The economic instability and the war between Israel and the Hamas Islamic in 2023 have affected seafood export activities in general and tuna in particular to this market. Vietnam's tuna exports to the Middle East have continuously decreased every month since the beginning of the year. And only until November 2023 did tuna exports to this market tend to recover.
Vietnam’s tuna exports to some markets in the Middle East region recorded an increase over the same period in 2022, such as: Israel (up 37%), Lebanon (up 17%), UAE (up 23%), Turkey Ky (up 73%). Meanwhile, exports to some markets decreased sharply, such as: Egypt (down 47%), Saudi Arabia (down 78%)...
Currently, the Middle East is Vietnam's 4th largest export market of Vietnam tuna after the US, EU and CPTPP, accounting for nearly 10% of total tuna export turnover. In recent years, facing many challenges from main consumption markets, Vietnamese tuna enterprises have turned to smaller but potential markets such as the Middle East to diversify export markets.
However, this market area also has high requirements for imported food products such as the requirement of Halal certification. Suppliers are required to process and package appropriately to meet this standard.
According to recent information from the Vietnam Trade Office in Saudi Arabia, the Saudi Food and Drug Administration (SFDA) has sent a document to the leaders of the Federation of Chambers of Commerce, Chamber of Commerce Riyadh, Jeddah, Dammam about some food products exported to Saudi Arabia with Halal certificates but the issuing agencies of these certificates are not on the list approved or authorized by SFDA. Therefore, seafood export enterprises to the Saudi Arabian market need to comply with regulations on Halal certification and approach the Halal certificates of the unit authorized by SFDA to avoid being detained or returned.
(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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Chịu trách nhiệm: Ông Nguyễn Hoài Nam - Phó Tổng thư ký Hiệp hội
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