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Vietnam's marine product sales to increase 13%

Staff writer ▼ | May 10, 2016
According to Vietnam Customs, the country’s seafood exports in the first quarter of 2016 reached $1.45 billion.
Vietnam marine product
Seafood in Vietnam   An increase of 6.4 percent year on year
This is an increase of 6.4 percent year on year. After the continuous decline in 2015, the recovery in the early months of 2016 is a good signal for seafood exporters.

In particular, sales of two main seafood items (shrimp and pangasius) were up 8 percent and 2.4 percent, respectively.

Sales of cephalopod and tuna downed 6.2 percent and 5.5 percent, while exports of marine finfish surged 19.5 percent and other marine products also reported the year-on-year increase in export turnover.

Marine products (tuna, cephalopod, crab, other marine finfish..) accounted for more than 30 percent of the total seafood exports by Vietnam, reports VASEP.

In 2016, exports of these items are forecast to see the year-on-year growth thanks to stable raw material supply and higher demand from main markets.

In which, tuna exports expected to reach $507 million, up 12 percent; cephalopod with $470 million, up 10 percent; crab, surimi and marine finfish up 13 percent to reach $1.3 billion.

Up to now, supply of raw marine products for processing and exporting rises thanks to surge in capture production.

According to Ministry of Agriculture and Rural Development (MARD), April is the time for South fishing season, the weather condition is favourable, the price of marine products are stable, fuel price is lower which facilitates offshore fishing activities.

Besides, competent agencies help fishermen in investing for machines, applying advanced technology in catching and preserving fish on board. Accordingly, the quality and value of marine products increase.

Capture production in Jan-Apr 2016 estimated to reach 1,050 thousand MT, up 3 percent year on year. Marine catch estimated to touch 1,003 thousand MT, up 3.3 percent from April 2015.

Tuna are mostly available in Spratly Islands and Paracel Islands with sharp rise in output because now is main fishing season.

Tuna ouptut of the threemain provinces in Jan-Apr 2016 guessed to reach 8,413 MT. In Binh Dinh province, tuna production was 4,400 MT, up 31 percent year on year; Khanh Hoa with 1,500 MT, up 28 percent year on year; Phu Yen with 2,513 MT, down 10 percent year on year.

Main fishing grounds where marine products are caught mainly locate in the South Central provinces and the Southern provinces.

A majority of marine products processors and exporters with main items of tuna, crab, surimi and other marine finfish concentrate in these provinces.