Many opportunities
According to Vietnam Association of Seafood Exporters and Producers (VASEP), in 2013, Vietnamese seafood products are available in 156 countries and territories to bring back total value of US$6.8 billion. In which, the top ten importers represented 85 percent.
Despite many difficulties in 2013, Vietnamese seafood products saw growth of 10.1 percent against the previous year. The three main markets - including the U.S., Japan and the EU - all reported an import value of over US$1 billion. In 2014, Vietnam is expected to show more signs of a future export growth.
Japan is gradually an open market for seafood products from Vietnam as Japanese authorities increased the allowable Ethoxyquin content level in imported shrimp from Vietnam to 0.2ppm, compared to the previous low level of 0.01ppm. In addition, Vietnam hopes to boost exports to new potential markets like China and Hong Kong in 2014. In 2013, shipments to these two destinations had a worth of US$650 million, up 55 percent from 2012.
Furthermore, Vietnam is setting up a distribution center for pangasius products exported to the EU in the port of Zeebrugge in Belgium. Exports of Vietnamese pangasius to this huge market will see more opportunities to reach growth in both volume and value thanks to the center.
So far, VASEP and the Management Board of Zeebrugge port signed a memorandum on the establishment of the distribution center. “This is one of the largest ports in Europe and it takes only several hours to transport imported seafood products from Zeebrugge to other European countries located about 500 km from the port. If this plan is fully realized, Vietnam seafood will have more advantages in the EU.
Currently, Vietnamese companies have been sending their seafood products to the EU through Belgium, but these were individual shipments. Therefore, the establishment of a distribution center will help concentrate supply from Vietnam as well as improve their value.
Trade barriers
However, opportunities always bring with them challenges. Vietnam fishery industry needs to acknowledge its internal challenges as well as those from the importing markets. For example, the U.S has been one of the biggest importers of Vietnam. In 2013, shipments to American market reached around US$1.75 billion and Vietnam targets to boost exports to this destination to US$2 billion in 2014.
There are two problems waiting for Vietnam seafood to overcome in coming time. The first one is the U.S catfish inspection program, which will likely be switched from U.S Food and Drug Administration (FDA) to U.S. Ministry of Agriculture (USDA). If the decision is made, pangasius products fail to entry to the U.S market. The second one is the DOC’s annual antidumping tax administrative reviews (POR) imposed to imported frozen pangasius fillets from Vietnam. If the U.S. selects Indonesia to be the surrogate country for antidumping tax calculations instead of Bangladesh like what they did in the previous years, there will be more disadvantages for Vietnamese pangasius exporters,” said Dao Tran Nhan, Counsellor of Vietnam Trade Mission in the U.S.
(seafood.vasep.com.vn) The Report on Vietnam Pangasius Sector 2015–2024, produced and released by the Vietnam Association of Seafood Exporters and Producers (VASEP) in January 2025, is expected to provide enterprises, importers, and government agencies with a comprehensive overview of key developments in Vietnam's pangasius production and export over the past decade. In addition to highlighting achievements, the report identifies existing challenges and analyzes future opportunities and threats for the pangasius industry.
(vasep.com.vn) Overcoming two years of fluctuation in both export markets and domestic production, Vietnam's pangasius industry has demonstrated resilience, adaptability, and a strong determination to seize opportunities and boost exports to various markets. As a result, in 2024, pangasius exports reached USD 2 billion, a 9% increase compared to 2023. This achievement is a source of pride for Vietnam's aquaculture and agriculture sectors.
(seafood.vasep.com) Speaking at a conference to implement the 2025 plan of the Ministry of Agriculture and Rural Development, Prime Minister Pham Minh Chinh urged the agricultural sector to strive for a total export turnover of agricultural, forestry, and fishery products reaching $70 billion by 2025.
With robust production and processing infrastructure, combined with continuous market development efforts, Vietnam’s seafood exports are poised for 10–15% growth in 2025.
In 2025, seafood exports are expected to continue to grow better and could reach 11 billion USD as in 2022. However, this is also the year the seafood industry will face challenges, including increased competition from other countries, trade wars and market barriers...
(seafood.vasep.com.vn) On the afternoon of December 25, at Toan Thinh Conference Center (Soc Trang City), the Soc Trang Fisheries Sub-department, under the Department of Agriculture and Rural Development of Soc Trang, held a conference to review the 2024 aquaculture activities and outline the brackish water shrimp farming plan for 2025. The event was attended by Ms. Quach Thi Thanh Binh, Deputy Director of the Department of Agriculture and Rural Development of Soc Trang.
The Mekong Delta province of Soc Trang aims to achieve export value of over 1.9 billion USD in 2025 by boosting production and processing of key products such as seafood, high-quality rice, fruits, and garments.
The UK-Vietnam Free Trade Agreement has significantly boosted Vietnamese seafood exports, with shrimp and pangasius leading the charge in the UK market.
(seafood.vasep.com.vn) In November 2024, Vietnam's tuna exports failed to maintain the rapid growth momentum seen earlier. Export value during the month increased by nearly 4% year-on-year, reaching approximately USD 82 million. Cumulatively, the export value for the first 11 months of 2024 totaled USD 903 million, a 17% increase compared to the same period in 2023. However, at this growth rate, the total export turnover for 2024 is estimated to only reach around USD 1 billion.
(seafood.vasep.com.vn) On the evening of December 24, 2024, in Hanoi, the Central Youth Union, Viet nam Youth Federation and the Vietnam Young Entrepreneurs Association held the Vietnam Golden Star Award Ceremony 2024, with the theme "Reaching Vietnam", honoring 200 outstanding enterprises. Deputy Prime Minister Nguyen Hoa Binh attended.
VASEP - HIỆP HỘI CHẾ BIẾN VÀ XUẤT KHẨU THỦY SẢN VIỆT NAM
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