Baseafood: East Sea tensions have no impact to seafood sales to China
(vasep.com.vn) Through April 2014, the Baria-Vungtau Seafood Processing and Im-Ex Joint Stock Company (Baseafood) totaled US$7 million from seafood exports, down 30 percent year on year. In which, frozen marine products (marine fish, cephalopod and surimi…) made up of 60 – 70 percent; the rest was dried seafood products sent to Russia and the Middle East.
In 2013, Baseafood got enough raw marine fish, squid and octopus to processing to export. This year, supply of material for surimi production met 30 percent and that of squid met only 40 percent of its needs.
Short supply of raw material was the main cause of lower sales to China. Since the beginning of the second quarter of 2014, there have been few shipments of frozen marine products to China. The export price was also at low level. Exports to China are expected to recover in Q.III/2014, when raw material supply is better. The current East Sea tensions have not affected seafood trade with Chinese buyers.
The drop was also seen in exports to most of Baseafood's big markets such as Japan, the EU, Russia, ASEAN.
www.baseafood.vn