Euro Depreciation Hinders Vietnam Seafood Exporters
The depreciation of Euro against U.S. dollar has hindered Vietnamese seafood exporters from selling products to the EU bloc for fear of loss, Truong Dinh Hoe, general secretary of the Vietnam Association of Seafood Exporters and Producers (VASEP) said.
Local firms have gained fewer contracts on exporting seafood to the EU since early May, Hoe said without giving specific figures
The depreciation prompted EU importers to halt new orders for seafood, Tran Thien Linh, director of Thuan Phuoc Seafood Co. in the central city of Danang, said.
Linh added that their sales to EU have been stagnant because the importers asked to lower the prices by between 10% and 15%.
Nguyen Thi Thu Sac, chairwoman of VASEP’s seafood department cum director of Hai Nam Co. Ltd in the central province of Binh Thuan, said her company might have stopped operation if there weren’t contracts inked Q1.
EU was the biggest importer of Vietnamese seafood products in Q1 with import revenues of $221.6 million, accounting for 24.8% of Vietnam’s total seafood export value in the period. (Saigon Marketing)
Vietnamese
