In September 2010, the Prime Minister approved Vietnam’s fisheries development strategy through 2020, in which developing marine aqualculture in industrial scale is to satisfy fish demand for export and domestic consumption. In March 2011, the Prime Minister continued approving fisheries development strategy in Vietnam by 2020.
In July 8th 2011, Ministry of Agriculture and Rural Development (MARD) also promulgated the Decision No. 1523/QĐ-BNN-TCTS on approving the plan of developing marine finfish culture by 2015 and the orientation towards 2020 with an aim to producing high fish output for export, domestic consumption and contributing to national economic growth, hunger eradication and poverty reduction, ensuring national security and defence, protecting environment, recovering and reproducing fish stocks at sea and coastal areas.
Tuna is one of high economic seafood products with stable growth in exports. In 2011, tuna export value of Vietnam approached US$380 million, showing a 29.4 percent increase against the same period of 2010 and accounting for 6.3 percent of total seafood export value. However, in the year, many tuna exporters had to spend up to US$120 million on importing raw fish from external origins due to serious shortage of domestic supply amid exhausted fish stocks and low quality of tuna catch. Pursuant to current law, tuna import duty is at very high level of 15-20 percent.
In recent years, along with tuna capturing, oceanic tuna culture has increasingly become popular at many waters in the world. Many countries including Vietnam are taking interest in tuna rearing.
Since 2007, Ministry of Science and Technology (MOST) has assigned Research Institute for Marine Fisheries (RIMF) to implement the project “Research on tuna nursery areas (yellowfin tuna Thunnus albacares and bigeye tuna Thunnus obesus ) for commercial tuna farming”.
After three year implementation, the project succeeded in determining spawning areas of yellowfin tuna and bigeye tuna at high sea in the Central and South-Eastern region. In March 2010, RIMF started the institute-level research project of oceanic tuna farming. MA. Bui Quang Manh – Vice Director of Envinronment Resource Division, the southern Research Sub-Institute for Marine Fisheries in charge of the project said that RIMF in combination with Minh Chi Co., Ltd invested in test farming of 12 oceanic tuna cages on the area of 30 hectares at Van Phong Bay and are cooperating with 128 Hai Quan company in test farming of commercial tuna at Cam Ranh Bay.
The project succeeded in farming over 120 commercial tuna with the average weight of 25-40 kilogram per piece and the monthly growth rate of 2-2.5 kilogram. The project is believed to be highly feasible.
According to Mr. Manh, since the early 2012, RIMF has continued to implement another three year state-level research project (2012-2014) titled “Research on commercial farming of yellowfin tuna (Thunnusalbacares) and bigeye tuna (Thunnus obesus ) in Vietnam” with the expense of over VND7 billion. This project along with the project “Research on biological reproduction and test producing of yellowfin tuna juvenile” of RIMF will be a preparation step for developing tuna farming sector in Vietnam in the future.
Marine aquaculture is one of solution to solve lack of raw fish for processing and exporting. Therefore, in 2012, VASEP Marine Product Committee (VMPC) focus on data collecting, work with relevant units to support seafood enterprises. At mid February 2012, representatives from VASEP, some Vietnam seafood exporters and Sojitz Corporation (Japan) visited and worked with RIMF on research project of tuna farming in Vietnam.Sojitz is the second largest corporation of tuna farming, processing and trading in Japan as well as a great partner of Vietnam seafood sector. Annually, the corporation imported 30,000 MT tuna into Japan. Takashima farm of Sojitz corporation has succeeded in bluefin tuna juvenile producing and farming.
In 2012, Takashima is expected to sell 150 MT of tuna, up to 325 MT in 2013 and 400 MT in 2014. Sojitz is taking care of research project of RIMF on commercial tuna farming and planning to invest in tuna farming in Vietnam.
In the trip from Mar 15th to Mar 16th 2012, VASEP delegation with representatives from Sojitz corporation, RIMF, and some seafood exporters visited and studied tuna farming of Minh Chi Co.,Ltd at Van Phong Bay and farm of RIMF at Cam Ranh Bay, Khanh Hoa province.
Mr. Kunihiro Igari, a fish culture expert of Try-Tokyo Corporation highly appreciated the potential of tuna breeding in Van Phong and Cam Ranh Bays. The weather conditions in these two bays are favourable for tuna rearing. However, the source of Vietnam tuna fingerlings is mainly from wild-catching which is a serious concern of Try-Tokyo before deciding investment in Vietnam.
Sojitz needs to have further information and data on natural conditions of tuna farming area in Vietnam, incentive policies of Vietnam government to large-scaled industrial tuna farming. Sojitz is looking forward to receiving feedback and participation of Vietnam seafood enterprises.
To realize Vietnam government’s orientation in aquaculture development, especially marine aquaculture, there is a need of linkage among competent authorities, Vietnam seafood enterprises and interested partners.
(seafood.vasep.com.vn) The US remains Vietnam’s largest single market for shrimp imports, accounting for 20% of Vietnam's total shrimp exports globally. As of October 15th, 2024, Vietnamese shrimp exports to the US reached nearly 600 million dollas, marking a 10% increase compared to the same period in 2023.
(seafood.vasep.com.vn) According to Vietnam Customs, pangasius exports to Canada reached over 1 million USD in the first half of October 2024, a 33% decrease compared to the same period last year. However, by October 15, 2024, total pangasius exports to Canada had reached 32 million USD, reflecting a 10% increase compared to the same period in 2023.
(seafood.vasep.com.vn) Cà Mau is accelerating its digital transformation, developing green industries, and promoting high-tech processing of agricultural and aquatic products, with a focus on sustainable economic growth and environmental protection.
(seafood.vasep.com.vn) The Dong Thap Pangasius Festival 2024, themed 'Dong Thap Pangasius: Green Journey - Green Value', will take place on November 16-17 in Hong Ngu City.
The positive business momentum in the domestic seafood sector could last into the first half of 2025, according to experts.
(seafood.vasep.com.vn) In the first three quarters of 2024, brackish water shrimp production exceeded 1.1 million tons, with export revenue reaching $2.8 billion. The seafood industry has set a target of $4 billion for shrimp exports for the entire year.
While the price of 1 kg of shrimp hovers around 20 USD, the value of 1 kg of chitosan—extracted from shrimp—can soar to 500 USD. This highlights a significant challenge within the seafood processing industry.
(seafood.vasep.com.vn) By October, Vietnam's shrimp exports had generated nearly $3 billion, reflecting an increase of over 10% compared to the same period last year. Shrimp remains the leading commodity contributing to the export turnover of the entire seafood industry.
(seafood.vasep.com.vn) Sao Ta Foods Joint Stock Company (FIMEX VN - HoSE: FMC) concluded Q3/2024 with significant growth in revenue. Specifically, Sao Ta Food recorded revenue of VND 2,845 billion, a 58.6% increase year-on-year. The company's profit after tax reached VND 95 billion, up 6.2%.
VASEP's Seafood Export Report for the third quarter of 2024 provides a comprehensive overview of Vietnam's seafood export performance in the first nine months, with impressive results reaching $7.2 billion—an increase of 9% over the same period last year. In the third quarter alone, seafood exports grew by 15%, totaling $2.8 billion. This growth is attributed to a recovery in demand and prices in key markets such as the U.S. and China, as well as the competitive advantage of value-added products in markets like Japan and Australia.
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