While pole-and-line fishing is widely practiced in the country, in general 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 and hand-line caught tuna ends up being sold as purse seine.
At the country’s recent tuna business forum, the commercial fishing and processing sectors as well as international tuna brands, retailers, government officials and other stakeholders agreed that the sustainable development of the fishery should be prioritized.
At the forum, representatives from the Indonesian ministries said they intend to initiate a number of projects that will support disadvantaged coastal communities that depend on the tuna fishery.
In line with this move, the Indonesian government will look to align itself closer to the regional fisheries management organization in the Western and Central Pacific Fisheries Commission (WCPFC). The country is currently a co-operating non-member in the WCPFC and hopes to become a full member by the end of this year.
There is a genuine, deep-rooted desire in Indonesia to move forward with sustainability issues, which was demonstrated by the large number of delegates at the forum and the discussions that took place,” said John Burton, IPNLF co-founder. “There was significant representation from industry, international buyers and NGOs and we were all delighted to learn from the Indonesian ministries that the government wants to ensure the pole-and-line and hand-line fishery is sustainably managed and carefully progressed in the future. There is no doubt this approach will be of invaluable long-term benefit to many of the country’s disadvantaged coastal communities.”
(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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