Seafood exports down 8 percent in Q1/2013

Seafood exports in March is estimated at about US$447 – US$450 million, down 17-18 percent against the same month in 2012 due to decreasing demand from importers and lack of raw material.

Domestic shrimp producers are facing shortage of raw shrimp caused by diseases and Japan’s strict barrier related to Ethoxyquin levels in the products.

Shrimp exports are estimated to reduce by 10 percent to US$160 million in March and by 7.9-8 percent to US$400 million in the first three months of the year.

Exports of pangasius saw a year-on-year decrease of 13 percent to US$140 million in March, driving down total pangasius export earnings in the first quarter to US$393 million, a fall of 7.6 percent from a year ago. Pangasius exporters are still confronting with difficulties in capital and importing markets. They also suffer from low average fish price and technical barriers imposed by main importing markets.

Tuna exports rose to US$145 million in first 3 months of 2013, up 12 percent compared to the same period of last year, but down 16 percent in March. Despite positive tuna catching in the first months of the year, processors still lack tuna eligible for export. Many fishermen tend to shift to catch tuna by pole and line (to cut down costs and raise productivity). This fishing method slashed tuna’s quality. The trend is likely to continue in coming months, resulting in decline in tuna production for exports.

Marine finfish sales decreased by 28 percent to over US$60 million in last month, resulting in a 9 percent drop in Jan – Mar. Cephalopod exports saw a sharp decrease of 34 percent and 22 percent in March and the first quarter, respectively. Cephalopod exports in QI reached over US$100 million.