Market issues such as large inventory, low demand, and falling prices have strongly affected the shrimp and pangasius industries, especially in key markets such as the US and EU.
Therefore, pangasius exports fell the most in the first 6 months, followed by shrimp. The seafood industry continues to face a shortage of raw materials, high input costs, and most importantly, the IUU yellow card is making the procedures for certifying wild- caught seafood products to go to the EU market more difficult in 2023.
Seafood exports, including to the once-promising Chinese market, have sharply declined. Persistently sluggish post-Covid economies, ongoing wars, and inflation have cast a shadow on recovery, maintaining their hold on food consumption trends, including seafood.
In this difficult situation, many seafood enterprises have adjusted their product structures and strategies
In this difficult situation, many seafood enterprises have adjusted their product structures and strategies. Therefore, although many enterprises experienced a decrease in sales compared to the same period last year, there were still enterprises that achieved positive growth in export turnover in the first half of this year thanks to maintaining labor, utilizing capacity, focusing on value-added goods and processing for export. These enterprises will be the driving force to recover export sales for the industry in the second half of 2023.
Can Vietnam seafood exports reach the expected target of US$10 billion in 2023? By the end of July, seafood exports had only earned nearly US$5 billion. Can it break through in the last 5 months of the year?
To gain deeper insights into product structure and export markets, the business situation of seafood enterprises in recent years, assess the resilience of consumption markets, the competitiveness of Vietnam's seafood products in 2023, opportunities and challenges in the coming time; we extend an invitation to businesses and readers to register for the Q2/2022 Report on Vietnam's Seafood Exports.
Compiled by Thuy Linh
(seafood.vasep.com.vn) On the evening of December 24, 2024, in Hanoi, the Central Youth Union, Viet nam Youth Federation and the Vietnam Young Entrepreneurs Association held the Vietnam Golden Star Award Ceremony 2024, with the theme "Reaching Vietnam", honoring 200 outstanding enterprises. Deputy Prime Minister Nguyen Hoa Binh attended.
(seafood.vasep.com.vn) In the first ten months of 2024, 448 Vietnamese companies were involved in exporting pangasius to international markets. Vinh Hoan remains the top exporter, holding a 14% share of Vietnam's total pangasius export value.
(seafood.vasep.com.vn) Vietnam's seafood sector is making impressive strides as it nears the end of the year. Aquaculture has maintained steady growth, while fishing activities have recovered thanks to favorable weather conditions.
(seafood.vasep.com.vn) To ensure sustainable shrimp farming and environmental protection, Soc Trang Province emphasizes raising awareness and improving the capacity of shrimp farmers through various forms of communication and by developing and replicating effective models.
(seafood.vasep.com.vn) To achieve the goal of making the province a national hub for high-quality shrimp post-larvae production and producing 50 billion shrimp post-larvae by 2025, Ninh Thuan has focused on implementing a comprehensive set of measures.
(seafood.vasep.com.vn) The seafood processing company Kyokuyo has just opened a seafood processing plant in Vietnam to reduce its reliance on China. In Japan, Kyokuyo ranks as the third-largest seafood producer, following Maruha Nichiro and Nissui.
(seafood.vasep.com.vn) Vietnam's total fishery production in the first 10 months of 2024 is estimated at 7,889.8 thousand tons, a 2.5% increase compared to the same period last year. Aquaculture contributed approximately 4,612.5 thousand tons, while capture fisheries accounted for 3,277.3 thousand tons.
(seafood.vasep.com.vn) Ms. To Thi Tuong Lan, Deputy Secretary General of the Vietnam Association of Seafood Exporters and Producers (VASEP), forecasts that pangasius export turnover could reach the target of USD2 billion in 2024. However, the industry will still face numerous challenges in the coming year.
(seafood.vasep.com.vn) Vinh Hoan Corporation has recently announced its business results for October, reporting over VND 1,200 billion in revenue, a 60% increase compared to the same period last year.
(seafood.vasep.com.vn) According to statistics from Vietnam Customs, Vietnam's tuna exports in October reached nearly $93 million, marking a 22% increase compared to the same period in 2023. In the first ten months of 2024, the total export value exceeded $821 million, up 18% compared to the same period last year.
VASEP - HIỆP HỘI CHẾ BIẾN VÀ XUẤT KHẨU THỦY SẢN VIỆT NAM
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