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April 23, 2015

Vietnam

Trouble Competing with India and Indonesia

 

The Vietnam Association of Seafood Exporters and Producers (VASEP) has warned its shrimp exporters that they may lose the USA market to India and Indonesia if they don’t lower prices.

 

VASEP said that the price of shrimp shipped to the USA averaged $13 per kilo in 2014, a 15-year high, and that India and Indonesia offered significantly lower prices.  The price of Indian shrimp stateside has gone down to $11 per kilo since January 2015, while that of Vietnamese shrimp has remained unchanged.

 

Chu Van An, deputy general director of Minh Phu Seafood Corporation, Vietnam’s leading shrimp exporter, said shrimp production is up in India and some other countries because they have not been hit with early mortality syndrome (EMS), enabling them to cut unprocessed shrimp prices, which account for 60-70% of production costs.

 

In addition to price cuts, VASEP’s general secretary Truong Dinh Hoe called for its exporters to improve their shrimp quality, given the low demand in international markets.

 

Source: Seafood.com (an online, subscription-based, fisheries news service).  Editor and Publisher, John Sackton (phone 1-781-861-1441, email jsackton@seafood.com).  Vietnamese Shrimp Having Tough Time Competing in US Market Against Lower-Priced Indian Shipments.  Michael Ramsingh (phone 1-732-240-5330, email michaelramsingh@seafood.com).  April 21, 2015.

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