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.

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

According to industry insiders, poor access to capital and raw materials will continue to impact on production and exports, especially shrimp and tra fish.

Deputy Minister of Agriculture and Rural Development Vu Van Tam asked localities to expand and monitor the market, and promptly clear challenges facing businesses to increase production 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 that the US remains Vietnam’s top importer of seafood, with a total share of 16.96 percent. It was followed by Japan and the Republic of Korea with 15.3 percent and 7.67 percent respectively.-VNA