Vietnam’s shrimp exports lose 60 percent of their markets

Vietnam’s shrimp exports lose 60 percent of their markets

17 March 2009

Vietnam’s shrimp exporters have seen 61 of their export markets disappear since the beginning of this year, according to the Vietnam Association of Seafood Exporters and Processors (VASEP).

At the end of last year, Vietnam exported shrimp to 90 countries and territories. However, this has now fallen to 29, down by 60 percent.

Searching for new export markets for Vietnamese shrimps is a difficult task at the moment because of fierce competitiveness from Thai, Indian and Indonesian products.

Due to the current economic slowdown, in the last four months, farmers in the Mekong Delta have stopped raising shrimp, resulting in a shortage of small shrimps in processing factories which currently have only large shrimps in stock.

Source: VOVNews