Vietnam, along with three other Southeast Asian countries, Thailand, Indonesia, and the Philippines, were the largest suppliers of canned tuna for the Japanese market in the first 5 months of this year. Compared to other countries in the region, Vietnam has the highest export growth rate of processed and canned tuna products in the first 5 months of 2020. However, Vietnam's market share in the Japanese market was modest compared to the other three countries.
Moreover, after growing well in the first 5 months of 2020, Vietnam's tuna exports to Japan tended to decrease. According to statistics of Vietnam Customs, the value of Vietnam's tuna exports to Japan in June diminished by 39.4%, reaching more than US$1.7 million.
In the first half of 2020, exports of other processed tuna from Vietnam to Japan tend to increase, while exports of fresh, live, frozen and canned tuna have decreased. This has led to an increase in the proportion of exports of processed and canned tuna products from 61% in the second quarter of 2019 to nearly 77% in the same period in 2020. Notably, the export of other processed tuna products, especially frozen steamed tuna loin products (HS16041490) continued to increase over the same period in 2019. Compared to the same period in 2019, the average export price of processed tuna to Japan fell, while the prices of frozen tuna meat/fillets products tend to go up.
Currently, the Covid-19 epidemic in Japan has not yet been controlled, which is expected to continue affecting Japan's imports of tuna. Japanese tuna imports are expected to continue to decline in the coming months.
(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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