Although this is a relatively small market, the UAE is considered a potential one due to its growing demand for seafood, including shrimp, especially after the recent signing of the Vietnam-UAE Comprehensive Economic Partnership Agreement (CEPA), which opens up new opportunities for shrimp exports to this market.
In the first nine months of this year, shrimp exports to this market reached US$7.4 million, accounting for 0.3% of the total and growing by 34% compared to the same period in 2023.
Key shrimp products exported to this market include frozen black tiger shrimp, frozen cooked PDTO whiteleg shrimp, frozen fresh EZP shrimp, frozen whole black tiger shrimp, frozen cooked whiteleg shrimp, frozen fresh PD shrimp, frozen breaded whiteleg shrimp, frozen fresh whiteleg shrimp, and frozen fresh Nobashi whiteleg shrimp.
Major shrimp exporters to the UAE include Ca Mau Seafood Processing and Service Joint Stock Company, Nam Kinh Seafood Company Limited, Minh Phu Seafood Corporation, and Minh Phu Giang Seafood Joint Stock Company.
|
Top 10 Largest Shrimp Exporters to UAE, Q1-Q3/2024 |
||
|
No. |
Company name |
Proportion (% Value) |
|
1 |
Ca Mau Seafood Processing and Service Joint Stock Company |
26,3 |
|
2 |
Nam Kinh Seafood Company Limited |
22,8 |
|
3 |
Minh Phu Seafood Corporation |
14,4 |
|
4 |
Minh Phu - Hau Giang Seafood Joint Stock Company |
7,4 |
|
5 |
Seafood Travel Construction Import-Export Joint Stock Company |
6,2 |
|
6 |
Dong Nam Seafood Import-Export Company Limited |
4,7 |
|
7 |
Sapawi Company Limited |
3,2 |
|
8 |
Silvera Food Trading Company Limited |
2,2 |
|
9 |
Phuoc Long Seafood Import-Export Company Limited |
2 |
|
10 |
Gallant Ocean Vietnam Joint Stock Company |
1,5 |
|
(Source: compiled by VASEP, for reference only) |
||
In the UAE market, Vietnamese shrimp face competition from India, China, and Ecuador. India dominates nearly 60-70% of the market share, while Ecuador has recently entered the market with a 15% share, whereas Vietnam's market share is only about 5-7%. India seems to have taken advantage of tariff preferences in this market to increase its shrimp export market share over the years. It is expected that with the newly signed CEPA, Vietnam is hopeful that its shrimp exports will soon enjoy the highest tariff incentives, facilitating an increased market share.
CEPA is Vietnam’s first free trade agreement with an Arab nation, opening a new era in upgraded and increasingly substantive relations between Vietnam and the UAE in particular and Arab countries in general.
Notably, both sides have made strong commitments to trade liberalization, with the UAE pledging to gradually eliminate tariffs on 99% of Vietnam's exports to the UAE. The agreement also includes many provisions to facilitate trade and investment, in line with current trends of digital transformation and green development.
With its strategic geographic location, advanced logistics system, and modern seaport infrastructure, the UAE serves as a vital gateway that can enable Vietnamese goods to access and expand into Middle Eastern, African, and European markets.
Moreover, the growing population, high income levels, rapid urbanization, increasing disposable income, and young people's preference for seafood, as well as the increasing online search for seafood products in recent years are expected to boost seafood consumption in the region.
However, the UAE remains a highly competitive market in terms of price and quality. Vietnamese enterprises need to adopt advanced science and technology in production, adjust management methods, minimize intermediate costs, in order to reduce product costs and enhance the competitiveness of their products. In addition, enterprises need to build a Halal certification system for shrimp products when exporting to this market.
(seafood.vasep.com.vn) In 2023, total pangasius imports into the European Union saw a significant decline compared to the previous year. Approximately 70,000 tons were imported, 3,000 tons less than in 2022, according to a report from FAO-Globefish.
(seafood.vasep.com.vn) On December 11, Vinh Hoan Joint Stock Company (Vinh Hoan Corp) was once again honored in the "Top 50 Most Effective Businesses in Vietnam" ranking, compiled annually by the Investment Bridge Magazine. This marks the 11th consecutive year Vinh Hoan has been recognized in this prestigious list.
(seafood.vasep.com.vn) The purchase price of raw pangasius in the first 11 months of 2024 remained at 26,000-27,000 VND/kg. However, farmers faced challenges in earning profits due to rising costs of fish feed, fuel, and labor during the year.
(seafood.vasep.com.vn) Sao Ta Foods Joint Stock Company (FIMEX) recently announced its production and business results for November 2024, showing a 5% year-over-year increase in revenue but a 21% decline compared to the previous month.
(seafood.vasep.com.vn) Soc Trang province underscores the critical role of the fisheries sector in driving its socio-economic development. Located along Vietnam's coastline, the province features 72 km of shoreline, three major estuaries—Dinh An, Tran De, and My Thanh—and a dense river network encompassing diverse ecosystems, including saltwater, brackish, and freshwater. These natural resources provide ideal conditions for the growth of aquaculture, making the fisheries sector a cornerstone of Soc Trang’s economic strategy.
(seafood.vasep.com.vn) In 2024, the pangasius industry in Dong Thap is projected to achieve a production value of VND 8.802 billion, marking a 2.86% increase compared to 2023 and accounting for over 17% of the province's total agricultural, forestry, and fishery production value.
(seafood.vasep.com.vn) Vietnam's tuna exports to Japan have seen robust growth over the past two months. Data from Vietnam Customs shows that in October 2024 alone, tuna exports to Japan surged by 31% year-on-year, reaching nearly USD 3.5 million. This growth has offset the decline experienced in the first half of the year, raising the total export value for the first ten months of 2024 to nearly USD 28 million, a 5% increase compared to the same period last year.
A business forum was held by the Dutch Embassy in Vietnam in collaboration with the Ministry of Agriculture and Rural Development (MARD) in the Mekong Delta city of Can Tho on November 27, seeking ways for sustainable aquaculture in the region.
(seafood.vasep.com.vn) On November 18, Ms. Truong Ha Phuong Anh, Director of the Center for Investment Promotion and Business Support (iPEC), stated that during the Ca Mau Province Agricultural and Aquatic Products Trade Promotion Conference 2024, held on November 15, there were 209 direct trade interactions between 42 seafood processing and exporting enterprises, OCOP producers in the province, and five leading domestic retail companies: Central Retail, Saigon Co.op, Kingfood Mart, Bach Hoa Xanh, and Satra Supermarket.
In 2024, the Binh Dinh Agricultural Extension Center successfully implemented a semi-intensive and intensive two-stage whiteleg shrimp farming model using Semi-Biofloc technology.
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