VietNam 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 VietNam Association of Seafood Exporters and Producers (VASEP).
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Vietnamese workers are processing tra catfish for export
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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, VietNam 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./.