In the first 10 months of this year, the export value of pangasius to the largest market in ASEAN, Thailand, still decreased by 6.42% compared to the same period last year, reaching 43.6 million USD (accounting for 46.2% of the value of the pangasius imports of the whole bloc).
Before the pandemic, Singapore and Malaysia were two emerging and attractive markets for many Vietnamese pangasius exporters when the demand for import and consumption was stable and growing strongly. However, due to the impact of the epidemic in the early stages, in 2020, these two countries were severely affected by Covid-19, making trade activities difficult. However, recently, with efforts to transition from zero Covid-19 to living with Covid, these countries are also cautiously reopening their economies in the context that the whole world is worried about the Omicron variant. Optimistic economists forecast that, from the beginning of 2022, Singapore is the country with the fastest recovery and stability in the region and a good opportunity for businesses to promote exports to this market.
By the end of October 2021, the export value of pangasius to Singapore reached 20.6 million USD, down 29.4%; Exports to Malaysia reached 15.2 million USD, down 41.7% over the same period last year. While some major pangasius importing countries in the region reduced pangasius imports, the Philippines and Indonesia are two notable markets this year. In the first 10 months of this year, pangasius export value to the Philippines increased by 33.3%, reaching 14 million USD; Pangasius exports to Indonesia are also growing rapidly.
(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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