There are only 473 companies involved in seafood exports during the first five months of this year, down significantly from 800 companies in the same period last year.
However, the Vietnam Association of Seafood Exporters and Producers (VASEP) says the falling number of exporters has not influenced the country's total export value, as those who departed had low turnovers.
The country's five-month seafood exports still experienced a 9.8 percent year-on-year increase, reaching US$2.3 billion, says VASEP Secretary General Truong Dinh Hoe, who attributes this encouraging performance to increasing export turnover of large exporters.
Despite positive increase in terms of value, seafood exporters are now facing numerous difficulties for their business, including shortage of raw materials for processing and insufficient capital for production and increasing input cost.
Slumping demand for Vietnamese seafood in the EU, the country's largest seafood importer due to eurozone debt crisis was also problematic, it said, adding that Vietnam's seafood exports to the market slipped by 7.9 percent year-on-year with shrimp and tra fish witnessing the strongest decreases.
In order to better facilitate seafood exporters in the coming months, the Ministry of Agriculture and Rural Development has recently proposed two stimulus packages of credits worth US$209.5 million.
The proposal, which will be submitted to the Prime Minister for approval, included US$95.2 million package for raw materials purchasers and US$114.3 million ones for tra fish breeders.