Exports to the UK increase
The EU, the second largest pangasius export market experienced decline. When most markets in the bloc declined, exports to the UK in the first 8 months of 2015 rose by 21.8%.
Exports to China ups along with the rise of China in US market
By August, Vietnam pangasius exports to the US reached US$ 207.9 million, down 1.7% from the same period last year. This market occupied 20.3% of total pangasius export from Vietnam. Pangasius exports to the US slipped from the beginning of the year. This was caused by anti-dumping duty and competition against products from China. Data from International Trade Center (ITC) revealed that through July, total US imports of pangasius and catfish fell 6-12% over the same period last year.
Previously in QI/2015, US imports of tilapia and pangasius surged by 52-53%, followed by a fall in QII/2015. Tilapia imports decreased by 12.5% while imports of pangasius and catfish downed 6.8% year on year.
It is noted that there is a rise in imports from China. In QIV/2014, pangasius and catfish sourced from China accounted for only 2.6% of imports of the US but by QI/2015, the proportion climbed to 16.2%. Starting from QIV/2014 when import from China surge 411% quarter-by-quarter, imports from China increased by 46% in QI/2015.
It is a fact that China has significantly upped imports of pangasius from Vietnam. In particular, pangasius exports to China reached US$ 99.9 million after 8 months of this year, up 48.2%. This explains the rise of China in US catfish and pangasius market.
(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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