It can be affirmed that, until now, the Middle East is still an important export market of Vietnamese pangasius businesses. In 2017, the Middle East is the fifth largest pangasius export market (following China - Hong Kong; America, EU, ASEAN) with the total export value of 290.4 million US$.
By the end of October 2018, pangasius exports to the UAE market reached 44.56 million USD, witnessing an extremely remarkable increase of 135% compared to the same period last year. During this time, pangasius export value to this market increased continuously from 28-190% compared to the same period in 2017.
In terms of Egypt market, this is also a big export market of pangasius during many years. As of the end of October 2018, Pangasius export to Egypt reached 30.9 million US$, up by 26.4% over the same period last year. It is forecasted that from now until the end of the year, Pangasius export to Egypt market will continue to maintain a double-digit average growth rate.
So far, exporting pangasius to the Saudi Arabian market continues to be "closed". Due to stringent requirements for the approval of the "Halal Breeding Program" for animal products that requires for feeding material and production facilities to have Halal Certification, the process of exporting pangasius to this market has yet been cleared so far.
It can be said that the Middle East is still considered as one of the potential markets of Vietnamese seafood. In addition, the Middle East region is also a place to concentrate and transfer aquatic products to other markets in North Africa and West Asia. At the same time, the Middle East is an important and strategic market of Vietnam. Besides, the standards and technical requirements of the market are not as strict as the US, EU or Japan markets.
Therefore, this is considered a potential area of many markets for white fish in Asia.
Recently, as pangasius prices are rising and demand is stable in the Middle East, Indonesia has launched a pangasius brand with the goal of meeting the increasing demand for farmed fish in these markets. The United Arab Emirates was chosen to launch the brand based on the region's high potential as a gateway to other Middle Eastern markets. Indonesia has seen increasing demand from Middle Eastern countries in recent years, thanks to the tourism industry and the food service industry during Hajj and Umrah activities.
Middle East is a potential market with increase in the average import price in 2018. If the Saudi Arabian market is reopened in 2019, there will be more opportunities for pangasius export enterprises to increase export turnover to this area.
(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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