Indonesia has always been a pole-and-line tuna producing country, but interest in this traditional catching method decreased over the last decade in favor of purse seine fishing, as larger volumes of fish are caught using the latter method.
While pole-and-line fishing is still widely practiced in Indonesia, the country’s fishing industry does not distinguish between pole-and-line and purse seine tuna. As a result, it is believed a large proportion of pole-and-line tuna ends up being sold as purse seine.
However, the growing international demand for pole-and-line tuna could turn things around for Indonesia’s fishery, coastal communities and the country’s overall economy.
The ‘Pole and Line and Handline Tuna Development in Eastern Indonesia Business Forum’, being held Sept. 3 and 4, is organized by Indonesia’s Ministry for Regional Development (KPDT), the Ministry of Fisheries and the International Pole & Line Foundation (IPNLF).
The commercial fishing industry along with tuna brands and retailers have been invited to join this important meeting, which will also be attended by Indonesia’s Ministry of Industry, Ministry of Trade, Ministry of Economics, Ministry of Cooperatives and SMEs, Ministry of Public Works and the relevant port authorities.
“Pole-and-line fishing is the most environmentally and socially desirable method of catching tuna," said Rusnadi Padjung, deputy assistant for Investment, KPDT. "It requires minimal investment, which is appropriate for Indonesia’s poor coastal communities, and it requires more fishermen than other catching methods.”
Fisheries generate between 4 and 5 percent of Indonesia’s gross domestic product and provide employment for 6 to 7 percent of the national workforce. Capture fisheries account for approximately half of these figures.
(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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