Each year, the forum uses industry surveys and local knowledge to try and estimate global supplies of major species, and to forecast expectations for 2014.
Here is a brief rundown of the major species:
Atlantic Cod: Total global production will be around 1.36 million tons in 2014, which is only marginally changed from the 1.35 million tons expected for 2013. However, Atlantic cod volumes are being revised upward, with the 2013 figures up about 2% from their original projections last year. Cod will again be in very plentiful supply, and there is no expectation for much of a decline. Minor changes in volume in Norway and Russia will be made up by increases in Iceland.
Haddock: The haddock situation is worse than previously forecast. For 2014, the forum expects a decrease of 6.7% from this years landings of 298,000 tons, which in turn were 30% down from 2012 landings. In fact, all estimates of haddock supply have continued to be revised downward. The 2013 estimate is now 4% less than it was last year. Reports from fishing grounds have indicated slower than expected landings, meaning in some cases haddock was hard to find.
Alaska Pollock: Here supplies are higher than forecast last year, and are expected to marginally drop in 2014. Total landings are expected to reach 3.256 million tons. Alaskan production should be stable at 1.35 million, while Russian production will drop slightly to 1.6 million. However, last year expectations for 2013 were for total landings of 3.16 million, whereas this is now revised upward to 3.32 million tons, based on higher landings in Russia this year.
Pacific Cod: Expectations remain unchanged, with production forecast at 462,000 tons in 2014, which is almost exactly what was produced in 2013.
Pangasius: The Forum is revising its estimates on pangasius, and this year is only providing estimates from Vietnam. For 2013, Vietnamese production was estimated at 850,000 tons, and for 2014, it is estimated between 750,000 and 900,000 tons. American catfish production will remain unchanged at around 150,000 tons.
The forum has been unable to estimate tilapia production for several years, although their 2011 estimates are higher than the recently released FAO estimates for that year. Forum members estimated higher production in Egypt, the Philippines, and Thailand than was reported to FAO in 2011. Their estimates for China are fairly close to the FAO numbers - 1.05 million tons vs. 1.08 million tons, again for the year 2011.
Overall this presents a stable supply picture for whitefish, with little significant change in production of the major species, but no increase forecast either.
(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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