After the vaccination campaign and economic stimulus package since the beginning of the year, the seafood demand in the EU has recovered significantly, along with the tariff advantages from the EVFTA, which is an opportunity to promote the export of most of Vietnamese seafood products to this market.
Accordingly, shrimp exports increased by nearly 19% to reach 613 million USD, accounting for nearly 57% of seafood exports to this market. The top 3 markets in the bloc including the Netherlands, Germany and Belgium all increased imports of Vietnamese shrimp in the past year. In which, exports to the Netherlands increased by 10%, to Germany by 25% and to Belgium by 19%. Not only whiteleg shrimp exports but also black tiger shrimp to these markets recovered compared to the previous year. Notably, whiteleg shrimp exports to Germany increased sharply by 28%, while black tiger shrimp exports to the Netherlands increased by 54%.
Tuna exports accounted for over 13%, reaching over US$144 million, up 6.4%, of which the US imported the most frozen loin/fillet (accounting for 44%), followed by processed tuna other than canned fish. Last year, exports of other processed tuna products increased sharply by 43%, while exports of fresh tuna decreased by 18%. In the three largest markets, Italy, Germany and Spain, only Italy increased tuna imports, the other two markets decreased imports of Vietnamese tuna in the past year.
Pangasius exports to the EU continued to decline from previous years, with a negative growth rate of nearly 17% and only accounting for less than 10% of total seafood exports to this market. Exports to the top 4 markets including the Netherlands, Belgium, Spain and Germany all decreased (20%, 23%, 9% and 43%). The sharp increase in sea freight rates to the EU is a big obstacle for pangasius enterprises that want to export to this market.
Notably, in the past year, shellfish exports to the EU market skyrocketed 37% to $87 million, mainly because clam exports increased by 42% to $78 million. Clams have become the fourth largest seafood species with export value to the EU market. In which, clam exports to the three largest markets, Spain, Italy and Portugal, all grew by 38-44%.
(Excerpt from the Report on Vietnam's seafood exports in 2021. For more information about Vietnamese seafood products exported to markets, please contact Email: nguyentrang@vasep.com.vn)
(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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