First - the business climate. Europe is not monolithic, and although you may see headlines about European economic problems, they are impacting different countries very differently.
The biggest problems for seafood are Spain and Greece, with the Spanish market being especially vulnerable. Spains weakness may spill over into the cod market, and into some types of shrimp, as sales that would have gone to Spain seek homes elsewhere.
But business is strong in Germany, the UK and other parts of Europe, including Russia, and so there is no indication that somehow the European market is suffering a crisis at this time.
One of the major themes is value added seafood. At the Dutch seafood breakfast, major importer and European distributor Culimar introduced new branding, for its responsible artisanal seafood.
Marketing manager Martin Van Geest also said they were competing with a plague of adulterated products - particularly shrimp, where a 20% glaze product often does not produce 800 grams of net weight - but 750 or less. In southern Europe, price is supreme and it is very hard to sell 100% net weight. Their business is targeting high end foodservice and customers who want guaranteed quality.
Culimar also introduced a new snow crab item, a merus pack of snow crab meat harvested in Korea and processed in their plant in Vietnam. There is an opportunity for snow crab in Europe, both as sections and meat, and it is being driven by chefs who want an alternative to high priced king crab.
Over time, snow crab should become a more important item in Europe.
There is a huge ongoing debate here about marketing sustainability. There is a lot of spin from different organizations about how important their label is, and there is a sense that the fight over sustainability certifications is hurting the industry.
Alaskan companies have both reported some customers who wish to retain an MSC label - for marketing reasons such as having packaging created, and having invested in educating customers, while others say their buyers in some of the most sophisticated markets, like Germany, are fine with the Global Trust Certification.
In fact, Mark Tupper, president of Triad Fisheries which markets troll caught kings and coho under the Bruce Gore label, said his customers in Germany were fine with their switch to Global Trust Certification.
In fact, Triad is just completing the chain of custody inspection, and plans to be the first Alaskan company certified with the Global Trust chain of custody certification.
We will have much more about the sustainability issues, but long term, it is clear that there is a different environment emerging about how to market sustainability, and the discussion has moved from whether a fishery is sustainable or not, to how to best convey that to consumers.
Finally - cold water shrimp prices are still not settled, and may not be settled at the show this year. Some major Canadian companies want to get some feedback from customers and then look at their costs to determine final pricing - but no one thinks the market can sustain an increase. The issue is how to maintain stability.
(seafood.vasep.com.vn) In 2024, Ben Tre province expanded its high-technology application in aquaculture by an additional 523 hectares, surpassing the planned target of 500 hectares and achieving a fulfillment rate of 104.6%. To date, the province has converted 3,633 hectares to high-tech aquaculture out of the 4,000-hectare goal, representing 90.82% progress towards the 2021-2025 phase plan. This sector yields an average productivity of 60-70 tons per hectare, with a total output reaching 221,282 tons. The average profit margin ranges from VND 700 to 800 million per farming season, delivering substantial economic benefits to the local populace.
(seafood.vasep.com.vn) In 2025 In 2025, Vietnam's brackish water shrimp industry will continue to grow sustainably, enhancing value-added products with strong contributions from local authorities and the business community.
(seafood.vasep.com.vn) In January 2025, the country's total seafood output was estimated at 594,100 tons, a 0.7% increase compared to the same period last year. Specifically, fish production reached 443,400 tons, up 0.7%; shrimp output was 56,300 tons, up 3.1%; and other seafood products totaled 94,400 tons, down 0.9%.
(seafood.vasep.com.vn) The industrial pangasius production in Vinh Long province in 2024 reached 95,100 tons, a 4% decrease compared to 2023. Despite the decline in production, positive trends in the final months of the year offer hope for improving economic efficiency in the near future. Additionally, the increase in the area for industrial pangasius farming and the maintenance of overall aquaculture area demonstrate the province’s efforts to sustain its production activities.
(seafood.vasep.com.vn) In January 2025, Vietnam's total seafood export value reached 774.3 million USD, a 3.3% increase compared to the same period in 2024. This is a positive result compared to January 2023, when the Lunar New Year fell at the end of the month, significantly impacting export outcomes.
(seafood.com.vn) In 2024, Vietnam exported shrimp to 107 markets, up from 102 in 2023. The top 5 major markets for Vietnam’s shrimp exports were China & Hong Kong, the U.S., Japan, the EU, and South Korea, accounting for 76% of the total shrimp export value.
(seafood.vasep.com.vn) In 2024, Vietnam's seafood sector successfully exported to numerous countries, reaching a milestone of USD 10 billion, a 12% increase compared to 2023. 2025 promises to be a prospective year for promoting exports to various markets, including target and potential markets such as the US, China, ASEAN, and the Middle East.
(seafood.vasep.com.vn) The EU has been one of the largest consumers of Vietnamese pangasius over the past decade. However, data from Vietnam Customs reveals a gradual decline in EU imports of pangasius from Vietnam over the last five years.
The Report on Vietnam Seafood Exports in 2024 by the Vietnam Association of Seafood Exporters and Producers (VASEP) was published amid positive developments in the country's seafood industry, marking a successful year with a total export value of USD 10 billion, a 12% increase compared to 2023. This milestone underscores the sustainable growth and exceptional potential of the seafood sector in contributing to the national economy.
(seafood.vasep.com.vn) Vietnam's tuna sector faced numerous challenges in the latter half of 2024. While the year proved memorable, with export turnover reaching nearly USD 1 billion, maintaining this growth trajectory requires renewed impetus for the tuna industry.
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