According to the Ministry’s Import-Export Department, Australia is among the largest buyers of farm and aquatic products of Vietnam, making an annual average import value of 450 million USD in 2011 – 2016.
The MoIT has actively worked with the Ministry of Agriculture and Rural Development (MARD) to address technical barriers to bring shrimps and fresh fruits to Australia.
After a long time of negotiations, Vietnam’s lychees and mangoes were first shipped to Australia in 2015 and 2016, respectively.
The MoIT and the MARD have been working hard for the export of other fresh fruits, such as dragon fruits, longan, star apple and rambutan to the market.
They have made tireless efforts to win Australia’s acceptance of Vietnam’s applications for importing raw shrimps that are caught naturally in Australia for processing, and then re-exported to Australia.
The two ministries are working together in urging the Australian Department of Agriculture and Water Resources to accelerate the recognition of Vietnam’s shrimp safety from white sport disease and the quality safety control system to allow Vietnam to ship its fresh whole shrimps to the market as soon as possible.
They have also provided support for the Vietnam – Australia Group and Minh Phu Company to soon sell their high-quality shrimp products to the Australian market.
According to Vietnam’s Trade Office in Australia, Australia is the 7th largest import market of Vietnamese shrimps, which consumes 3.6 percent of the country’s total shrimp export volume.
In 2016, Vietnam earned 114.6 million USD from shipping shrimps to Australia, 78 percent of which was processed shrimps.
In the past five years, Vietnam has been the largest supplier of processed shrimps for Australia. Despite the market’s strict requirements, it is considered a promising market for Vietnamese firms due to high and increasing demand. Meanwhile, Australia tends to narrow down its import markets and focus on only major ones, which is also an advantage for Vietnam.
Source: VNA
(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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