The circular dated 29 October 2013, which takes full effect from January 2014, targets a 25 per cent annual reduction in fish importation into the country.
In an effort to clarify the extent of the measure, Minister of Agriculture, Dr Akinwumi Adesina explained, "We hereby emphasised that reports of a total ban on fish import is not true and did not originate from the minister, who has emphasised that, at no time did he announce a total ban on the importation of frozen fish into the country," This Day reports.
This measure aims at fighting the large increase of fish imports by various companies operating in
The Federal Government had observed the escalating foreign exchange demand for fish imports since 2005.
“A responsible minister will not stand idly and watch Nigeria’s fisheries sub-sector plunge down the drain while financing other nations’ economies through indiscriminate importation, when the home economy suffers further devastation,” Special Adviser to the Minister on Media, Dr Olukayode Oyeleye, said in a statement, The Nigerian Tribune informs.
The rising imports gave way to malpractices including over-invoicing, foreign exchange capital flight, and ghost import.
Adesina added that the new policy being introduced aims at engaging fish importers in fish farming enterprises like their counterparts in other parts of the world in order to increase local production and reduce fish import.
In this context, the minister also announced the distribution of subsidized fishing equipment as part of a project to support the artisanal sector and aquaculture, to be implemented in the coastal states around the country.
(seafood.vasep.com.vn) Vietnam’s shrimp exports reached $394 million in October 2024, up 24%. In the first ten months of this year, shrimp exports brought in $3.2 billion, up 13% compared to the same period last year. Exports to all major markets recorded double-digit growth in October.
International Development and Investment Corporation (IDI), a key member of the Sao Mai Group, has consistently ranked among the largest seafood producers and exporters in Vietnam.
(seafood.vasep.com.vn) In recent years, the US has consistently been Vietnam’s largest seafood export market. Over the past five years, seafood export turnover to the US has ranged from 1.5 billion USD to 2.1 billion USD anually. Despite facing strict protective policies such as anti-dumping and countervailing duties, U.S. market demand remains high, and the quality of Vietnamese seafood continues to improve, helping to maintain and expand its position in this market.
(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.
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