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Quoc Viet Co., Ltd to accelerate shrimp exports to the U.S.
March 20, 2012, 10:45 AM
(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.
<p class="MsoNormal" style="text-align: justify; line-height: 15pt; margin: 6pt 0in 0pt; mso-line-height-rule: exactly"><span style="font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; font-size: 10pt">This is a great chance for Quoc Viet to speed up exporting its shrimp products to the U.S. market, according to the company&rsquo;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.<o:p></o:p></span></p> <p class="MsoNormal" style="text-align: justify; line-height: 15pt; margin: 6pt 0in 0pt; mso-line-height-rule: exactly"><span style="font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; font-size: 10pt">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.<o:p></o:p></span></p> <p class="MsoNormal" style="text-align: justify; line-height: 15pt; margin: 6pt 0in 0pt; mso-line-height-rule: exactly"><span style="font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; font-size: 10pt">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.<o:p></o:p></span></p> <p class="MsoNormal" style="text-align: justify; line-height: 15pt; margin: 6pt 0in 0pt; mso-line-height-rule: exactly"><span style="font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; font-size: 10pt">So far, Quoc Viet&rsquo;s shrimp exports to the EU remains stable, but export prices of shrimp to other importing markets tend to lower.<o:p></o:p></span></p> <p class="MsoNormal" style="text-align: justify; line-height: 15pt; margin: 6pt 0in 0pt; mso-line-height-rule: exactly"><span style="font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; font-size: 10pt">In 2011, Quoc Viet was the second largest shrimp exporter in Vietnam, after Minh Phu Seafood Corp. It was also listed in the country&rsquo;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.<o:p></o:p></span></p> <p class="MsoNormal" style="text-align: justify; line-height: 15pt; margin: 6pt 0in 0pt; mso-line-height-rule: exactly"><span style="font-family: &quot;Arial&quot;,&quot;sans-serif&quot;; font-size: 10pt">Website: www.quocviet.vn<o:p></o:p></span></p>
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ĐNH
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Specialist on Shrimp market
Ms Kim Thu
Tel: 84.24.3771.5055 (ext 203)
Portal of Vietnam Association of Seafood Exporters and Producers (VASEP)
Head office in HCM city: No 7, Nguyen Quy Canh Road, An Phu Ward, District 2, Ho Chi Minh City, Vietnam
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Rep. office in Ha Noi: 10 Nguyen Cong Hoan Street, Ngoc Khanh Ward, Ba Dinh District, Ha Noi City, Vietnam
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In charge of content: Nguyen Hoai Nam (Mr) – Deputy General Secretary of VASEP
Managing Editor: Phung Thi Kim Thu (Ms.) Tel: (+84 24) 37715055 (ext: 203)
Email: kimthu@vasep.com.vn
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