Slump in seafood exports in first quarter

According to the Vietnam Association of Seafood Exporters and Producers, the country’s seafood exports merely touched US$450 million in March, down 18 percent year-on-year, bringing total seafood export turnover in the first quarter of this year to $1.2 billion, a decrease of 8 percent year-on-year.

Seafood exports posted a drop in the first quarter because the country’s key seafood products continuously faced difficulties at consumer level and in sourcing material.

Pangasius exports fell 7.6 percent in the first quarter, compared to the same period last year, as firms were hit by a shortage of capital and continuously faced many technical barriers in EU market, and anti-dumping laws in the US market.

The supply of shrimps became scarce because of disease outbreaks causing mass deaths of shrimps in several provinces. In addition, Japan and South Korea announced that they would impose Ethoxyquin testing on Vietnamese shrimps, causing shrimp exports in the first three months of this year to drop by 8 percent compared to the same period last year.

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By Yen Lam – Translated by Thuy Doan

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