Weak seafood exportsThis article was originally published in Foodnews
VIETNAMESE seafood exports in January-April fell 6% from the same period last year to US$1.05 billion, and processors are expecting further declines as the recession hits demand and farming areas shrink. While some seafood processors are struggling to get business, others are refusing to sign contracts as they face a shortage of raw material. Many farmers stopped breeding tra fish, basa fish and shrimp after incurring significant losses last year, caused by falling price and rising feed costs. Seafood exports in 2009 may fall 12% to US$4.0 billion, Vietnam's Minister of Agriculture and Rural Development, Cao Duc Phat, said in January.