Despite recording an positive growth rate, the value of pangasius exports to CPTPP in October this year was not as high as in a few previous months (March and August 2023 recorded a turnover of 23.4 million USD and 23.3 million USD).
In October 2023, Vietnamese pangasius exports to the markets of CPTPP member countries showed positive growth for the first time after 9 months of decline, with turnover reaching more than 23 million USD, up 4% over the same period last year. The overall growth in October was contributed by turnover increases to two markets: Mexico and Canada.
In October 2023, Mexico still maintained its growth, continuing to be CPTPP leading market in importing pangasius from Vietnam, with more than 7 million USD, an increase of 10% compared to October 2022. This country's import value in the first month of the fourth quarter of 2023 is also the highest level since the beginning of this year.
By the end of October 2023, Mexico had purchased from Vietnam mainly frozen pangasius fillets with HS code 0304, accounting for 93% of the proportion, down 38% over the same period last year. In September and October 2023, sales of this product in Mexico grew positively by 36% and 12%, respectively, while the previous months had a double-digit decline.
Besides Mexico, Canada is also a country with impressive growth in October this year in importing Vietnamese pangasius. In October 2023 alone, Canada bought nearly 4 million USD of pangasius, an increase of 29% over the same period last year. Among them, frozen fillet products are still the most popular product segment in the country, with the second-largest area in the world. In October 2023, exports of frozen pangasius fillets to Canada reached 3 million USD, an increase of 20% over the same period. In the first 10 months of the year, Canada purchased nearly 27 million USD of this product, down 42% over the same period last year.
Other markets in the bloc, such as Singapore, Japan, Australia, etc., mostly still witnessed a decline in Vietnamese pangasius imports in October this year. The trend of pangasius exports to these markets is difficult to predict due to erratic increases and decreases. A typical example is Singapore, where pangasius exports to this market grew well in the first 3 months of the year, then reversed and decreased in the following months.
There is still a lot of room in the CPTPP market for Vietnamese seafood, including pangasius. Choosing to produce value-added goods and taking advantage of import tax incentives under the CPTPP Agreement can also be options for many businesses to both stabilize jobs for workers and take advantage of processing capacity.
(seafood.vasep.com.vn) The purchase price of raw pangasius in the first 11 months of 2024 remained at 26,000-27,000 VND/kg. However, farmers faced challenges in earning profits due to rising costs of fish feed, fuel, and labor during the year.
(seafood.vasep.com.vn) Sao Ta Foods Joint Stock Company (FIMEX) recently announced its production and business results for November 2024, showing a 5% year-over-year increase in revenue but a 21% decline compared to the previous month.
(seafood.vasep.com.vn) Soc Trang province underscores the critical role of the fisheries sector in driving its socio-economic development. Located along Vietnam's coastline, the province features 72 km of shoreline, three major estuaries—Dinh An, Tran De, and My Thanh—and a dense river network encompassing diverse ecosystems, including saltwater, brackish, and freshwater. These natural resources provide ideal conditions for the growth of aquaculture, making the fisheries sector a cornerstone of Soc Trang’s economic strategy.
(seafood.vasep.com.vn) In 2024, the pangasius industry in Dong Thap is projected to achieve a production value of VND 8.802 billion, marking a 2.86% increase compared to 2023 and accounting for over 17% of the province's total agricultural, forestry, and fishery production value.
(seafood.vasep.com.vn) Vietnam's tuna exports to Japan have seen robust growth over the past two months. Data from Vietnam Customs shows that in October 2024 alone, tuna exports to Japan surged by 31% year-on-year, reaching nearly USD 3.5 million. This growth has offset the decline experienced in the first half of the year, raising the total export value for the first ten months of 2024 to nearly USD 28 million, a 5% increase compared to the same period last year.
A business forum was held by the Dutch Embassy in Vietnam in collaboration with the Ministry of Agriculture and Rural Development (MARD) in the Mekong Delta city of Can Tho on November 27, seeking ways for sustainable aquaculture in the region.
(seafood.vasep.com.vn) On November 18, Ms. Truong Ha Phuong Anh, Director of the Center for Investment Promotion and Business Support (iPEC), stated that during the Ca Mau Province Agricultural and Aquatic Products Trade Promotion Conference 2024, held on November 15, there were 209 direct trade interactions between 42 seafood processing and exporting enterprises, OCOP producers in the province, and five leading domestic retail companies: Central Retail, Saigon Co.op, Kingfood Mart, Bach Hoa Xanh, and Satra Supermarket.
In 2024, the Binh Dinh Agricultural Extension Center successfully implemented a semi-intensive and intensive two-stage whiteleg shrimp farming model using Semi-Biofloc technology.
(seafood.vasep.com.vn) Recently, the area dedicated to super-intensive, high-density whiteleg shrimp farming in Trà Vinh Province has been rapidly expanding due to its high productivity and economic efficiency.
(seafood.vasep.com.vn) In collaboration with provincial authorities, specialized agencies, and local coastal governments, seafood processing and export enterprises in Binh Dinh Province are actively working to address issues related to illegal, unreported, and unregulated (IUU) fishing. The shared goal is to have the European Union's "yellow card" removed this year.
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