In 2013, whiteleg shrimp farming area and production in Vietnam reported a year –on-year growth of 57.9 percent and 50.5 percent, respectively. Soc Trang province, the largest farming region of the shrimp in Vietnam, reported a 10-fold surge to reach 15,686 hectares from 1,500 hectares in 2012. Accordingly, the production rose to 45,500 MT from 13,580 MT of 2012. The farming area and production of the species in QI/2014 are on upward trend and they are expected to continue the trend in 2014.
According to Directorate of Fisheries, through January 2014, farmers stocked 7,034 hectares of whiteleg shrimp and 120,441 hectares of black tiger shrimp. Through QI/2014, these figures are expected to report 23-fold growth to 162,397 hectares of whiteleg shrimp area and 124,960 hectares of black tiger shrimp.
In 2014, the shrimp sector and management agencies will strengthen controlling diseases and stocking areas to ensure shrimp supply and remain sustainable development.
Surge in global demand and price of whiteleg shrimp
In 2013, the global shrimp price reported record highs. The whiteleg shrimp price reported sharper growth than that of black tiger shrimp. In the year, whiteleg shrimp price in some sizes was equal or even higher than black tiger shrimp in same sizes.
In 2013, global shrimp production declined due to shortage of supply from Thailand and China, two leading whiteleg shrimp producers in the world. Accordingly, the price of the species reported soaring increase of US$4 per kilogram in the U.S. and EU markets and US$3-5 per kilogram in Japanese market. In 2014, the shrimp price may remain high levels due to sluggish supply of the species.
In January 2014, the upward trend in vannamei shrimp price continued in these three markets because harvest season was over.
In the U.S. market, in the early days of 2014, vannamei shrimp price reported high level of US$6.30 per lb and increased to US$6.50 per lb in February.
EU market currently imports whiteleg shrimp mainly from Ecuador because suppliers from Thailand, India and some Central American countries have completed harvesting. In the market, the price of whiteleg shrimp HOSO count 40/50 originated from Ecuador increased to US$9.75 per kilogram until mid January 2014 from US$9.50 of the early January.
Through 20 January 2014, whiteleg shrimp HLSO imported into Japan was US$5 per kilogram higher than that of black tiger shrimp quotation. The black tiger shrimp HLSO count 21/25 from Indonesia was priced at US$10.7 per kilogram while whitteleg shrimp with the same size and origin was quoted at US$15.5 per kilogram in the 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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