During the last four weeks, equatorial sea surface temperatures have been more than 0.5ºC above average across the Eastern Pacific Ocean, according to the Climate Prediction Center of the U.S. National Oceanic and Atmospheric Administration (NOAA). The continued warmth, along with model forecasts, means there is “increased confidence for a weak-to-moderate El Nino during the Northern Hemisphere fall and winter 2012-13.”
The climate pattern occurs across the tropical Pacific Ocean about every five years and it is known to drive tuna stocks away from fishing grounds off the eastern coast of South America. In 2010, skipjack catches in the Eastern Pacific Ocean (EPO) declined by more than half, when compared to 2008 levels, after an El Nino period developed in mid-2009 and continued into the first quarter of 2010.
To escape the warmer temperatures, tuna fish migrate west where fishermen in the Western and Central Pacific (WCP) eagerly wait for the favorable fishing conditions. In 2009, skipjack catches increased by about 10% in the WCP from the previous year. Similarly in 2010, skipjack catches in the WCP were about 6% higher than 2008 levels, reaching 1,610,578 tons.
According to the Western and Central Pacific Fisheries Commission, the organization in charge of the region’s management, fishing effort typically expands to the east during El Nino years and contracts to western areas of the WCP (Papua New Guinea, Federated States of Micronesia and Solomon Islands) during periods of its cooler opposite, La Nina.
Korean tuna giant, Dongwon, is already anticipating higher profits this year due to the influx of tuna in its fishing region.
The Climate Prediction Center indicates El Nino conditions are likely to develop during August or September.
(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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