From January to July 2014, pangasius exports to EU were US$ 206.6 million, falling by 6.8% year on year, while pangasius exports to the United States were US$ 180.8 million, decreasing by 21.5% year on year. These two markets were accounted for 39.9% of total pangasius exports from Vietnam, compared to 45.9% over the same period in 2013.
Pangasius exports to EU have continuously declined in recent years. Vietnam pangasius consumption in EU tends to decline from 2010. It dropped by 19% in 2012 and fell by 9% in 2013. On the bright side, decreasing rate in the first 7 months of this year was half of that in the same period in 2013.
Contractionary economy in EU with fierce competition with other white-meat species such as Alaska pollock affected the export value.
The United States stepped down to be the second largest import market for Vietnam pangasius due to repetitive decline. Vietnam exporters blamed the fall of pangasius exports to the United States for high anti-dumping tax (POR9). Pangasius exports to America declined from March till June. Pangasius exports in May dropped 59.2%, which is the highest reduction. March saw the slightest decline by 12.7%. In July, pangasius exports to the United States increased slightly to US$ 29.04 million.
In contrast to the 2 dominant markets, the first 7 months of this year witnessed strong growth in Vietnam pangasius exports to South East Asia markets, Brazil, China and Mexico. Though the decline in the United States and EU has not been made up, efforts from businesses to boost pangasius exports to other markets are clearly shown. Pangasius exports in the first 7 months of 2014 to ASEAN, Brazil and China increased by 15.6%, 16.7%; and 15.3% year on year, respectively. Total shares for these 3 markets accounted for 27.5%. Exporters expect steady growth of pangasius exports to these markets by the end of 2014.
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.
(seafood.vasep.com.vn) Khánh Hòa province is currently leading the way in implementing Electric Catch Documentation and Traceability System (eCDTs).
(seafood.vasep.com.vn) The European Union, with its stringent quality requirements, has become an attractive destination for the shrimp industry of many countries, including Vietnam. Vietnamese shrimp meeting EU export standards not only increases product value but also solidifies Vietnam's position in the global seafood market.
(seafood.vasep.com.vn) Vietnam's shrimp exports accounted for the highest export value among all seafood products in the first nine months of the year, reaching nearly $2.8 billion, a 10.5% increase compared to the same period in 2023.
(seafood.vasep.com.vn) According to the Ben Tre Statistics Department, the province’s aquaculture sector has been relatively stable and has experienced growth recently, particularly due to the high efficiency of intensive shrimp farming models.
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