Exports of vannamei almost doubled in quantity compared with the first three quarters of the last fiscal – to 134,000 tons from 69,000 tons.
In dollar terms, the jump was spectacular: $1,474 million from $540 million. This is an increase of 173 per cent over the previous fiscal’s first three quarters.
A little over a half of vannamei exports was to the US, while 16 per cent was to South-East Asian countries.
Piggybacking on the splendid performance of vannamei and other frozen shrimps, the seafood sector is now scaling up its expectation on export earnings beyond the $4.33-billion target for the entire fiscal.
According to the Marine Products Export Promotion Authority, export earnings have already topped $3.66 billion.
Vannamei excels
Seafood exporters said out that vannamei farming was fast expanding in Andhra Pradesh, the nerve-centre of shrimp culture. Vannamei production was also gaining in other States on the East Coast – Tamil Nadu, Odisha and West Bengal – as well as in Gujarat. Farmers’ initiative, rather than institutional or Government support, was driving the vannamei farming, they said.
Huge demand from the US and South-East Asia, remunerative prices and devastation of vast stretches of shrimp farms in leading cultured-shrimp producing countries is encouraging new farmers in the States on the East Coast to venture into vannamei. “It’s a case of success driving further success,” one exporter commented.
MPEDA said out that frozen shrimp made up a third of the seafood exports, while in dollar terms, the share was as high as 65 percent. Shrimp export in the three quarters was 229,000 tons bringing in $2,396 million. The percentage of increase over the same period in the previous year was 27.5, while in dollar terms the jump was 70.5 per cent.
Of the total exports of shrimp, vannamei alone constituted 81 per cent of in terms of quantity.
The share of fish in the export basket was 30 per cent, mainly cuttle fish and squid. According to MPEDA , 692,000 tons of marine products were exported during April-December 2013.
The rupee value of the exports was ₹21,829 crore. In terms of quantity, the exports had marginally fallen, from 7.21 lt in the corresponding period previously; but the rupee value was a big rise from ₹14,811 crore.
(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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