The European Commission (EC) has rescheduled an inspection on illegal, unreported, and unregulated (IUU) fishing in Vietnam from May to this upcoming autumn, according to Director of the Fisheries Resources Surveillance Department Nguyen Quang Hung. The visit will take place around September-October instead of May, as previously expected. In the interim, Vietnam will continue to take strict actions to have the EC’s 'yellow card' for local fishery products removed. Deputy Prime Minister Tran Luu Quang is also expected to chair a meeting and conduct a field visit on measures against IUU fishing in coastal areas in June. The Ministry of Natural Resources and Environment (MONRE) will also have a monthly plan for on-site inspections along the coast starting now and continuing until the EC’s visit. Hung emphasised that the key priorities in the meantime are minimising violations committed by local fishing vessels in foreign waters and strictly enforcing regulations. At the same time, authorities must take action for vessel management to ensure eligibility for fishing at sea, in addition to verifying fishery product origins at the ports. “These are the key tasks and they must be radically addressed with visible results from now until September in order for us to have a chance at lifting the ‘yellow card’. “Otherwise, it would be very difficult to report to and negotiate with the EC,” said Hung. Deputy Minister of Agriculture and Rural Development Phung Duc Tien also stressed that authorities must follow the EC’s four groups of recommendations for Vietnam, alongside the completion of policy frameworks, specific action plans and strengthened inspections on fishing fleets. Authorities must also ensure that 100% of the vessels have a vessel monitoring system (VMS) installed, and that no ships are allowed to set sail without meeting all the requirements. A digital tracing plan is also expected to be issued to prevent documentation fraud in product origin certification. Higher administrative fines will also be imposed for violations. According to a report from the MONRE, the EC’s fourth IUU fishing inspection in Vietnam in October last year showed that positive progress had been made, but limitations and shortcomings still remain, which means the 'yellow card' warning has not been removed. The removal of the 'yellow card' on marine products is seen as a critical and urgent task for Vietnam, as the European Union is among the top three largest export markets for Vietnamese seafood, only behind the US and China./.
(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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