Despite remaining positive growth, this year growth was lower than 23 percent of 2011. Fish exports to key markets, in particular EU and the U.S. (accounting for the proportion of nearly 50 percent of Vietnam pangasius exports) were not as positive as that of 2011. In Jan- Apr 2012, fish shipment to EU reached US$152 million, down 13.8 percent over that of Jan- Apr 2011 while in the period last year, fish exports was still up 2 percent compared to 2010. The decline this year was attributable to European economic turmoil.
European economies are being hurt by the worst debt crisis in many recent decades. Spain, Greece, Portugal, Ireland and Italy are going in to unprecedented deep recession and their economic outlook is not bright in the near future.
Importers in EU have been decreasing to import pangasius from Vietnam because regional banks are cautious about business loans. This situation is expected to last until the end of this year because the analysts of Citi Group Corp. forecast Italy, Spain, Portugal and Ireland will continue to be downgraded credit rating this year. Moody’s has slashed most of banks’ credit rating in euro area.
Spain is the largest pangasius importer in EU block. In months of 2011, fish exports to the country kept falling but in Jan – Apr 2012, fish exports to the country reported positive but modest growth.
At this time, fish shipment to Spain achieved US$33 million, up 6.3 percent over that of Jan – Apr 2011. The increase was attributable to its low inventories of imported pangasius while cod import from Russia in Spain and EU in general decreased as Russia stocked up the fish for domestic consumption.
In Jan - Apr 2012, pangasius exports to the U.S. touched US$113 million, up 41.8 percent from that of the same period of 2011 while in Jan – Apr 2011, fish exports rose by 98 percent over 2010. Fish delivery to Asian markets, South America remained positive growth but lower than that of the same period of 2011.
Despite advance in pangasius export value, fish sector still copes with a lot of bottlenecks such as credit tightening, enterprises lost control of input costs due to high inflation and fluctuated raw material source. If the situation is not improved, fish exports 2012 is only equal to that of 2011 and earnings from fish exports is narrowed significantly.
(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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