Deepening Euro-area recession and rising consumer prices coupled with the austerity measures in some countries have affected the EU shrimp market.
EU imports from main sources saw significant fall in 2012. Ecuador – the largest supplier – got 13.9 percent decrease in export value from US$631.4 million in 2011 to US$543.5 million in 2012. Supplies from India and Thailand to this region also fell 11.2 percent and 35.4 percent respectively.
In 2012, Vietnam ranked seventh among main shrimp suppliers to the EU with total value of US$220 million, down 41.9 percent on that of 2011.
EU shrimp market was predicted to show no sign of improvement during the first half of 2013, as the region has been suffering impacts of economic recession and declining supplies from some main producing countries like Thailand due to shrimp disease.
According to Globefish report, after being quiet for the past few months, European shrimp market began to show signs of improvement since late February 2013. Imports from Asia is increasing.
Referring to statistics from International Trade Centre (ITC), shrimp imports into the EU totaled US$883 million between January and March 2013, down 8.4 percent from the corresponding period of 2012.
However, EU considerably increased imports from some Asian countries. In the first three months of 2013, purchase from India had a worth of US$103.7 million, up 6.59 percent from US$96.89 million in the same time of 2012. Shrimps from Bangladesh rose 7.69 percent from US$59 million to US$63.9 million.
Other shrimp suppliers such as Ecuador, Thailand and Vietnam continued seeing drop of 14.1percent, 22.7 percent and 15.1 percent respectively.
With positive growth in the first three months of 2013, India has passed Ecuador to be the leading supplier to the EU.
India and Bangladesh keep increasing exports to the region as they have more advantages than other suppliers.
Bangladesh shrimp exporters to the EU have been beneficiaries to zero-percent duty rate as the country gained EU’s Generalized System of Preferences (GSP). Whiteleg shrimp harvests of India has been increased in the recent years, helping it to broaden shares in main importing markets like the EU and the U.S. In January – March 2013, U.S. shrimp imports from India increased 69.2 percent over the same period of 2012.
Vietnam and Thailand will find hard to boost shrimp exports to the EU in 2013 when their shrimp production are still being affected by shrimp disease.
(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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