The prices are now between $3,300 (€2,503) and $3,400 (€2,579), subject to deal conditions and specifications, the source told IntraFish.
The price of Norwegian cod has increased by 3 percent to 5 percent compared with the last two months, he said.
“We think cod prices are at the bottom,” said an executive with a trading company. “They are going back up, but we don’t know how high. The main markets, such as Spain and Portugal, are weak.”
Although some small cod was sold at $3,100 (€2,352), “not much” was sold at this price, he said.
“The prices are now $3,250 (€2,465) to $3,350 (€2,541) per metric ton for 1-2 sizes to China,” the trading executive said.
A Norwegian fishing executive confirmed the rise in prices, but said he was not exactly bullish on the future.
“Yes, we see a firming up in the market, but not so strong yet,” he told IntraFish.
Although China is returning to the market, it is not an across the board move, said the source in China.
Some Chinese are buying but more are sitting on the fence,” he said. “I can’t predict the trend, but considering the economic data of the United States is looking good and Italy’s Prime Minister’s optimistic opinion, it is reasonable that the market confidence is restoring.”
Demand on salted fish is improving, said the trading executive. “The problem is that there are stocks of loins in China to shift. Some was moved at Boston, but there are still more volumes in China.”
Buyers in Spain are now buying pallet loads and not containers, he said. “The whole shape of the market is changing.”
(seafood.vasep.com.vn) Vietnam’s shrimp exports reached $394 million in October 2024, up 24%. In the first ten months of this year, shrimp exports brought in $3.2 billion, up 13% compared to the same period last year. Exports to all major markets recorded double-digit growth in October.
International Development and Investment Corporation (IDI), a key member of the Sao Mai Group, has consistently ranked among the largest seafood producers and exporters in Vietnam.
(seafood.vasep.com.vn) In recent years, the US has consistently been Vietnam’s largest seafood export market. Over the past five years, seafood export turnover to the US has ranged from 1.5 billion USD to 2.1 billion USD anually. Despite facing strict protective policies such as anti-dumping and countervailing duties, U.S. market demand remains high, and the quality of Vietnamese seafood continues to improve, helping to maintain and expand its position in this market.
(seafood.vasep .com.vn) The return of Donald Trump to the White House for a second term will bring significant impacts on Vietnam, particularly its pangasius export sector. Trump's economic policies, such as raising import tariffs, reducing corporate income taxes, and attracting foreign direct investment (FDI) back to the US, are expected to directly influence various industries in Vietnam.
(seafood.vasep.com.vn) The UAE ranked 16th among importers of Vietnamese shrimp from 2018 to 2022, accounting for approximately 0.5% of Vietnam's total shrimp export value. Annually, Vietnam exported around US$20 million worth of shrimp to this market.
(seafood.vasep.com.vn) The company also announced that its farms are well-prepared and will begin stocking in mid-November when the weather conditions are favorable.
(seafood.vasep.com.vn) To maximize natural advantages and increase the value of local aquatic products, Ca Mau province is promoting the ecological shrimp farming model under mangrove forests. This model not only brings high profits to people thanks to businesses committing to purchasing products at prices 10-20% higher than the market price but also aims for sustainable development and environmental friendliness.
(seafood.vasep.com.vn) The Comprehensive Economic Partnership Agreement (CEPA) between Vietnam and the United Arab Emirates (UAE) was signed after just over a year of negotiations. With high demand for premium seafood in the UAE, particularly for shrimp and tuna products, Vietnam’s tuna industry is expected to gain increased export opportunities and higher product value thanks to the preferential terms of the CEPA.
(seafood.vasep.com.vn) In October 2024, seafood exports from Vietnam are estimated to exceed $1 billion, marking a 28% increase compared to the same period last year. This achievement signifies the first return to the $1 billion milestone in 27 months, since June 2022, providing a significant boost for Vietnamese seafood enterprises.
(seafood.vasep.com.vn) Under the theme "Dong Thap Pangasius: Green Journey - Green Value," the Dong Thap Pangasius Festival 2024 will take place over two days, November 16th and 17th, at Vo Nguyen Giap Square in Hong Ngu City.
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