Vietnamese shrimp export hardly to meet target this year

HANOI, Sept. 18 (Xinhua) -- Vietnamese shrimp exporters have found difficulties in meeting 2.5 billion U.S. dollars' target this year, reported the Vietnamese Ministry of Agriculture and Rural Development (MARD) on Tuesday.

According MARD, domestic shrimp exporters have been under pressure of tough rivalry from their foreign counterparts in gaining shares at overseas markets.

However, they still pocketed about 690 million U.S. dollars in the third quarter (Q3) this year, an increase of 19 percent over the previous quarter, which accounted for 36.9 percent of the country's total sea food export value in Q3, and bringing the 9- month shrimp export value to 1.7 billion U.S. dollars.

To reach the target of 2.5 billion U.S. dollars in 2012, they have to earn 800 million U.S. dollars during the last quarter of the year, a task hardly to be completed.

Japan, the United States and the European Union maintain Vietnam's three major shrimp importers, but due to increasing shrimp export prices, their demand for this product has declined. As of mid-August this year, the country earned only 185 million U. S. dollars from shrimp exports to the EU, a decrease of 23.1 percent year-on-year. Shrimp supply to the U.S and Japan from other countries is forecast to increase, which also affects Vietnam's shrimp export prices.

Besides, Japan's strict regulations regarding ethoxyquin level in shrimp is causing difficulties to domestic shrimp exporters.

In 2011, Vietnam earned nearly 2.4 billion U.S. dollars from shrimp exports, a year-on-year increase of 13.7 percent, according to the Vietnam Association of Seafood Exporters and Producers. Enditem

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