Two key export commodities, pangasius and frozen warm water shrimps, slumped by 8 percent. The challenge for the country now is shortage of raw material and more barriers in export procedures from countries. This also places a hurdle for the country’s export target of $6.5 billion.
For years, the Mekong delta
The departments of agriculture and rural development in
Tran Hoang Dung, deputy head of the Department of Agriculture and Rural Development in Tran De District of Soc Trang Province said farmers have cultivated 600 hectares of farm land for breeding shrimps, however diseases have killed more than 10 percent of the crop.
Staffs from the departments have warned farmers to wait for right time to cultivate shrimps in a bid to reduce losses. Accordingly, there is a severe shortage of shrimps, resulting in closed doors for many processing factories.
Despite hard times, enterprises are struggling to survive and applying new techniques and opening export markets, similar to what the Go Dang Company did. Nguyen Van Dao, the company director, said thanks to right direction that the company took; it has seen an increase of 10 percent in export turnover in three first months forecasting it will wrap up 2013 with a $45 million export turnover.
Meanwhile, Nam My Company’s policy is to widen its market base, which proved right as company’s revenues hiked by 10 percent.
According to experts, difficulties prevail in small firms with no long-term strategies. The existing problem is that price is still low which cannot reap profits for farmers.
Duong Ngoc Minh, VASEP’s deputy head, proposed a punishment on deceiving firms that destroy the image of the country’s pangasius industry. Minh said the goal should be not on export targets but on improving the quality.
(seafood.vasep.com.vn) Sao Ta Foods Joint Stock Company (ticker symbol FMC - HoSE), one of Vietnam's largest shrimp exporters, recently announced its 2024 business results.
(seafood.vasep.com.vn) The United States remains one of the largest importers and consumers of Vietnamese pangasius, primarily in the form of frozen fillets. However, in recent years, the country has significantly increased its imports of value-added pangasius products.
(seafood.vasep.com.vn) After reaching a peak of nearly USD 6 million in June 2024, the export value of Vietnamese tuna to Italy has stagnated and continuously declined in the last five months of the year. Cumulatively, by December 15, 2024, export turnover to this market decreased by 18% compared to the same period in 2023, reaching over USD 30 million. With this decline, Italy is no longer Vietnam's largest tuna import market within the EU bloc.
The Mekong Delta province of Tien Giang, with its 32-km coastline, is well-positioned to develop a thriving seafood industry. Recognising the importance of sustainable offshore fishing, local authorities have implemented policies to modernise the fishing fleet and support operations in offshore waters.
(seafood.vasep.com.vn) On the evening of December 23, 2024, in Ho Chi Minh City, the Vietnam Association of Seafood Exporters and Producers (VASEP) held a ceremony to celebrate the seafood export milestone of 10 billion USD, with hopes for continued growth in 2025. The event was attended by Deputy Minister of Agriculture and Rural Development Phung Duc Tien, Deputy Minister of Foreign Affairs Nguyen Minh Hang, and representatives from various ministries, as well as domestic and international partners.
(seafood.vasep.com.vn) With a market share exceeding 10% in Vietnam's aquafeed sector, Sao Mai Super Feed has affirmed its position as one of the leading brands, making a significant contribution to the development of the pangasius industry and elevating Vietnamese pangasius products on the international stage.
Secretary General of the Vietnam Association of Seafood Exporters and Producers (VASEP) Nguyen Hoai Nam said that in the past 5-6 years, Vietnam's seafood export value has only hovered around 8-10 billion USD/year. To reach the value of 16 billion USD by 2030, Mr. Nam proposed establishing corporations/enterprises to exploit the sea.
(seafood.vasep.com.vn) Vinh Hoan Seafood (stock code VHC) announced that its export turnover to three key markets— the U.S., EU, and China—grew between 32% and 40% in November 2024 compared to the same period in 2023.
(seafood.vasep.com.vn) Shrimp exports for the first 11 months of 2024 brought in nearly 3.6 billion USD, up 22% compared to the same period last year. Exports to major consumption markets all recorded double-digit growth.
(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.
VASEP - HIỆP HỘI CHẾ BIẾN VÀ XUẤT KHẨU THỦY SẢN VIỆT NAM
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