Vietnam Expects US$1.2 Bln Catfish Export Revenues in 2008
Vietnam may rake in US$1.2 billion from exporting 500,000 tons of tra and basa catfish this year, the Vietnam News agency reported, citing an official of the Vietnam Association of Seafood Exporters and Producers (VASEP).
VASEP Vice Chairman Ngo Phuoc Hau said consumption of large-sized catfish in the Mekong Delta region is optimistic thanks to high processing capacity of local factories.
Can Tho and An Giang factories with total capacity of between 1,200 and 1,800 tons of fish a day will use almost all of the fish material, Hau said, adding that the factories account for nearly 80 per cent of total fish volume.
In an effort to stabilize the market, the VASEP has asked the government to provide an additional VND3,500 billion to the Bank for Investment and Development of Vietnam so that catfish processors can borrow loans to buy oversized fish.
It has also asked the electricity sector to supply enough power for the enterprises to operate at full capacity.
In the long term, the Ministry of Agriculture and Rural Development will re-plan breeding zones to keep pace with the market development. The ministry will tighten control over processing and exporting enterprises to prevent trade frauds and anti-dumping lawsuits.
Vietnamese companies have so far this year obtained US$610 million from exporting 260,000 tons of tra and basa catfish.
Last year, the companies earned nearly US$1 billion from the catfish exports. (Vietnam & World Economy)
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