Vietnam seafood exports in 2014 broke records to reach nearly US$ 8 billion,up 17% year on year.

Major contributor to this result was shrimp exports with its sales of nearly US$ 4 billion, up 25% compared to 2013. According to fishery enterprises in the Mekong Delta, abundant raw material was a significant factor for the surge in shrimp exports.

"As we overcame EMS in previous years, shrimp production in 2014 stayed high", said Mr. Dinh Vu Hai, Director of Hai Nguyen company in Bac Lieu.

According to a large shrimp exporter, global supply recovered but it was not sufficient, enterprises therefore can find opportunities for growth. He also added that the year 2014 was a good year for Vietnam seafood processing and exporting. The year 2014 witnessed the highest growth rate in successive 3 years. New markets were open in 2014, signaling a growth in seafood process and exports in 2015.

Russia’s lifting a ban on Vietnamese seafood exports in August 2014 was a highlight. Taking advantage of this opportunity, businesses increased seafood exports in 2014.

Mr. Le Van Hung, director of Minh Phu - Hau Giang Seafood Corp said: "Russia is a market with great potential, but not many businesses can access to this market. Minh Phu has made penetration into this market and found growing businesses here".

Source: pangasius-vietnam.com