(vasep.com.vn) Lack of capital for producing, processing to export, low demand in EU market, barrier of Ethoxyquin testing in Japan and hiking input cost strongly affected to fisheries production and exports in the Q.III/2012. The decline in shrimp and pangasius exports in consecutive three months led to total seafood export turnover of US$1.62 billion in the 3rd quarter, up only 3.4 percent over that of the 2nd quarter and down 5.3 percent over the compatible quarter of 2011.
Marine products sales abroad kept growth in the first two quarters of the year. However, the sector showed slow signs as export of cephalopod dropped in three months in a row, due to shortage of raw material for processing. Trade of tuna and marine finfish products sharply increased by 92 percent and 24 percent, respectively, while cephalopod items reported decline of 17 percent from the same time last year. The figures led to the growth of 19 percent in total export in Q.III after 50 percent advance in Q.II
Representing 64.8 percent of total seafood export between Jan and Sep 2012, shrimp and pangasius exports in Q.III edged down 15.2 percent and 10 percent, respectively. The figure was down 3.9 percent and 1.8 percent, respectively in the first 9 months of 2012. Total seafood exports between Jan and Sep reached over US$4.5 billion, up 4.3 percent from the compatible period of last year.
In the first three quarters of 2012, Vietnam has had 600 seafood exporters, 30 percent less than that of the corresponding period of 2011. This reveals a strong trend of business selection and restructure in the domestic market, which is predicted to last in the last months of the year as the result of persistent financial stress, rising input cost and weak demand.
In the situation, whether seafood sales could reach US$2 billion in the fourth quarter to boost Vietnam fishery industry’s annual export to the record of US$6.5 billion? And the 600 current seafood companies could fetch an average of US$700 million per month to reach the target?
Based on newly updated information and data on fish production and export in the third quarter and the first 9 months, VASEP’s new Report on Vietnam seafood in the quarter III/2012 (published on 10th November 2012) will provide reviews, analysis and predictions on the main factors driving Vietnam fishery industry in the last quarter of the year. This includes supply of raw material for processing, trend of domestic raw fish price, demand trend in main consuming markets and forecasts on seafood production and export in the fourth quarter and all year of 2012.