Vietnam says shrimp exports jumped, thanks in part to gulf of Mexico oil spill

Vietnam exported more shrimp last year and received higher prices, thanks in part to the Gulf of Mexico oil spill, an industry group said.

The value of shrimp exports grew by 20 percent, setting a record and crossing the $2 billion mark, according to the Vietnam Association of Seafood Exporters and Producers.

The United States was the second-largest export market for Vietnamese shrimp, buying 27 percent of shipments. That’s just behind the 28 percent shipped to Japan.

Vietnam exported about 240,000 metric tonnes, a 15 percent increase by weight.

The association said the Deepwater Horizon spill, a better worldwide economy and a general decrease in output helped raise prices.

Gulf Coast and South Atlantic shrimpers are currently receiving cash subsidies of up to $12,000 apiece in a federal programme meant to make up for profits lost to imports in 2008. Of the 3,422 shrimpers approved for payments on the eve of the deadline, 485 were from Mississippi and 153 were from Alabama. About 80 percent of shrimp consumed in the United States are imported.

Tags: Vietnam shrimp exports

Posted by VBN on Jan 11 2011. Filed under Agriculture, Forestry and Fishery, Import-Export turnover, 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