ID :
35998
Wed, 12/17/2008 - 09:26
Auther :
Shortlink :
http://m.oananews.org//node/35998
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Seafood exports slacken due to declining global demand
Hanoi (VNA) - Seafood exports are hitting lows in the last few months of the year,
unlike previous years, due to declining demand from nations around the world.
Typically, starting mid-November every year, importers around the world would up
their orders for Vietnamese seafood for consumption at the year's end and to start
stocking up for the coming year, said Truong Dinh Hoe, general secretary of the
Vietnam Association of Seafood Exporters and Processors (VASEP).
This year, however, importers were cancelling contracts in anticipation of further
reduced demand by the end of the year due to the world economic downturn, Hoe said.
The US , the third largest seafood market for Vietnam , has reduced imports of
seafood, because US banks have limited loans for importers, he said.
Luong Le Phuong, Deputy Minister of Agriculture and Rural Development, said Russia
and Ukraine , two large export markets of tra and basa catfish products, had
cancelled imports of seafood due to an inability to make payments for the imports.
Domestic seafood exporters are being forced to revise their business plans.
Cong Nguyen Van Thang, deputy director of Vinh Loi Import-Export Joint Stock Company
(Vimex), said the company had had difficulty doing business most of this year, but
it expects to face even more difficulty at the end of the year.
The company's import partners in the US , Australia and the Middle East only
wanted contracts carried out for small shrimp and to slash the shrimp import price
up to 30 percent, Thang said.
Consumers in those export markets are shifting to eating small shrimp to save money,
but it is hard to have enough small shrimp to fulfill those contracts at the moment.
This has led Vimex to reduce its operations by 40 percent.
The same situation faces 30 other seafood exporters in southern Bac Lieu province,
according to Thang. Some have reportedly had to reduce operational capacity by as
much as 50 percent.
Vietnam 's seafood industry has earned 4.27 billion USD from exports so far this
year, according to VASEP.
Nguyen Huu Dung, VASEP deputy chairman, said the nation expects to achieve 4.4
billion USD from exports of seafood for this year, not reaching the initial yearly
target of 4.5 billion USD.
The fisheries sector has forecast a 10 percent growth rate of exports next year,
according to Dung.-Enditem
unlike previous years, due to declining demand from nations around the world.
Typically, starting mid-November every year, importers around the world would up
their orders for Vietnamese seafood for consumption at the year's end and to start
stocking up for the coming year, said Truong Dinh Hoe, general secretary of the
Vietnam Association of Seafood Exporters and Processors (VASEP).
This year, however, importers were cancelling contracts in anticipation of further
reduced demand by the end of the year due to the world economic downturn, Hoe said.
The US , the third largest seafood market for Vietnam , has reduced imports of
seafood, because US banks have limited loans for importers, he said.
Luong Le Phuong, Deputy Minister of Agriculture and Rural Development, said Russia
and Ukraine , two large export markets of tra and basa catfish products, had
cancelled imports of seafood due to an inability to make payments for the imports.
Domestic seafood exporters are being forced to revise their business plans.
Cong Nguyen Van Thang, deputy director of Vinh Loi Import-Export Joint Stock Company
(Vimex), said the company had had difficulty doing business most of this year, but
it expects to face even more difficulty at the end of the year.
The company's import partners in the US , Australia and the Middle East only
wanted contracts carried out for small shrimp and to slash the shrimp import price
up to 30 percent, Thang said.
Consumers in those export markets are shifting to eating small shrimp to save money,
but it is hard to have enough small shrimp to fulfill those contracts at the moment.
This has led Vimex to reduce its operations by 40 percent.
The same situation faces 30 other seafood exporters in southern Bac Lieu province,
according to Thang. Some have reportedly had to reduce operational capacity by as
much as 50 percent.
Vietnam 's seafood industry has earned 4.27 billion USD from exports so far this
year, according to VASEP.
Nguyen Huu Dung, VASEP deputy chairman, said the nation expects to achieve 4.4
billion USD from exports of seafood for this year, not reaching the initial yearly
target of 4.5 billion USD.
The fisheries sector has forecast a 10 percent growth rate of exports next year,
according to Dung.-Enditem
