Seafood imports put at US$508 million in Jan-May

CAN THO – Vietnam spent US$87 million importing seafood in May, taking to US$508 million the total in the first five months of the year, according to a Ministry of Agriculture and Rural Development report.

India was Vietnam’s largest seafood exporter, accounting for 25.7% of the nation’s total seafood imports, followed by China with 9.1%, Norway with 7.3%, Taiwan with 6.4% and Japan with 5.6%.

Inspectors of the European Union (EU) have checked some shrimp exporting enterprises in Bac Lieu and Ca Mau, Vietnam’s two major shrimp farming provinces, due to doubts about the designation of origin.

At an annual economic forum held by the Can Tho government in mid-April, Tran Thanh Hai, deputy director of the Import-Export Department at the Ministry of Industry and Trade, said the EU suspected Vietnamese enterprises might have imported shrimp from India and elsewhere, and then shipped it on to the EU.

Currently, Vietnam enjoys a much lower EU import tax on shrimp than other countries. For instance, the tariff for unprocessed shrimp imports from Vietnam to the EU is 4.2% compared to 12% for shrimp from India. Vietnam is also entitled to a tax of about 7% for semi-processed shrimp while India faces 20%.

Deputy Minister of Agriculture and Rural Development Vu Van Tam said the ministry was willing to cooperate with inspection teams from the EU and other markets.

A report by the Vietnam Association of Seafood Exporters and Producers (VASEP) showed that Vietnamese shrimp exports to the EU amounted to US$118.8 million in the first quarter of 2017, up 6.4% year-on-year. The EU was Vietnam’s second largest shrimp importer, making up 19.2% of the total.