Business

Seafood exports fall in February

Vietnam earned 806 million USD from seafood exports in the first two months of this year, marking a year-on-year rise of 3 percent.
Vietnam earned 806 million USD from seafood exports in the firsttwo months of this year, marking a year-on-year rise of 3 percent.

But in February, the figure hit nearly 320 million USD, down 24 percentfrom last year. Areas that experienced heavy revenue losses included trafish, down 32 percent to 100 million USD, shrimp (96 million USD),cuttlefish and octopus (26 million USD), recording decreases of 31percent and 18 percent respectively.

According toindustry insiders, poor access to capital and raw materials willcontinue to impact on production and exports, especially shrimp and trafish.

Deputy Minister of Agriculture and RuralDevelopment Vu Van Tam asked localities to expand and monitor themarket, and promptly clear challenges facing businesses to increaseproduction and trade.

He also asked firms to organise trade promotion activities at home and abroad, and register their trademarks.

Meanwhile, businesses suggested the sector lower indirect and service costs as input and transport fees are increasing.

The Vietnam Association of Seafood Export and Processing reported thatthe US remains Vietnam’s top importer of seafood, with a totalshare of 16.96 percent. It was followed by Japan and the Republicof Korea with 15.3 percent and 7.67 percent respectively.-VNA
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