Vietnam seen leaving Indian seafood cos at sea
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[February 06, 2006]

Vietnam seen leaving Indian seafood cos at sea

(The Economic Times (India) Via Thomson Dialog NewsEdge): First it was the cashew industry that felt the heat of competition from Vietnam. Then it was in pepper and coffee. This time round it is the Indian seafood industry that has realised that Vietnam has already become a bigger player in the global market.



The growth of the seafood processing industry in Vietnam can be understood from the fact that their export turnover stood at $2.5bn last year. This is likely to touch $3bn. As compared to this, the export turnover of the Indian seafood sector stood at $1.4bn.

Till the early '80s, Vietnam had just 10 seafood factories and the export turnover stood at around 30m. The country has now around 300 seafood processing plants. About 150 of these units have been functioning as per HACCCP standards while 100 units work as per EU standards.



By '00-01 the export from Vietnam had increased to $1.5-1.6bn. The target that the country has set for '10 is around $3.5bn. Already, it has achieved $3bn.

The growth in the seafood industry is so impressive that today it is propelling the entire economy forward. Fish and seafood constitute the second most important export product for Vietnam after rice. The total production stood at 2.5m tonne with shrimp production at 180,000 tonne per year.

Spokesmen of the Seafood Exporters Association of India pointed out that Vietnam has made tremendous strides in cage culture to increase the 'Basa' production. Vietnam is also making significant inroads to the major markets like EU, they added.

Through cage culture, Vietnam has been growing such diverse varieties as scampi, basa which is a cat fish variety, snapper, grouper, cobia, milk fish which is used as a bait for tuna fishing, among a host of others.

All this culture is done by small and marginal fishermen, sources said. Today, Vietnam is even assisting Indian entrepreneurs to develop new value added products, said a processor-exporter.

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