Seafood exports reach US$7.9 billion in 2014

General Secretary of the Vietnam Association of Seafood Exporters and Producers (VASEP) Nguyen Hoai Nam said the world market had seen a recovery, and sales of seafood products have risen more than other types of food. Meanwhile, Vietnam maintained stable and high quality seafood supplies, as the nation was estimated to see a year-on-year increase of 18% in seafood export values this year, rising to US$7.9 billion.

Deputy Minister of Agriculture and Rural Development Vu Van Tam also said the nation could reach its target of US$8 billion in total seafood export value for next year due to the continuing high growth in value this year.

The value of shrimp exports in 2014 was expected to reach 22% year-on-year, surging to US$3.8 billion, while the value of tra fish exports would be US$1.8 billion, he said.

Of note, Nam said tilapia could become a key seafood export product in the near future. Many seafood experts agreed with this opinion because, with the potential in fresh water and existing technological infrastructures of the fisheries industry, Vietnam has the ability to greatly increase the output of tilapia for export processing.

Pham Anh Tuan, Deputy Head of Fisheries Department under the Ministry of Agriculture and Rural Development, said tilapia has great appeal in foreign markets.

Over the past five years, tilapia has reached an average growth rate of 30% each year in the world market.

The US market imported tilapia worth US$200 million ten years ago, while this year the import value of tilapia to the US is expected to reach US$1 billion. Meanwhile, the export price of tilapia on the market is high, at US$4.5 per kilo.

China annually exports 1.1-1.5 million tonnes of tilapia.

Tilapia will be an increasingly significant seafood export product for Vietnam in the future, said Nam.

Tuan added that the fisheries industry would encourage the production of tilapia. Systems for raising tilapia, along with shrimp, would improve the environment, control disease and produce quality seafood products, officials noted.

Nguyen Huu Dung, VASEP deputy chairman, said many enterprises now raising tra fish and shrimp have planned investments for farming tilapia.

Vietnam produced 80% of the local demand of tilapia breeding and the ministry built a centre for hatching tilapias in Quang Nam province to provide live fish to the northern provinces. In the future, the ministry will establish a plan for the sustainable development of tilapia to assure higher growth in tilapia exports, he said.

(Source: Nhandan Online)