Pangasius products reported an annual export value 10 times higher than that of rice – another key export item of Vietnam. As rice export is facing difficulties, Vietnamese government should develop the export-driven pangasius industry to compensate losses. “The government needs to reorganize fish exporters and aquatic feed outside sources in order to facilitate and help all steps in the production chain to gain profits. It is also necessary to reach unanimity among export companies,” said Do van Nghiep, Director of AFA Seafood Company.
To develop pangasius as a key export item of An Giang, local authorized agencies should reconsider links between export companies and fish farmers, creating the unanimous agreement within export community and between exporters and farmers in order to build up a stable fish supply for processing and subsequently export. In addition, improving the quality of raw and processed pangasius is necessary to raise competitiveness against competing products produced in India and other supplying countries in the coming time. Therefore, the National Agro–Forestry-Fisheries Quality Assurance Department (NAFIQAD) would strengthen its role in preventing exports of low quality products by some companies.
It is time to consider pangasius as a specified export product and set conditions for exporters in purpose to enhance their production capacity and responsibility, regaining confidence of international consumers on the real value of Vietnamese pangasius.
Vietnamese pangasius companies needs to intensify promotions of products in both domestic and foreign markets. Over the two recent years, consumption of pangasius strongly increased in main wholesale markets in Ho Chi Minh City and some other provinces. It will be a good opportunity for Vietnamese companies to introduce products in domestic markets.
(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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