Vietnam seafood exports to pass $5-billion this year – Fishupdate.com

Vietnam seafood exports to pass $5-billion this year Published:  22 November, 2011

LESS than ten years ago Vietnam was just a minor player in the global seafood industry.

This year so far Vietnamese seafood exports have reached US$4.4-billion and is expected to be well over the $5-billion mark by the end of the year. The country’s Ministry of Agriculture says that seafood companies are trying to reach the $6-billion mark, but many analysts doubt if this will be achieved given some of the problems facing the industry and the state of the world economy. The biggest exports markets are the United States, Europe and Britain and the main export species are pangasius, Vietnamese catfish and shellfish such as shrimp.

Ngo Thanh Linh, Deputy Head of Planning and Finance Division of the Department of Agriculture and Rural Development said that since the beginning of the year, seafood export value from Ca mau province, Vietnam’s biggest seafood export region,  has increased 15 percent compared to the same period last year.

Meanwhile, Vietnam is continuing to attract foreign investment. The German retailer Metro Cash & Carry has opened a fish transhipment centre in the country under a public private partnership in an effort to ensure sustainable development of seafood in Vietnam.

The centre, at Metro’s outlet in Can Tho City, has been set up in partnership with the Ministry of Agriculture and Rural Development, the Vietnam Challenge Fund, Cargill Vietnam Co, and Fresh Studio Innovation Asia.It consists of a processing section, a cold storage, and a sorting section, and will provide around 1,000 jobs.

In the beginning the centre will deliver fresh and processed fish caught in the Mekong Delta to Metro’s 15 outlets countrywide.Over the longer term products will be delivered to Metro’s global distribution system, which consists of 700 outlets in 30 countries and territories