Vietnam forecasts catfish exports down 45pct in 2011

Vietnam expects to reduce catfish exports next year to US$1 billion, down from $1.5 billion in 2010, according to the Vietnam Association Exporters and Producers (Vasep). Vasep estimates that basa catfish shipments may decline by 45 percent to 360,000 tons next year from this year’s 640,000 tons. The industry association told a conference in Ho Chi Minh City Wednesday that catfish production in 2011 would take a nosedive due to falling profits and capital shortages. According to the association, the Mekong Delta’s farms and fish processing companies have had difficulty in accessing bank loans. Vietnam shipped abroad some 640,000 tons of catfish this year, worth US$1.4 billion, failing to achieve its $1.5 billion target set by the government due to decreasing value in export price. The Ministry of Agriculture and Rural Development recently approved the allocation of 350 billion dong ($7.4 million) for the Mekong Delta region to raise 100,000 breeding catfish to ensure there are five million of them by 2012. The allocation is part of a 1.34 trillion dong ($72.6 million) national program to promote the regional catfish industry through 2020. It will also provide funds for developing irrigation works, scientific research, and environmental protection. – Tuoitre

Tags: Vietnam catfish exports

Posted by VBN on Dec 31 2010. Filed under Sea food. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry