Q1 seafood exports estimated at US$1.5 billion

HCMC - Vietnam’s seafood exports in March were estimated at US$537 million, bringing the total in the first quarter to US$1.5 billion, up 3.6% over the same period in 2016, said the Ministry of Agriculture and Rural Development.

Japan, the United States, South Korea and China were the top four importers of Vietnamese seafood. The foreign markets to which Vietnamese seafood exports surged strongly in the period include Brazil with 67.6%, the Netherlands with 55.6%, Japan with 28.5%, Canada with 24.3%, China with 19.5% and South Korea with 13.5%, Vietnmaplus reported.

Meanwhile, the nation's seafood import bill in March totaled US$104 million, bringing the total in the first three months of 2017 to US$306 million, up 30% over the same period in 2016.

An undersupply and an increasing demand of exporters have led to tra fish (pangasius) prices soaring. Compared to the previous month, the price of unprocessed pangasius has increased by about VND1,000 per kg to VND24,000-26,500, helping farmers and traders get a profit of VND500-1,000 per kg.

Similarly, the price of unprocessed shrimp in southwestern provinces in the first quarter edged up sharply due to limited output in the beginning of the shrimp season and high export demand.