In recent time, tuna exporters’ operation was unfavorable with low profit. In many current difficulties such as capital shortage, higher input cost, increased ocean freight cost, the lack of raw material is the most concern of local tuna processors. Many of them are not able to meet the demand of foreign customers due to lack of raw tuna for processing.
Processors sought to import raw tuna to keep their operation and to ensure jobs and stable income for labours. Some imported up to 80 percent of raw tuna from foreign countries for processing and exporting. Although raw tuna import price from foreign suppliers is 5 – 10 percent higher than that from domestic tuna price, the solution helps enterprises partly hold initiative in processing, remain their customers and importing markets. However, this is not a long-term solution because raw tuna import requires a large capital for building a cold storage to reserve and preserve.
Besides, raw tuna importers encounter barriers in administrative procedures and restrictive policy on raw tuna export of some main suppliers. Current import duty policy not favorable for tuna importers is also an obstacle. Higher testing fee and ocean freight are reducing Vietnam tuna’s competitiveness against its regional competitors.
To ease concern of raw tuna shortage, tuna processors need to tighten the link with fishermen to ensure stable raw fish supply. Competent authorities should support for fishermen through supplying necessary information such as evaluation of tuna fishing grounds, instruction of rational catching to preserve tuna stocks and promote cooperation in expanding tuna fishing ground.
In long-term, the government should develop modern fishing fleets with high capacity and raise fishermen’s fishing technique. In the first five months of 2012, Vietnam tuna exports achieved US$228 million, up 28.9 percent over 2011 in which exports of raw tuna (HS 03 code) reached US$151.8 million, accounting for almost 70 percent of total tuna exports and representing a 19.5 percent growth against 2011.
Exports of processed tuna (HS 16 code) touched US$76.2 million, making up a small market share in the structure of tuna products exported to markets but marking a sharp growth of 52.7 percent in its export value over that of Jan-May 2011.
(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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