Sustained demand for seafood products is boosting aquaculture production worldwide and pushing seafood prices higher, said a new report from United Nations Food and Agriculture Organization (FAO).
Overall production is expected to grow by at least 2 percent in 2012, supported by a strong increase in aquaculture output.
Trade is expected to remain brisk with 2012 export values rising again, according to the report, authored by Audun Lem, senior fisheries officer.
“In the aftermath of the Brussels seafood show, the market for fish and fishery products appears more influenced by supply variations for the individual species and products, rather than any clear weakening of demand,” said the report.
Despite slow economic growth and reduced purchasing power in many of the traditional key import markets, such as Spain, Italy and France, demand for seafood is strong overall, it said.
“The FAO Fish Price Index shows current quotations close to all-time highs, especially for captured species,” said the report.
“Rising energy and feed costs are likely to keep fish prices high during the year.”
At the same time, prices are important drivers of demand as shown by the salmon market where added farmed production and lower prices in 2012 compared to 2011 are boosting consumption in all salmon markets, it said.
The FAO is forecasting total production of 157.3 million metric tons in 2012, up 2.1 percent on 2011. However wild fisheries are set to decline by 0.4 percent to 90 million metric tons, with aquaculture production rising 5.8 percent to 67.30 million metric tons.
In addition, FAO said world shrimp production fell by 20 percent — 2.5 million metric tons — in 2011 because of supply shortfalls in Asia. However, with the new Asian 2012 season starting in April and May, supply is forecast to recover and prices to soften and the market should stay firm.
Tuna and groundfish supplies are also expected to increase, with demand for the former, including skipjack and yellowfin, declining due to high prices. Supplies of farmed whitefish, including pangasius and tilapia are not expected to see substantial growth in the near future. Cod prices are expected to climb somewhat, while Alaska pollock prices will continue to decline.
(seafood.vasep.com.vn) According to a report by the General Statistics Office, the estimated pangasius output for January 2025 reached 102.5 thousand tons, representing a 6.0% increase compared to the corresponding period of the preceding year. This surge is attributed to the rise in pangasius material prices within the Mekong Delta, which has incentivized aquaculture farmers to expand their stocking activities. Concurrently, this price increase has facilitated processing enterprises to intensify procurement efforts to meet export demands during the early part of the year.
(seafood.vasep.com.vn) Between 2015 and 2024, Vietnamese pangasius exporting enterprises have undergone notable transformations in rankings and experienced fluctuations in developmental strategies, competitive intensity, and business efficacy. This dynamic is clearly illustrated through shifts in export turnover and the proportional contribution to the national pangasius export volume among the Top 5 enterprises.
(seafood.vasep.com.vn) The outlook for Vietnam’s seafood exports remains positive, with a strong focus on maintaining growth in key markets like China and the U.S., while diversifying into new regions. As global trade policies continue to evolve, adaptability and strategic planning will be key to navigating the challenges ahead.
(seafood.vasep.com.vn) Thanks to improved pangasius prices and higher production, Vĩnh Hoàn's after-tax profit in Q4 2024 reached VND 440 billion, a 4.8-fold increase compared to the same period last year.
(seafood.vasep.com.vn) According to data from Vietnam’s Customs, in Q4 2024, Vietnam’s pangasius exports to China & Hong Kong reached USD 163 million, a 17% increase compared to the same period in 2023, with consistent growth across all months. The total value of pangasius exports to China & Hong Kong for 2024 reached USD 581 million, a 1% increase over the previous year.
Vietnam’s seafood exports are projected to maintain strong growth this year, potentially reaching 11 billion USD.
(seafood.vasep.com.vn) In the final quarter of 2024, Vietnam’s surimi and fish cake exports showed consistent growth over the last three months. For the entire year 2024, exports of these products reached USD 298 million, down 2% compared to 2023. However, the final quarter saw more promising signs for the surimi and fish cake export sector, with some markets experiencing notable growth, such as Thailand, China, and Taiwan. Particularly, exports to Taiwan, which had seen continuous declines in the previous two quarters, surged by 301% in this quarter.
(seafood.vasep.com.vn) Another year of pride for Vietnam's pangasius exports has concluded, reaching over USD 2 billion and contributing 20% to Vietnam's total seafood export turnover.
Vietnam maintained its position as the fifth-largest seafood exporter to Singapore for 12 consecutive months, surpassing Japan for the first time in 2024, amid the intensifying competition in this market.
(seafood.vasep.com.vn) Despite facing numerous challenges in the second half of the year, Vietnam's canned tuna exports concluded 2024 with a 17% increase compared to 2023, reaching USD 299 million. To maintain this growth momentum in 2025, the canned tuna production and export sector requires coordinated efforts from all stakeholders.
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