Tough times for Vietnamese fish farmers
The export turnover of aqua products in 2012 is likely to reach USD 6.8 billion, about USD 200 million or 12 percent higher than the previous forecast.
However, the news is not all good for many farmers who can't get loans and have been forced to temporarily stop production. The price of tra fish has also dropped and the price of feed risen in the same period.
According to Vu Van Tam, Deputy Minister of Agriculture and Rural Development (MARD), export turnover in 1991 was USD 1.2 billion. In 2011 the figure had jumped to USD 6.1 billion.
Tam said in June this year, Viet Nam earned USD 550 million from seafood exports. This brought export turnover for the first six months to a remarkable USD 2.9 billion, an increase of 10.6 percent against the same period last year.