Vietnam Expects US$125 Mln Seafood Exports to Australia in 2008

Vietnam is expected to rake in US$125 million from exporting 30,000 tons of seafood to Australia in 2008, up from 25,070 tons worth nearly US$123 million last year, the Vietnam Trade Information Center (VTIC) said.

 

VTIC said in the first half of this year Vietnam exported 10,750 tons of seafood to Australia, notching up US$55.54 million, up 19 per cent in volume and 20 per cent in value, against the same period of last year.

 

Tra and basa catfish, and frozen shrimp are key Vietnamese seafood items most preferred in Australia. Catfish exports accounted for more than 56 per cent in volume and nearly 39 per cent in value during the January-May 2008, while frozen shrimp accounting for 25.4 per cent and 47.78 per cent, respectively.

 

Vietnamese catfish was selling for around US$3-US$3.1 a kilo, while export prices of frozen shrimp were US$9.4-US$9.8 a kilo.

 

According to the VTIC, seafood has been the second biggest earnings of Vietnam from Australia during the past five year, behind crude oil.

 

In 2006, seafood exports to Australia hit US$126.3 million, accounting for 3.45 per cent of Vietnam’s total export value from country.

 

Vietnam’s seafood exports to Australia kept rising from 2004, hitting US$77.1 million in revenues in 2004, and US$96.23 million in 2007. (Vinanet)