Of that, imports of canned tuna accounted for 99% of the total import value of tuna into the country in recent years. 100% of canned tuna products in Egypt were imported due to the fact that the country does not have any processing plants. Most of the processed/canned tuna products imported into this country are for domestic consumption, with only a few being exported to Sudan.
Egypt also mainly imported canned tuna products from Vietnam. The export value of this item always accounted for over 97% of the total value of Vietnam's tuna exports to the market. This year, Vietnamese enterprises boosted exports of fresh/live/frozen and dried tuna to this market, although the value was still low.
Egypt currently imported tuna from 12 countries around the world. Thailand, Indonesia, Vietnam, the Philippines, China and Italy were the six largest tuna suppliers to the Egyptian market. Of that, ASEAN countries accounted for over 91% of the total value of Egyptian tuna imports over the past 10 years. The value of tuna imports from ASEAN countries ranged from US$44 to US$214 million. Thus, the increase in supplies from ASEAN countries has a great impact on Egyptian tuna imports.
Notably, while Egypt tended to reduce imports of tuna from Thailand and Indonesia, imports from other suppliers, including Vietnam, increased over the past 10 years. The reason was that the price of skipjack in Bangkok increased, thus, Egypt has to find other sources of competitive prices, including Vietnam.
In the context of the stagnant demand for canned tuna in two major markets, the US and the EU, Egypt has become an attractive market for Vietnamese canned tuna products.
(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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