South Australian tuna sales to both China and Korea have risen from just 10 tons in 2012, to as much as 156 tons last year.
This year it is expected that this will rocket again, with up to 500 tons of fresh chilled bluefin being shipped from Port Lincoln’s tuna farms, before rising to 1,000 tons in 2015.
Port Lincoln tuna baron, Hagen Stehr, said that the rising sale of tuna to China and South Korea would likely lead to a buy-up of Port Lincoln tuna companies by Chinese seafood operators to help secure their future seafood supplies.
He said: “They have to because they are eating a lot more tuna in China, but it is getting harder and harder to find supplies around the world. Quite a few people are closely scrutinizing the Port Lincoln tuna farms as they consider buying into the industry.”
Stehr said that he believed fragility of some tuna businesses, along with changing business needs and regulations imposed by the Australian Fisheries Management Authority in Canberra, would mean that several companies would sell out to Chinese buyers.
Just last month, Australia’s largest fishing company, Austral Fisheries sold 50 percent of its firm to Japanese company, Maruha Nichiro Holdings. Chinese seafood investors have also bought a 25 percent stake in Tassal Group, Australia’s largest seafood company. The Chinese government is providing investment funds for its industries to buy seafood assets abroad.
Stehr added: “Consumption of tuna will increase rapidly in China and I know of Japanese companies pushing increasingly into China to sell tuna. It is inevitable that more people will come to Australia to secure their food and one is China with its 1.3 billion people.”
He stressed that Australia needs to improve its strategy for the agribusiness sector and food industry. “New Zealand is a small country with only four million people, but it is far ahead of Australia in marketing to China and Japan and they are a lot more switched on in selling their produce,” he said.
(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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