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Catfish export to Russia surges in November

VGP - Việt Nam exported 3,085 tons of tra and basa catfish (US $5.1 million) in the first half of November, drastically increasing in volume and value against the same period last, according to the Việt Nam Association of Seafood Exporters and Producers (VASEP).

December 11, 2009 10:10 AM GMT+7

Vietnamese workers are processing tra catfish for export – Illustration photo
Between January and mid-November, Russia imported over 39,000 tons of Vietnamese catfish, worth nearly US $63.7 million, down roughly 63% compared to 2008.

According to VASEP, although Russia is a promising market but it is vulnerable to changes and risks. Fees for opening letters of credit (L/C) at Russian banks are much higher than other countries, so most of Russian firms do not want to open L/C. Other modes of payment are risky for exporters.

In the first half of November, tra export to the US and ASEAN surged 53% and 31.5% respectively.

Up to mid-November, Việt Nam earned nearly US $1.2 billion from catfish, down 10% against the same period last year. The country’s catfish export is estimated to reach the year target of US $1.3 billion, according to the VASEP.

 

By Ngọc Vân