Thuan Phuoc Corp faces a lot of difficulties in seafood exports

In the first seven months this year, among the company’s seafood export items, frozen shrimp made up 4,100 MT, the others are frozen marine finfish and frozen cuttlefish. Until the end of July 2011, EU is still the biggest seafood importer of the company with 2,000 MT, followed by the U.S. and Japan.

In Jan - Jul 2011, despite the company’s export turnover was higher than that of Jan - Jul 2010, its profit was not high due to low average export price and the soaring input costs (raw material, fuel).

Currently, the high price and scarce supply of raw material cause a lot of challenges to the company in meeting demand of customers. The company’s seafood exporting and processing activities in 2011 is even more difficult than those of 2008 - the worst year in the past decade when production cost rose sharply and unstably, Mr. Linh said. In this context, the loans from banks can not support the company because of complicated procedures and high interest rate.