Since the early year, cephalopod exports to Japan were smooth thank to high demand and rising import price compared to that of other main importers. However, cephalopod exporters faced shortage of raw mat
erial for processing two main export items: frozen, dry, salted or in brine, smoked octopus (HS 030759 code) and frozen, dry, salted or in brine, smoked squid (HS 030749 code). The domestic supply of raw material only meets 20-30 percent of capacity of local processing facilities.
Processors must boost to import raw materials from Myanmar, Thailand, Indonesia to outsource, process and export. Through June 2011, Vietnam cephalopod exports to Japan reached US$46.4 million, d
own nearly 11 percent in volume and 1 percent in value over 2010 and Japan was the third largest importing market of Vietnam cephalopod (after South Korea and EU). In 2011, with the cephalopod import value of US$130 million, Japan outreached to the second rank after South Korea.
Vietnam cephalopod exporters make efforts to ensure the quality of products exported to Japan. In May 2012, with 60 percent year-on-year growth in the cephalopod import value, Japan outstripped to take the lead among largest importers of Vietnam cephalopod. In the next quarter, cephalopod exports are forecasted to grow drastically thank to more attractive and stable export price over that of other markets.
(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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