongly increased as there was a low supply from some shrimp producing countries in the global market and lack of raw material in Vietnam as well. Many Vietnamese processors failed to find enough shrimp to process. In this situation, Quoc Viet limits its supply contracts with foreign buyers in the coming months of the year.
There will be higher demands and price for shrimp products in the global market in 2014. Many foreign buyers are now asking to sign long-term contracts with Quoc Viet.
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