The quantity has gone up by 6.02 %, while the value in rupee terms jumped by 28.65 % over the previous year. In US dollars, the value showed a growth of 22.81 %. The unit value increased to $4.07 from $3.51 in the previous year. In 2010-11 seafood exports stood at 813,091 tonnes valued at Rs 12,901.47 crore.
Marine Products Export Development Authority (MPEDA) chairman Leena Nair said the figures must be viewed in the light of continuing recession in international markets, debt crisis in EU economies, continuing anti-dumping duty in the US, sluggish growth in the US economy and the political instability in the Arab world.
Frozen shrimp was the major export value item accounting for 49.63% of the total dollar earnings. In quantity terms shrimp exports increased by nearly 25 %. The share of vannamei shrimp in the total shrimp exports has shot up from 14% to 35% while the share of black tiger shrimp has declined from 82% to 61%.
South East Asia has become the largest buyer of Indian marine products with a share of 40 % in volume and 25 % in value in dollars. European Union came second with a share of 23% followed by the US with 18% in volumes. Exports to China recorded a fall of 47 % in quantity and 40% in value in dollar terms.
Leena Nair said MPEDA has targeted $4.5 billion worth exports in the current fiscal. Rising production of vannamei shrimp and better infrastructure facilities for production of value added items will help achieve this target, she said.
(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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