In July, exports of all key products showed strong growth. Specifically, shrimp exports increased by 11%, which is also the highest growth rate in the first 7 months of the year. Shrimp exports to China and the EU increased by 24% and 32%, while exports to the US increased by 9%, to Japan increased by 4%, and South Korea decreased by 21%.
As of the end of July 2024, cumulative shrimp exports reached nearly $2 billion, up 7% compared to the same period last year. White-leg shrimp sales reached $1.45 billion, up 4%, while black tiger shrimp reached $246 million, down 10%. Lobster exports alone increased by nearly 3 times, reaching $145 million.
Pangasius exports showed more positive signs with a 23% increase in July. Exports to all major markets grew in double digits, from 20-40%, except for the EU market which grew slightly by 5%. The cumulative pangasius exports in the first 7 months of 2024 reached nearly $1.09 billion, up 7.7% compared to the same period last year. China remains the number one target market for Vietnamese pangasius, with a value of $317 million, down 2.3% compared to last year. This market mainly consumes pangasius of large size > 1.2 kg/pc in the form of either whole fish or fillet products. In addition, this is also a potential market for the by-product which is pangasius swim bladders. In the first 7 months of this year, the country's pangasius maw exports reached approximately $50 million, of which $40 million was exported to the Chinese market, accounting for 80%.
After continuously growing in double digits, from 16 to 32%, tuna export growths in July have slowed down, with only a 9% increase m-o-m. In the first 7 months of the year, the cumulative tuna exports reached $555 million, up 21% compared to the same period last year. The two main tuna export products are canned/pouched tuna and frozen tuna loin/fillet (also the raw material for canned tuna production).
In addition to tuna, other seafood products like cephalopods and other marine fish are also experiencing a shortage of raw materials for export. Exports of other marine fish species (excluding tuna) have also decreased by more than 4% in the first 7 months of this year. Meanwhile, cephalopod exports are only on par with the same period in 2023, reaching around $351 million.
The top 4 main markets showing clear signs of a demand recovery in July are: China & Hong Kong up 30%, the US up 14%, Japan up 11%, and the EU up 14%. Cumulatively in the first 7 months of the year, seafood exports to the US and China-Hong Kong both increased by 10% and accounted for an equivalent share, making up nearly 18% of Vietnam's total seafood exports, reaching over $930 million. Exports to the EU also increased by 10%, reaching over $600 million. Only exports to South Korea saw a slight 1% increase, reaching $426 million.
Looking at the frozen product segment, the US and EU will be the two expected markets in the second half of the year, given positive signs like economic recovery, declining inflation, and lower interest rates that could boost demand in these markets. Meanwhile, frozen exports to China have not yet seen a breakthrough, with relatively low prices. In contrast, China is the number one destination for Vietnam's fresh and live seafood products, serving the restaurant, hotel, and tourism segments. Therefore, Vietnam's fresh and live products such as lobster, crab, clam, and snail will continue to attract Chinese customers in the coming time.
(seafood.vasep.com.vn) The first two months of 2025 recorded positive signals in Vietnam's seafood export activities, with total revenue reaching USD 1.423 billion, growing 18.2% compared to the same period in 2024. In February 2025, the export value hit USD 655.197 million, showing an impressive growth of 42.6%.
(seafood.vasep.com.vn) Kiên Giang Province, home to over 13,000 fishing vessels, is intensifying efforts to combat illegal, unreported, and unregulated (IUU) fishing. Faced with challenges from offshore fishing, many vessels have shifted to near-shore fishing using destructive methods, severely damaging marine ecosystems.
(seafood.vasep.com.vn) Vinh Hoan Corporation (HOSE: VHC) continues to solidify its position as the leader in Vietnam's pangasius export industry with impressive business results in 2024 and positive prospects for 2025. Factors supporting growth, such as recovering demand, improved selling prices, and favorable international trade policies, make Vinh Hoan one of the top stocks to watch in investment portfolios for 2025.
Amid global trade uncertainties, Việt Nam is prioritising compliance with international market requirements to maintain and expand its agricultural exports.
On February 26, 2025, VinFast and the Vietnam Association of Seafood Exporters and Producers (VASEP) signed a comprehensive cooperation agreement to strongly promote green transformation goals. The collaboration between the two parties will contribute to the realization of the country’s sustainable development goals and help elevate the Vietnamese brand on the international market.
(seafood.vasep.com.vn) In 2024, the total brackish water shrimp farming area in Ca Mau reached 278,600 hectares, with a shrimp output of 242,000 tons. This output achieved 99.59% of the set target and marked a 4.57% increase compared to the same period last year. The average shrimp yield attained 869 kilograms per hectare per year, representing a 38 kilograms per hectare per year increase compared to 2023. Shrimp export turnover reached USD 1.12 billion, positioning Ca Mau amongst the nation's leading localities in this sector.
(seafood.vasep.com.vn) In 2024, Ben Tre province expanded its high-technology application in aquaculture by an additional 523 hectares, surpassing the planned target of 500 hectares and achieving a fulfillment rate of 104.6%. To date, the province has converted 3,633 hectares to high-tech aquaculture out of the 4,000-hectare goal, representing 90.82% progress towards the 2021-2025 phase plan. This sector yields an average productivity of 60-70 tons per hectare, with a total output reaching 221,282 tons. The average profit margin ranges from VND 700 to 800 million per farming season, delivering substantial economic benefits to the local populace.
(seafood.vasep.com.vn) In 2025 In 2025, Vietnam's brackish water shrimp industry will continue to grow sustainably, enhancing value-added products with strong contributions from local authorities and the business community.
(seafood.vasep.com.vn) In January 2025, the country's total seafood output was estimated at 594,100 tons, a 0.7% increase compared to the same period last year. Specifically, fish production reached 443,400 tons, up 0.7%; shrimp output was 56,300 tons, up 3.1%; and other seafood products totaled 94,400 tons, down 0.9%.
(seafood.vasep.com.vn) The industrial pangasius production in Vinh Long province in 2024 reached 95,100 tons, a 4% decrease compared to 2023. Despite the decline in production, positive trends in the final months of the year offer hope for improving economic efficiency in the near future. Additionally, the increase in the area for industrial pangasius farming and the maintenance of overall aquaculture area demonstrate the province’s efforts to sustain its production activities.
VASEP - HIỆP HỘI CHẾ BIẾN VÀ XUẤT KHẨU THỦY SẢN VIỆT NAM
Chịu trách nhiệm: Ông Nguyễn Hoài Nam - Phó Tổng thư ký Hiệp hội
Đơn vị vận hành trang tin điện tử: Trung tâm VASEP.PRO
Trưởng Ban Biên tập: Bà Phùng Thị Kim Thu
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