Marine product exports increased sharply in QII/2012

In the first quarter of this year, seafood exports remained the growth rate of over 15 percent from the same period of 2011. In the second quarter, exports tended to halt with the slow growth of only 6 percent, even in June 2012, pangasius exports fell by 14.5 percent, shrimp exports fell by 4 percent.

However, in the second quarter of 2012, the positive growth in exports of marine product exports has compensated for the decrease in exports of two main key items (shrimp and pangasius). Exports of tuna and cephalopod reached positive growth of 53 percent and 40 percent, respectively. Noteworthily, exports of other marine finfish surged the most by over 64 percent. Through June 2012, exports of crab, swimming crab, surimi (accounting for nearly 40 percent of total seafood export value of Vietnam) helped to bring total seafood export value of Vietnam to gain US$1.14 billion. In the second quarter and the first half of 2012, increase in capture production of marine products, especially tuna and pelagic finfish pushed seafood exports to rocket sharply. Tuna processors are strengthening to import raw material to have further processing before exporting the processed products out of Vietnam under sales contract in order to meet global demand for these two items, particularly frozen marine finfish.

Confronting with difficulties in capital and importing markets, many enterprises have to suspend operating. Till the end of June 2012, the number of seafood exporters decreased by 30 percent from that of the same period last year. Many enterprises have to merge with others, some have to stop operating which is a selection and elimination process to restructure of seafood enterprises aiming to develop sustainably. This trend will be continued in the following quarters.

Seafood exports in the second quarter this year achieved US$1.57 billion and fetch US$2.89 billion in the first half of 2012. Whether can seafood shipment in the third quarter rise in the wake of difficulties in capital and importing markets? With the facts that the government’s programme of VND9,000 billion loan with preferential interest rates will contribute to recovering pangasius sector and competent authorities actively support fisheries industry in searching and expanding markets, shrimp and pangasius exports in the third quarter will be expected to recover and bring total seafood exports in the quarter to over US$1.8 billion and reach the target of US$6.5 billion for the whole 2012.

“Report on Vietnam seafood exports, Q.II/2012” published in August 20^th 2012 will provide seafood enterprises and readers with detail information on analysis and evaluation on seafood production and exports in the quarter and forecasts for the next quarter. We are looking forward to receiving feedback from enterprises and readers.