Fisheries sector sees recovery signs in October

Hanoi – Positive signs have been seen in fisheries production, processing and exports in many localities since early October.

According to the Vietnam Association of Seafood Exporters and Producers (VASEP), fisheries exports reached 918 million USD in October, equal to the figure of the same period last year and a rise of 47 percent over last month. Upturn was seen in exports of the majority of products such as tuna, squid, octopus and shrimp.

The increase showed that the sector is become more stable and on the road to recovery, according to the association.

In the first 10 months of this year, fisheries exports were estimated at 7.1 billion USD, a slight rise of 2.4 percent. Highest rise was seen in export revenue of bivalve molluscs at 39 percent to 113 million USD. Exports of tuna posted an increase of 10 percent to 598 million USD, squid and octopus at 4.5 percent to 475 million USD, and shrimp at 2.6 percent to 3.2 billion USD.

Due to a shortage in material, export revenue of tra fish in October dropped 18 percent year on year to 139 million USD. However, the figure in the first 10 months of this year remained unchanged at 1.2 billion USD.

The US remained the major market of Vietnamese fisheries products, accounting for 24 percent of the total export value at 1.7 billion USD, up 25 percent year on year. It was followed by Japan with 1.08 billion USD and China and Europe with 872 million USD and 864 million USD, respectively.