The primary purpose of publishing this report is to highlight the activity of the European processing industry and its reliance on imported raw materials.
Despite important changes made on the study during the last years, it consistently reflects the fact that the processing industry is reliant on stable supply of raw materials from a wide range of fish and seafood species.
The report shows the recent trends in supplies of many whitefish/finfish species, tuna, herring, mackerel, surimi, and some freshwater fish species and for the first time data for shrimps and cephalopods. Some of the key findings of this year are as follows:
· Total market supply has stayed static at 14.7 million tonnes
· Imported share has grown to 9.548 million tonnes and equals 65 per cent
· Whitefish import dependency has stayed level at 89 per cent for wild capture and > 91 per cent including aquaculture products
· EU catches estimated to have reduced to 4.821 million tonnes (inc. nonfood use)
· Exports have moved down by 13.7 per cent to 1.870 million tonnes
· Cod is number one whitefish species moving above one million tonnes
· Alaska pollock back to number two with growth of 18 per cent
· Global quota trends are positive
The findings confirm that imports are the backbone of the EU processing industry. In the context of a complex regulatory environment with direct and potentially significant relevance to the sector, AIPCE-CEP continues its stance of being actively engaged using its expertise and technical competences to provide coherent business feedback and suggestions to the members of the European Parliament, the EU Commission and EU member states. A successful market for fish and seafood in the EU is best served by having a vibrant and sustainable fishing sector in the EU and in parallel to allowing the use of well managed resources from all around the world.
(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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