There is an opening for further South East Asian expansion in the US seafood market, a new report for the East West Center states.
According to its author, Mr Ray Hervandi, South East Asia's share in the US imported seafood market is already substantial at 31% in 2010 and the region is likely to grow more significant in the market thanks to its sustained expansion of aquaculture, or raising fish in farms on an industrial scale.
"Aquaculture in South East Asia is diversified, comprising freshwater fish, aquatic plants, crustaceans, marine fish, and mollusks. Shrimps and freshwater fish constitute the two most highly priced products of South East Asian aquaculture. Total output of South East Asian aquaculture tripled from two million tons in 1990 to seven million tons in 2005, and annual average growth rates in output in the 2000s more than doubled those during the 1990s," he states.
However, it is likely that South East Asian exporters will also face "rough waters" such as facing accusations of "dumping fisheries products, in particular catfish and shrimps" and dealing with the S.50 Commercial Seafood Consumer Protection Act currently under consideration in the US Senate.
According to its author, Mr Ray Hervandi, South East Asia's share in the US imported seafood market is already substantial at 31% in 2010 and the region is likely to grow more significant in the market thanks to its sustained expansion of aquaculture, or raising fish in farms on an industrial scale.
"Aquaculture in South East Asia is diversified, comprising freshwater fish, aquatic plants, crustaceans, marine fish, and mollusks. Shrimps and freshwater fish constitute the two most highly priced products of South East Asian aquaculture. Total output of South East Asian aquaculture tripled from two million tons in 1990 to seven million tons in 2005, and annual average growth rates in output in the 2000s more than doubled those during the 1990s," he states.
However, it is likely that South East Asian exporters will also face "rough waters" such as facing accusations of "dumping fisheries products, in particular catfish and shrimps" and dealing with the S.50 Commercial Seafood Consumer Protection Act currently under consideration in the US Senate.