Abalone, frozen oysters, flounder, and other Korean delicacies are imported into Vietnam, while Japan imports into Vietnam some products including scallops, amberjack….
Imported frozen seafood from Korea and Japan is on the rise in Vietnam. These products are not only in high demand at Korean restaurants and eateries in Vietnam but are also gaining popularity among Vietnamese consumers due to their competitive prices compared to domestic products.
Mr. Kim Ki Hoon, a representative of the Ministry of Oceans and Fisheries of Korea, stated that Vietnam is the fourth largest trading partner of Korean food products and a close friend of Korea in terms of economy, culture, and bilateral relations.
"The demand for products like seaweed and canned tuna among Vietnamese consumers is increasing, similar to the Korean fondness for Vietnamese pho and bun cha," Mr. Kim Ki Hoon said.
The Korea Seafood Festival was put on by the Ministry of Oceans and Fisheries of Korea's Export Promotion Agency for Processed Products, AT Center, in association with the MM Mega Market Vietnam supermarket chain, to meet the rising demand for Korean cuisine in Vietnam. MM Mega Market supermarkets will display and provide a large selection of seafood and seafood-processed items that are directly imported from Korea for 10%–20% off till the end of June 2024.
Mr. Nguyen Duc Toan, Director of Business Development at MM Mega Market, stated that the demand for Korean seafood is on the rise. The Korea Seafood Festival presents an opportunity for the supermarket to further promote Korean specialties to domestic consumers.
Meanwhile, Vietnam also represents a promising market for Japanese seafood as the number of Japanese restaurants continues to grow. Japanese seafood has gained market acceptance for its quality, freshness, and suitability for raw consumption.
According to statistics from the General Department of Customs, in 2023, Vietnam imported USD 170 million worth of seafood from Japan, equivalent to the figure in 2022.
As per the Ministry of Agriculture, Forestry, and Fisheries of Japan (MAFF), the Japanese government is implementing initiatives to promote the allure of Japanese seafood domestically and internationally, while diversifying export markets.
Mr. Toru Yoshimatsu, a representative of MAFF, stated that Vietnam has a long history of seafood processing factories. As a result, Japanese businesses are choosing Vietnam as a processing hub for exports to the United States, ASEAN countries, and beyond. Among seafood products, scallops, yellowtail and red sea bream are Japan's primary export items.
In addition to the discounted imported products, domestic items are also being promoted by supermarkets through various campaigns to stimulate demand and enhance the competitiveness of Vietnamese products.
(seafood.vasep .com.vn) The return of Donald Trump to the White House for a second term will bring significant impacts on Vietnam, particularly its pangasius export sector. Trump's economic policies, such as raising import tariffs, reducing corporate income taxes, and attracting foreign direct investment (FDI) back to the US, are expected to directly influence various industries in Vietnam.
(seafood.vasep.com.vn) The UAE ranked 16th among importers of Vietnamese shrimp from 2018 to 2022, accounting for approximately 0.5% of Vietnam's total shrimp export value. Annually, Vietnam exported around US$20 million worth of shrimp to this market.
(seafood.vasep.com.vn) The company also announced that its farms are well-prepared and will begin stocking in mid-November when the weather conditions are favorable.
(seafood.vasep.com.vn) To maximize natural advantages and increase the value of local aquatic products, Ca Mau province is promoting the ecological shrimp farming model under mangrove forests. This model not only brings high profits to people thanks to businesses committing to purchasing products at prices 10-20% higher than the market price but also aims for sustainable development and environmental friendliness.
(seafood.vasep.com.vn) The Comprehensive Economic Partnership Agreement (CEPA) between Vietnam and the United Arab Emirates (UAE) was signed after just over a year of negotiations. With high demand for premium seafood in the UAE, particularly for shrimp and tuna products, Vietnam’s tuna industry is expected to gain increased export opportunities and higher product value thanks to the preferential terms of the CEPA.
(seafood.vasep.com.vn) In October 2024, seafood exports from Vietnam are estimated to exceed $1 billion, marking a 28% increase compared to the same period last year. This achievement signifies the first return to the $1 billion milestone in 27 months, since June 2022, providing a significant boost for Vietnamese seafood enterprises.
(seafood.vasep.com.vn) Under the theme "Dong Thap Pangasius: Green Journey - Green Value," the Dong Thap Pangasius Festival 2024 will take place over two days, November 16th and 17th, at Vo Nguyen Giap Square in Hong Ngu City.
(seafood.vasep.com.vn) The Department of Agriculture and Rural Development of Kien Giang has announced a plan to stabilize the biosafety rice-shrimp production area at 117,340 hectares by 2030.
(seafood.vasep.com.vn) According to the Department of Fisheries in Ca Mau, the total aquatic product output in the region is estimated at 536,140 tons as of October 17, achieving 82.23% of the annual plan and marking a 1.74% increase compared to the same period last year. Within this total, shrimp production stands at 208,495 tons, reaching 82.41% of the planned target and showing a 2.23% increase year-over-year.
(seafood.vasep.com.vn) According to data from Vietnam Customs, pangasius exports to Iraq have surged significantly in the first nine months of 2024, marking the highest levels seen in three years. This upward trend has positioned Iraq as a key market for Vietnamese pangasius, even surpassing Iran, traditionally regarded as a gateway for trade between Vietnam and the Middle East.
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