Seasonal harvest peak in India is about to end, while in Vietnam harvest time is coming.
On 3rd March 2015, US Department of Commerce (DOC) announced preliminary results of of the ninth anti-dumping duty administrative reviews on certain frozen shrimp imported from Vietnam. The period of review (POR) is 1st February 2013 through 31st January 2014. The average tax rate would be 0.93%, from 6.37% of POR8. If these preliminary results are retained in the final results, the condition for Vietnam shrimp exports to the US would be better.
A strong dollar resulted in higher purchasing power. The US increased shrimp imports. Vietnam was the fastest growing supplier of breaded shrimp to this market.
In the first quarter of the year, over 135,000 MT of shrimp was imported into the US, reaching the value of US$ 1.4 billion. Frozen breaded shrimp imports increased by 11% to reach 11,737 MT in volume and US$ 94.7 million in value.
Imports from Vietnam reported a surge of 50% to 1,491 MT. In terms of vaue, it is 42% increase to US$ 11.9 million. Meanwhile, imports from China down 10% to US$ 45.6 million. Imports from Thailand, on the other hand, remained stable with US$ 22.1 million.
Besides, imports of frozen shelled shrimp into the US grew to 54,984 MT, reporting the value of US$ 551.4 million, up 17% in volume and 5% in value.
Frozen warm water shrimp imports reached 47,215 MT with the value of US$ 501 million in the first quarter, down 9% in volume and 26% in value over the same period last year.
|
Shrimp imports by the US, QI/2014-2015 (Unit: MT) |
|||||
|
Origin |
Jan-Mar 2014 |
Jan-Mar 2015 |
Variation |
||
|
Volume |
Percentage in total imports (%) |
Volume |
Percentage in total imports (%) |
||
|
Thailand |
13,667 |
11 |
16,580 |
12 |
21.3 |
|
Indonesia |
24,088 |
19 |
27,945 |
21 |
16 |
|
Ecuador |
22,357 |
18 |
23,411 |
17 |
4.7 |
|
India |
20,955 |
17 |
24,157 |
18 |
15.3 |
|
Vietnam |
16,099 |
13 |
12,341 |
9 |
-23.3 |
|
China |
8,476 |
7 |
7,104 |
5 |
-16.2 |
|
Mexico |
3,457 |
3 |
6,572 |
5 |
90.1 |
|
Other |
17,765 |
14 |
16,736 |
12 |
-5.8 |
|
Total |
126,954 |
100 |
134,845 |
100 |
6.2 |
(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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